10,000 Kobe Bryant Inspired NFT’s Up for Grabs
The Kobe Bryant KB24 NFT team has set a release date for their much-anticipated NFT art collection. On October 8th, 2021, the series will be released. 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.
The profits will go to the Mamba and Mambacita Sports Foundation, which was established to honour Kobe and Gianna Bryant’s legacy. The mission of the Foundation is to support athletes and young women in their sporting endeavours. Kobe Bryant’s NFTs can be purchased by fans to support to his legacy.
The KB24 project is essentially a blockchain-based collection of 10,000 algorithmically generated NFTs. Each of these NFTs has a unique set of features that are divided into eight categories. Additionally, each NFT has an initial value of 0.08 ETH, which is now roughly $250 USD. The Ethereum rate will be used to price the newly issued KB24 NFTs.
Generated profits will go to the Mamba and Mambacita Sports Foundation, which supports marginalised athletes and young women in sports. Sales of the NFT will be one of the ways the Foundation will raise funds from this initiative. The revenues from the KB24 collection will be roughly $2.5 million if all 10,000 NFTs are sold on the first day, as predicted. All of the funds will go to the Mamba & Mambacita Sports Foundation.
Each sale also generates royalties for the NFT collectors. When an NFT is sold on the market, the creators get paid royalties on both the initial sale and subsequent resales. Each KB24 NFT sold will incur a ten percent charge, which will be contributed to the Foundation. The project is estimated to generate over $50 million in royalties during its lifetime, which will be donated to the Foundation.