Hornets Launch Commemorative NFT

CHARLOTTE, NC —The Charlotte Hornets on Tuesday announced they will launch the franchise's first-ever commemorative non-fungible token (NFT) during Thursday's game against the Los Angeles Clippers, becoming one of the first U.S. sports teams to mint an NFT.

According to a release, the limited-edition NFT will be the first in a series of Hornets commemorative NFTs featuring artwork in the form of digitally designed commemorative game tickets.

Fans in attendance at that Clippers game will have the chance to purchase the crypto-collectible through the Hornets App for $4.99 in U.S. currency. Cryptocurrency is not required.

"The Hornets are thrilled to be one of the first professional sports teams to introduce to our fans a series of commemorative NFTs," said Fred Whitfield, the Hornets president and vice chairman.

Whitfield continued: "Innovation is in the DNA of the Hornets organization, dating back to our original uniforms and colors, and we wanted to offer our fans the opportunity to participate in the excitement, popularity and cutting-edge nature of NFTs. We take pride in the fact that these are fan-friendly NFTs with a very low barrier to entry. We think our fans will enjoy the design, and we look forward to growing in this space in the future."

In recognition of the Hornets inaugural season (1988-89), there will be 88 NFTs minted on the Flow Blockchain.

The Hornets worked with Dapper Labs and Mint to launch the new style of NFT. The Golden State Warriors also launched their own NFT last month, according to Forbes.

"We are thrilled to be working with the Hornets to help bring this unique NFT to Hornets fans," said Joseph Djenandji, CEO of Mint. "This innovative concept bridges the offline and online world by linking an emotional experience to a digital collectible."