The year 2021 has seen a wild ride in the crypto markets. First, Bitcoin's bull run dragged the entire sector higher until the crash in mid-April. 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 with volume in the primary sales and secondary sales markets going into overdrive. As of mid-September 2021, the 30-day rolling sales volume for primary and secondary NFT sales reached nearly $800 million, up from just over $206,000 for the previous 30 days.
With so much excitement in the NFT market, Los Angeles Lakers fans eagerly await 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 Oct. 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
After Kobe's tragic passing in 2020, it left a gaping hole in the basketball community, and fans worldwide mourned the loss of one of basketball's greats.
Over a year later, the team behind the KB24 NFT Project is ready to change the sports memorabilia market forever.
If you remember the KB24.com website, you'll know that Kobe used it to communicate with his fans. However, a pair of tech entrepreneurs – both fans of Kobe – noticed the site was redirecting traffic to malicious actors.
As a result, the team stepped into a negotiation to purchase the site to turn it into an NFT project for charitable purposes.
The result is the KB24 NFT Art Project. 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 & Mambacita Sports Foundation
The Mamba & Mambacita Sports Foundation is one of Kobe's biggest philanthropical interests he leaves behind in the wake of his passing.
The organization aims to lift youth women's sports, bringing sports programs to underprivileged communities across the United States. With the KB24 project, the team intends 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.
Proceeds from the launch and resale of KB24 NFTs go to the Mamba & Mambacita Sports Foundation to fund its work. The recurring income model from the project makes it such an interesting and innovative fundraising model.
Sales volume in NFT trading is around four times greater than first-time launch sales volumes. As a result, there is 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.
As a result, every time the NFT changes hands, the Mamba & Mambacita Sports Foundation receives a royalty donation. The team estimates that the resale market for the KB24 project to be in the area of $50 million, with the Mamba & Mambacita Sports Foundation benefitting from every transaction.
With the KB24 Project, Kobe's foundation gets a recurring income model that's not possible with traditional fundraising projects.
The KB24 NFT Project And The ETH Blockchain
The KB24 NFT Art Project comes from the minds of digital entrepreneurs Andy Treys and Sako Waves, both lifelong Kobe Bryant and Lakers fans. The pair came a long way in bringing the project to fruition, and the presale for the collection opened on Friday, September 10 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 within hours, if not minutes, of the official 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 17, 2021.
The KB24 team intends on creating a public wall where owners can post their KB24 NFTs for all Kobe fans to enjoy.
The KB24 team plans the NFT rollout 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 launch day.
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 all the latest news and information on launch dates and presale information for the KB24 NFT Project.
The team saw over 7,000 signups in the first 48 hours and has reached 13,000 active Discord members. We can expect a fast sellout of all the NFTs in the KB24 collection with this kind of response.
Signing up for the Discord also gets you access to contests and giveaways relating to the KB24 NFT collection. Make sure you follow all 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 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 qualities, but it didn't have potential to be an official collaboration with the Mamba & Mambacita Sports Foundation.
The KB24 NFT Art Project is the first of its kind to involve all the proceeds of sales and resales of the NFTs going exclusively to charity, in the form of funding the Mamba & Mambacita Sports foundation and its work.