Tennis Australia has announced it will release almost 2,500 non-fungible tokens (NFTs) in partnership with this year’s Australian Open. This decision comes despite the uncertainty in the crypto market and despite the decline in Ethereum’s value making the sale price lower than the original. The AO Artball collection was launched last year, selling a total of 6,776 ball artworks as NFTs. An additional 2,454 NFTs are set to be on offer this year.

AO Artball Program Offers Membership with Benefits

Unlike many NFTs which are solely focused on investment, the AO Artball programme is promoted as a type of membership in the Australian Open. NFT owners will receive numerous benefits including ground passes for finals week and access to a site with behind-the-scenes footage not part of the broadcast of the grand slam. Over 2,000 NFT owners have already taken up the offer of tickets to the Open.

Tennis Australia Remains Committed to NFTs Despite Market Turmoil

Tennis Australia remains committed to NFTs and believes the benefits of exploring new technology like web3 and NFTs outweigh short-term fluctuations in the market. The AO Artballs for 2023 will be minted starting at 7am AEDT on Thursday and will start at 0.23ETH, approximately $446.

Read More Here https://www.theguardian.com/technology/2023/jan/11/tennis-australia-commits-to-more-nfts-despite-mayhem-in-the-crypto-markets

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