2020 NBA Title Ring Virtualized And Sold As Crypto Token, Based On PORTL’s Transparent LCD
May 24, 2021 by Dave Haynes
I’m putting out there, immediately, that I understand maybe half of the following, as it has something or other to do with crypto-currencies and memorabilia.
The LA start-up PORTL, which does a very clever job of making transparent LCD look like three-dimensional hologram displays, has announced it has created the “world’s first volumetric pro sports memorabilia non-fungible token, or NFT.
It is a spinning, many times more than life-sized, rendering of the 2020 NBA championship ring earned and owned by NBA player Danny Green.
The crypto-token-thingie is being marketed via the management and curation platform and marketplace New Renaissance, and whoever buys it will receive a PORTL Epic display, which at full size is a bit like a shower stall with a transparent LCD in it. There are smaller, countertop versions as well.
Green was an early investor in PORTL.
”In my career, before becoming a hologram tech entrepreneur, I worked for the media broadcast of the Los Angeles Lakers during several championship seasons,” says PORTL inventor and CEO David Nussbaum. “So now to not only be able to count Danny Green as one of our investors, but to also be part of the historic NFT of his championship ring, it is a true full-circle-dream.”
Says PORTL: The units are portable and plug-and-play, and are fully interactive, with touch screen and AI capabilities. The size of the PORTL presented with Danny Green’s NFT is dependent on the final NFT sales price, with the buyer receiving a tabletop PORTL Mini once the hammer price passes $150K or a 7-foot tall PORTL Epic when the price surges past $300k.
The NFT includes other benefits such as a special edition AR app that will beam Green’s NBA Championship ring on to people’s hands, and control an AR version of the ring hanging over the Staples Center. The winner will also have the opportunity to play a game of horse with Green in person after the NBA Playoffs — redeemable only if the buyer doesn’t sell it for 90 days.
This next bit is all about crypto and NFTs, and almost entirely eluding me. My son is into this stuff. Read this if you understand crypto, or perversely want to. Move on otherwise …
New Renaissance says it is revolutionizing the way culture is created, traded and protected. It is built on top of the Ethereum blockchain focused on digital collectibles from high end artists, celebrities and iconic brands, and with an added layer of legitimacy and legal protection on the blockchain itself. It works directly with each creator to curate a bundle of digital assets and experiences that make up each NFT to establish a multidimensional, authentic, and enduring relationship between creators and their fans.
The advantages of the newly launched NR platform are numerous. NR uses the Moonpay payment gateway to facilitate secure, seamless transactions without the bottlenecks and time-wasting friction of payment processing of other platforms. NR utilizes multi-layer authentication on the backend and mandatory 2FA for buyers. The verification process for both buyers and sellers drastically mitigates risk of hacking that other platforms have faced. By offering Moonpay via Fortmatic, NR is KYC & AML compliant. While current platforms cannot establish any buyer rights or protections, NR utilizes a specific NFT agreement to legally grant and ensure rights.