2021 was a rollercoaster of a year for the crypto markets. Bitcoin's bull run dragged the entire sector higher until the crash in mid-April, and then in the wake of Bitcoin crashing, we saw crypto investors move more assets into the "DeFi" sector and the beginnings of the boom in Non-Fungible Tokens (NFTs).
NFTs exploded in August 2017 in the primary sales and secondary sales markets going into overdrive. As of mid-September 2021, the month rolling sales volume for primary and secondary NFT sales reached almost $800-million, up from over $206,000 for the previous 30-days.
With so much excitement recently in the NFT market, Lakers fans have been eagerly awaiting the biggest sports NFT drop in history. The KB24 NFT team had fans excited all week filled with endorsements from Dwight Howard, Zedd, Metta World Peace, Kenny Smith, and many others.
In an interview with the founders of KB24 NFT, the team confirmed a release date of October 8. Late Thursday night, the team announced they would be giving away their "Kobe Dad" Cryptodad to one lucky fan. With Zedd in attendance, the discord went bananas to get their hands on one. The excitement reached its peak when the team announced a major announcement was coming soon.
KB24 – The Hottest Sports NFT Drop of 2021
The KB24 NFT Art Project offers fans of the Lakers a chance of a lifetime to commemorate the legacy of Kobe Bryant, arguably one of the best players to ever wear the team's jersey and step onto an NBA court.
After the sports star's shocking passing in 2020, it left a hole in the basketball community, and fans worldwide mourned the loss of one of basketball's greats, but a year later, the team behind the KB24 NFT Project is ready to change the sports memorabilia market for good.
If you remember the KB24.com website, you'll know that Bryant used it to communicate with his fans. However, a pair of tech entrepreneurs, both fans, noticed the site was redirecting traffic to malicious actors.
This resulted in the team stepping into a negotiation to purchase the site and turn it into an NFT project for charitable purposes.
Thus, the KB24 NFT Art Project was born. A collection of 10,000 unique moments from Bryant's career. Each NFT features an artwork image from eight categories, including his accomplishments, jerseys, accessories, and a few sneak surprises for real Kobe fans.
The KB24 NFT Project and the Mamba and Mambacita Sports Foundation
The Mamba & Mambacita Sports Foundation is one of Bryant's hugest philanthropical interests that he leaves behind in the wake of his tragic passing.
The organization aims to lift youth women's sports, bringing programs to underprivileged communities across the United States. With the KB24 project, the team expects to boost the organization's funding, providing an estimated $3-million in sales from the launch and $50-million in recurring NFT sales from the project.
The proceeds from the launch and resale of KB24 NFTs go to the Mamba and Mambacita Sports Foundation to fund its charitable work. The recurring income model from the project makes it a truly fascinating and innovative fundraising model.
Sales volume in NFT trading is around 4-times greater than first-time launch sales volumes. There is now a massive market for the resale of the KB24 NFTs. With this project, the team embeds code into the "smart contract" functionality of the NFT.
Every time the NFT changes hands, the Mamba and Mambacita Sports Foundation receives a royalty donation in return. The team estimates the resale market for the KB24 project to be somewhere around $50-million, with the Mamba and Mambacita Sports Foundation benefitting every sale.
With the KB24 Project, the basketball legend's foundation gets a regular income model that's not possible with traditional fundraising projects.
The KB24 NFT Project And The ETH Blockchain
The KB24 NFT Art Project was born from the great minds of digital entrepreneurs Andy Treys and Sako Waves, both lifelong Kobe Bryant and Lakers fans. The pair had a long journey to bringing the project to fruition, and the pre-sale opened on Friday, September 10th, 2021.
In just 48-hours, the project saw 7,000 people sign up to the Discord chat to get notifications on the launch date. The team expects to sell out of the entire collection in hours, and maybe even minutes, of the launch of the KB24 collection.
Each of the 10,000 NFTs available through the KB24 collection relies on the Ethereum Blockchain for hosting. The ETH blockchain allows for authentication and verification of the NFT and its ownership. During the launch, each of the KB24 NFTs will sell for 0.08 ETH, which is around $285 at current market prices on September 17th, 2021.
The KB24 team plans to create a public wall where owners can post their KB24 NFTs for all Kobe fans to enjoy.
The KB24 team hopes to NFT roll-out 24 to 48-hours after minting the NFTs on the ETH blockchain. Right now, the site's terms and conditions state that each wallet address may purchase up to five KB24 NFTs, but the development team might change this limit before then.
Sign Up To The Discord For More Information
If you're a Lakers and Kobe Bryant fan, then you can't afford to miss out on what promises to be the sports memorabilia launch of the century. Sign up for the Discord chat to get the latest news and important information on launch dates and pre-sale information for the KB24 NFT Project.
The team saw well over 7,000 signups in the first 48-hours, and has reached 13,000 active discord members. We can expect a fast sell-out of all the NFTs in the KB24 collection with this kind of response.
Signing up for the Discord will also allow you to get access to contests and giveaways relating to the collection. Make sure you follow the social media channels for KB24.com, and you'll be first in line on launch day.
How Will the KB24 NFT Project Change the NFT Art Market?
The KB24 NFT Project is the first and currently only of its kind in the market. Sure, fans had a few other independent NFT projects, with Australian superfan "Bosslogic" producing an NFT titled "Forever Mamba." The NFT sold in small amounts, but it didn't have potential to be an official collaboration with the Mamba and Mambacita Sports Foundation.
The KB24 NFT Art Project is the first ever to involve all the proceeds of sales and resales of the NFTs going exclusively to charity, in the form of funding the Mamba and Mambacita Sports foundation and its work.