Utah Jazz sell out of NFTs within 90 minutes

That escalated quickly!

Launched today through its Tier 1 and Tier 2 options, the Jazz NFT program sold out within the first 90 minutes of being made available. All 15 Tier 1 options were purchased within the opening hour, while the remaining Tier 2 options were sold out by 11:30 a.m.

“As expected the Jazz family came through in a big way. … The first sports team NFT paired with a metaverse experience, and sold out in less than 2 hours,” said Riley Demps, lead NFT Project Manager for the Jazz.

With the launch of the NFT program on Tuesday morning, Utah became the first professional sports program in the world to pair a digitally designed Non-Fungible Token (NFT) with premiere access into a virtual locker room. 

Those who purchased either Tier 1 or Tier 2 of the NFT will be given the opportunity to virtually tour a direct representation of Utah’s locker room. But the real fun takes place once the tour concludes, where those participating will take part in a meet-and-greet with Jazz owner Ryan Smith.

"I am ecstatic to be able to offer such a unique and groundbreaking experience for the Utah Jazz fan base and beyond,” Smith said in a statement. "This NFT program is our opportunity to show the world that technology is thriving in our state, and we intend to be on the forefront of innovation as we move forward." 

For those who were unable to purchase the NFT, there is no reason to fret.

According to Demps, the organization is planning on multiple other opportunities that will provide purchasers the opportunity to interact with Jazz icons. 

“To Jazz fans worldwide who didn't get the chance to get in, we’re not done,” Demps said. “We will have more opportunities to engage with the team coming soon. … Looking forward to this new space in metaverse."

With COVID-19 drastically changing the sports and interactive landscape, Smith wanted to put Utah at the forefront of finding different and unique ways to engage fans while still providing them deep and personal looks into the organization.

The NFT program is now a way to continually engage fans in the future moving forward, providing them the opportunity for less physical contact while still possessing the same level of intimacy.

“When I was hired in April, Ryan Smith asked me to push the limits of technology to create something special in the NFT and Cryptocurrency space: in all, we have reached that goal with JAZZXR,” Demps said prior to the launch. “We have created an experience to connect with our fans in a fresh and innovative way. We have allowed people who are in and out of the Utah market to feel part of a team in the most intimate and realistic way possible. I am so excited for this opportunity to show people worldwide not just what it means to be a Jazz fan, but to be a part of the Jazz family.”

It’s one thing to walk into Vivint Arena, find your seat and watch Rudy Gobert win the opening tip — and even better when you leave with a victory.

While that experience is still incredible in every sense of the word, the NFT program offered by the Utah Jazz now rivals it.

The scheduled date for the tour and Q&A with Smith is set for Friday, Oct. 8. A portion of the proceeds from the Jazz NFT program will benefit Utah non-profits.

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