airplaylogo.bmpAirPlay, the San Francisco start-up that lets cellphone users play live interactive games during professional sports games, launches its NBA game offering today.

AirPlay kicked off with an NFL version last year, and recently raised $14 million in venture capital. See our coverage here.

Cellphone users can see live broadcasts on their phone, and they can play against each other on their phones with their own fantasy teams. They can manage a five-man roster of NBA players participating in any live game, and substitute players in and out of the game, earning points as their fantasy team performs.

This is new in that most mobile games are downloaded to the phone beforehand.

The game costs $3.99 a month to play, and is available on Sprint Nextel. In coming weeks, Verizon Wireless and Cingular will offer the service, the company said.

We’re wondering, has anyone tried the football version? If so, is it any good?

Today’s annoucement is here.

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