Under Amour Goes NFT with NBA 3-Point Record Holder Stephen Curry

Key Insights:

  • Under Armour returns to the NFT space with Stephen Curry 3-pointer NFTs.
  • In December, Under Amour dropped an NFT collection to celebrate Curry’s NBA 3-point record.
  • The latest move underlines the NBA’s strong ties with digital assets and Web3.

This week, Under Armour (UAA) returned to the NFT space, with NBA legend Stephen Curry. The US National Basketball Association (NBA) is an advocate of digital assets and Web3.

In 2020, the NBA and Dapper Labs launched the NBA NFT marketplace Top Shot, built on the Flow (FLOW) blockchain.

Going into this year’s NBA playoffs, the NBA strengthened its ties with web3 to drive fan engagement with the launch of NBAxNFT, an NBA Discord. NBAxNFT provides a platform for the NBA and fans to talk Web3.

Under Armour is also no stranger to NFTs.

Under Armour Goes Digital with Stephen Curry 3-Pointer NFTs

Overnight, Under Armour took to Twitter to announce a new NFT collection, tweeting,

“First you Change the Game for Good, then you mutate it. Every 3 @stephenCurry30 hits during the playoffs is a chance to own a piece of history. Learn more at: https://lab.currybrand.com/currycounter.”

 

According to lab.currybrand.com,

“For every three-pointer Stephen Curry makes in a playoff game, three free digital basketballs are claimable by the most engaged fans. Be fast. Others will be trying as well.”

Fans can purchase the Ethereum-based basketball NFTs on the NF3 Counter (Curry Counter).

The NF3 Counter is a fan engagement platform rewarding Curry fans during his battle through the playoffs. For every Curry three-pointer, fans can claim free digital basketballs.

There is only one claim per wallet per game. After minting, owners can view their NFTs on OpenSea, where fans can buy, sell, and trade the basketball NFTs.

The latest launch is not Under Armour’s first brush with Web3.

In December, Under Armour launched an NFT collection to celebrate Stephen Curry’s three-point record on December 14.

Under Armour announced the drop on Twitter, saying,

“In celebration of the greatest 3-point shooter in the UNIVERSE, we are dropping 2,974 pairs of @stephencurry30’s record-breaking shoe in the Metaverse. The “Genesis Curry Flow” NFT drops at 8pm EST: 2974.Currybrand.com.”

 

By owning 1 Polygon (MATIC) based Genesis Curry Flow, holders are entitled to 1 Decentraland (MANA) shoe, 1 Sandbox (SAND) shoe, 1 Gala Games shoe, and 1 Rumble Kong League shoe.

In November 2021, Under Armour launched Curry Brand to compete with Nike and the Jordan brand.

Under Armour Hikes Annual Revenue Outlook Causing Shares to Rally by 25%

Retail giant Under Armour increased its annual outlook earlier today, leading its stock price to rally by more than 15%.

Under Armour Increases Its Annual Outlook

Clothing giant Under Armour reported its third-quarter earnings earlier today, and the company increased its annual sales outlook thanks to its recent strong performances. The company has been improving its brand since Chief Executive Officer Patrik Frisk took over and is on track to record one of its best years in recent times.

Under Armour said it expects sales to rise by 25% from what was recorded last year, surpassing its earlier outlook. Frisk has made changes in the company by increasing marketing spending and pulling inventory out of discount channels, allowing Under Armour to sell its products at full price.

The CEO told analysts that Under Armour is now looking into team sports and focusing its attention on the importance of mental strength, not just physical abilities. Under Armour generated $1.55 billion in the previous quarter, surpassing the $1.48 billion expected by market analysts. The earnings per share was 31 cents, doubling the 15 cents analysts had estimated.

The net income for the third quarter of the year rose to $113.4 million, or 24 cents per share, which is better than the $38.9 million, or 9 cents a share, during the same period last year.

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UAA stock chart. Source: FXEMPIRE

UAA Surge By More Than 15%

The shares of Under Armour have been rallying since the retail giant announced that it had increased its sales outlook for 2021 following its recent performance. UAA surged by more than 17% during Tuesday’s pre-trading session, and it continued well into the US trading session.

At the time of writing, UAA is up by 16.52% and is trading at $25.61. UAA is one of the top-performing stocks in the retail clothing sector. Since the start of the year, the company’s stock price has increased by 49%, outperforming numerous other retailers. UAA is up by 77% from this time last year, indicating that the CEO’s numerous initiatives to change the company are working.