SNEAK PEEK
- Last month, it was reported that NBA owners are under the microscope over billions tied to China.
- As reported by ESPN, forty principal owners in the NBA have more than a combined $10 billion tied up in China.
- NFTs of basketball legends Stephen Curry, Jaylen Brown, and more will be auctioned at China Public Auction.
Beijing Poly International Auction teased an online auction of 32 NBA Top Shot NFTs, including collectibles of basketball stars Stephen Curry, Kevin Durant, and Kyrie Irving. The starting prices ranged from 100 Yuan (about US$15) to 50,000 Yuan (US$ 7,471).
On Thursday, through Weibo, a leading social media platform, the Chinese auction house mentioned that the NBA Top Shot NFTs will feature in a public auction for the very first time in mainland China on Sunday since the collection debuted in June 2020.
Beijing Poly International Auction is a China Poly Group Corporation subsidiary, a state-backed enterprise. According to the South China Morning Post, it is the world’s third-largest auction house after Sotheby’s and Christie’s.
For a single NFT, the highest bid is for a dunk highlight of Boston Celtics’ Jaylen Brown from April 11, 2021, one of 99 identical cards, with a starting bid of 40,000 yuan (US$5,976).
As per the details, bidders can pay only RMB through Chinese fiat. Moreover, 13% of the winning bid will be charged in commission. Reports say that due to the 2019 fallout with Beijing, the NBA has lost millions of dollars in revenue. However, China’s state media outlet CCTV’s lately ended an 18-month broadcasting blackout.
NBA Top Shot has blocked mainland China access, which has not been lifted as press time.
