Australia-based media firm Basketball Forever has reportedly disclosed details related to an NFT initiatives, dubbed “Hoop Hounds”, looking to amplify NBA fan engagement and provide real-world utility for the tokens. 

Specifically, individuals who have criticisms towards NFTs has been focusing on the supposed ineffectual nature of the tokens, with “right click save” memes making it more widely known. 

Nonetheless, an increase has reportedly been recorded recently regarding utility-centric initiatives, nominally Bored Ape Yacht Club and Top Shot, in which holders will be equipped with exclusive access to real-world events and products.

Basketball Forever, the NBA-centric division of sports media firm Forever Network, has reportedly managed to build high levels of engagement on social media in Australia throughout the last four years, and is putting in efforts to improve that approach with NFTs. 

Basketball Forever will reportedly provide an overall figure of 8,888 different “hounds” – a variety of basketball and NBA personalities presented as different styles of animated canines – every coming with unique traits and differing levels of rarity. 

The firm reportedly shares an expectation of the NFTs to be publicly rolled out within the next six weeks.

Basketball Forever founder Alex Sumsky reportedly disclosed that his establishment was going “all in” on NFTs, believing that the technology carries more values than just a token connected with a JPG, making possible for organizations to provide innovative measures to amplify user engagement and provide fans with real utility.

“In phase 1 of the roadmap, users will receive physical items, merchandise and memorabilia that directly relate to the unique trait of the NFTs that they own.”