Charlotte Hornets guard LaMelo Ball will become the first athlete to enter the world of dynamic nonfungible tokens (NFTs) when he releases a set of 500 prior to the announcement of the NBA Rookie of the Year in June, ESPN has learned.
NFTs are unique blockchain-based tokens that give owners specific rights to the asset -- photograph, video clip, artwork -- they represent. Dynamic NFTs are a recent technological advancement and, unlike conventional NFTs, have the ability to change over time. If Ball is named Rookie of the Year, the 500 NFTs will automatically update to include the award, which is expected to increase the value of the collectible.