SPORTS-NFT-EXPLANATION-SPORTSPLUS-GET

Evan Mobley (4) looks to pass against Franck Kepnang (22) of the Oregon Ducks.

LOS ANGELES — When Evan Mobley declared for the NBA draft in April, he didn’t go the traditional route. Mobley eschewed a news release or Players’ Tribune post, instead making his announcement by releasing an NFT.

Mobley’s nonfungible token, which in addition to the digital asset itself entitled the buyer to two signed Mobley jerseys and two tickets to a future game with a meet and greet, sold for 2.1 ether. On April 19, when the transaction happened, that was equivalent to $2,163. Now it’s $4,017. Volatility is part of the deal in cryptocurrency and it’s part of the deal with NFTs. Whether Mobley’s NFT would bring the same kind of demand as it did two months ago is a question.

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