The Golden State Warriors are riding the blockchain craze as they became the first team to reveal an NFT (non-fungible token) Collection. The team made the announcement on their Twitter account, as the bidding for collection continues on.

This is definitely groundbreaking. Perhaps there's no better franchise in the NBA to start this than the one that's in Silicon Valley.

As the Warriors revealed on the official website, the “collection commemorates the team’s six NBA championships and includes digital collectibles of their most iconic games in franchise history.” Furthermore, part of the proceeds that they will get from the auction will be donated to the Warriors Community Foundation.

Bidders in the auction will get the opportunity to win championship ring NFTs. As Darren Rovell of Action Network HQ reported, an extremely lucky bidder will win the grandaddy of 'em all: a 1-of-1 ring that features all of the Warriors‘ six NBA championships. That person will also receive an actual ring, which will be given during an on-court ceremony.

With the Warriors bringing this into reality, perhaps other teams will follow with their own NFT collectibles. It's definitely worth imagining that franchises with a ton of history, as well as a loyal fanbase, like the Los Angeles Lakers, Boston Celtics, and Philadelphia 76ers could create something like this.

NFTs have risen in popularity this year, especially with the explosion of NBA Top Shot around the league. For those who don't know, NBA Top Shot is a blockchain-based platform that uses NBA players' real in-game highlights and treats them in the same way as trading cards. Through the platform, NBA fans can buy, sell, or trade these “moments” a.k.a. the virtual trading cards.