The National Basketball Association team, Chicago Bulls, has announced plans to launch a series of non-fungible tokens (NFTs) depicting its 56-year iconic logo before the end of this month. The collection will feature artworks from well-known industry artists.
In a September 8 announcement, the National Basketball Association team confirmed plans to unleash a new NFT collection later this month featuring “1-of-1” NBA logo artworks from several well-known industry artists.
Chicago Bulls NFTs Overview
Chicago Bulls is an American professional basketball team based in Chicago founded in 1966, competing in National Basketball Association. It features a red charging bull’s face with black and white accents as its logo.
Its iconic logo was created by commercial designer Dean Wessel, who was offered free tickets to a game in exchange for the now-synonymous image. The Chicago Bulls logo is unique and has never changed since its inception 56 years ago; its NFT foray will not change it.
The Chicago Bulls has invited more than 23 skillful artists and designers from the NFT industry, including Michael Salisbury, Bobby Hundreds, Blake Jamieson, and Maliha Abidi, to redesign its NBA logo.
Other notable artists include Gxng Yxng of Ghxsts, Betty, and Psych from the NFT project Deadfellaz and Varvara Alay, among others. While commenting about the NFT integration, Claire Salvo, an artist who reinterpreted the logo using a ballpoint pen on paper, remarked:
“As a ’90s kid, I grew up watching Michael Jordan and Dennis Rodman play. It was an era when pro athletes were also becoming pop culture icons. The team, the players and the era are all so nostalgic for me.”
Each piece of art will be minted as a single 1-of-1 NFT on the Ethereum blockchain exclusively on the Coinbase NFT platform. The NFT collection dubbed “The Aurochs” will go auction live on September 22, with a starting price of 0.2 ETH.
According to the NBA team, 40% of its sales proceeds will go towards artists, while 40% will go to the Bulls. The NBA team will pocket 10% while the remaining 10% will go to After School Matters, a Chicago-based non-profit organization providing opportunities to Chicago youths.
Chicago Bulls’ NFT Journey
It is not the first time the NBA team “Chicago Bulls” will be seeding in the NFT sector. In July last year, Chicago Bulls unleashed a collection of Legacy NFTs, featuring several images depicting the team’s six world championship rings.
At the time, the collection offered exclusive benefits for owners of multiple NFTs, including a “Bull for a Day” VIP meet-and-greet experience and courtside seats.
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