Milwaukee Bucks launch their own NFTs to celebrate 1971 championship

In this April 30, 1971, file photo, Milwaukee Bucks' Lew Alcindor, who later was renamed Kareem Abdul Jabbar, smiles as he receives congratulations from Baltimore Bullets' Jack Marin (24) after winning the NBA championship in Milwaukee. The Bucks' first season wasn’t all that dazzling at 27-55 in 1968-69. But then they drafted Alcindor with the No. 1 pick. In 1970-71, the Bucks captured an NBA title by sweeping the Baltimore Bullets.

The Milwaukee Bucks are celebrating the 50th anniversary of their 1971 NBA championship with their own non-fungible token (NFT)

Fans and collectors interested in the digital item have their choice of a game 1 or 3 NBA Finals ticket and the championship banner, according to an announcement from the team on Thursday.  

“We believe NFTs and blockchain technology will have a huge impact on our business in the future, far beyond collectibles, but we’re thrilled to make our entry into the space with this incredible digital collection of commemorative items,” said Bucks president Peter Feigin said. 

The NFTs are available for bid at OpenSea, a marketplace for NFT collectibles. These digital items are 1-of-1, meaning there are only three items to be bid on. As of Friday, the current bid for each of the three items was slightly higher than $240.  

However the prices can change as bidding time for each item is different. Collectors have until Saturday just before midnight to bid on the game 1 ticket stub; they have until Monday just before midnight to bid on the game 3 ticket stub; and they have until Wednesday just before midnight to bid on the championship banner.  

Kareem Abdul-Jabbar holds the 1971 NBA championship trophy at Fiserv Forum on April 14, 2019.

Those interested in biding on the limited collectibles do need to create MetaMask digital wallet and an account at OpenSea to be able to bid. Whomever has the highest bid at the end of the deadline will be awarded the NFT. 

That person can decide to keep it or sell it like any other collector can do with items like comic books or sports cards.  

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