Will NFTs be the new NBA norm? Fans spend thousands bidding on 'Harry the Hawk' collection
The Atlanta Hawks are soaring into the non fungible token craze. The collection of hand-drawn, digital images of “Harry the Hawk” went on the auction block March 14. Bidding started at $50. Some NFTs went for more than $1000.
That dramatic jump in price is emblematic of how folks are willing to shell out a fortune for NFTs — we’re talking more than what an original Picasso might cost. An NFT by the digital artist known as Beeple sold last March for nearly $70 million in a similar online auction.
Once purchased, the “Harry the Hawk” NFTs live on blockchain technology, which is basically a digital ledger that logs transactions. Those transactions cannot be forged or counterfeited.
To get a better sense of how the Hawks plan to use NFTs to engage and broaden their fan base, WABE checked in with the Hawks’ senior director of innovation and DEI Impact Jen Choi.
Lily Oppenheimer contributed to this report.