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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Kobe Bryant Inspired KB24 NFT Announces NFT Art Launch Date

September 24, 2021 GMT

LOS ANGELES, Sept. 24, 2021 /PRNewswire/ -- The Kobe Bryant KB24 NFT team has just revealed a launch date for their highly anticipated NFT art collection. The project is officially slated to drop on October 8th, 2021. Several celebrities and NBA players such as Dwight Howard, Nerlens Noel, Metta World Peace, Kenny Smith, and even Zedd have shown their support for a good cause.

Proceeds generated from this project will go to the Mamba and Mambacita Sports Foundation, which exists to further Kobe and Gianna Bryant’s legacies. The Foundation’s mission is to help athletes and young women progress in sports. For fans, Kobe Bryant’s NFTs might be a chance to contribute to his legacy.

KB24 NFT Art – Preserving Kobe Bryant’s Legacy

The project was founded by Andy Treys and Sako Waves, two market disruptors from L.A., who are also huge fans of the Lakers legend. After discovering the KB24 domain for sale, they took it upon themselves to save Kobe’s legacy from the hands of those who were using his former website for malicious activities. Eventually, the KB24 NFT project was envisioned and turned into a charitable campaign for the icon’s own foundation.

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The official Discord server is being used for contests and new announcements regarding the NFT drop. Currently, over 12,000 members have joined the Discord server. Those who were lucky enough to sign up before September 13th will be able to access the presale, and have already received their unique codes.

The KB24 project, in essence, is a collection of 10,000 algorithmically generated NFTs that exist on the blockchain. Each of these NFTs has its own unique attributes, which are a spread of eight categories. Additionally, each NFT has an initial value of 0.08 ETH, which currently equates to roughly $250 USD. The newly minted KB24 NFTs will cost their equivalent Ethereum rate.

How Will Kobe Bryant’s Foundation Benefit from This NFT Project?

Profits and proceeds will make their way to the Mamba and Mambacita Sports Foundation, which helps underserved athletes and young women in sports.

One of the ways the Foundation will receive money from this project is through the initial sales of the NFT. Should the KB24 project sell all 10,000 NFTs on the first day, as anticipated, this sale will generate approximately $2.5 Million. These funds will all be used to donate to the Mamba & Mambacita Sports Foundation.

In addition, NFT creators earn royalties from each sale. Each time an NFT is sold on the market, royalties are paid to the creators not only for sales but also for future resales. Each time a KB24 NFT is sold, a 10% fee will be collected and used to donate to the Foundation. The project is estimated to generate over $50 million in royalties throughout its lifetime, which will be used to donate to the Foundation.

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Investing in NFT Art and Benefits for First-Time Investors

Investing in NFTs may seem confusing for first-time investors, especially in an increasingly digitized world. There are several qualities unique to digital assets such as NFTs.

Some of the unique benefits of NFTs include the following:

  • No matter how similar they can be, there are no two identical NFTs. Each NFT is unique in its own way, so no one can “replicate” them.
  • NFTs do not get lost. A public record contains all information about the NFT owner, and anyone can verify ownership in seconds.
  • NFTs are Ethereum-based, meaning they can be traded on the Ethereum blockchain.
  • Owners and creators of NFTs can sell them from anywhere in the world at any time.
  • An NFT creator can keep earning royalties, even if the project was initially released years ago.

KB24 NFT Art Collection Aims to Preserve a Legacy

Through the KB24 NFT collection, fans of Kobe Bryant may have a chance to partake in this once in a lifetime NFT art drop on the legend’s former website. Fans can feel a connection with their favorite basketball player while knowing that they donated to his very own foundation. This project aims to immortalize Kobe Bryant and preserve his legacy for years and years to come.

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SOURCE KB24