High-profile basketballers and fans are split on whether naming Tasmania's NBL team after a jumping venomous ant is a stroke of genius or far too obscure.

The league's 10th side, set to hit the court in season 2021-22, revealed on Thursday it will be known as the Jack Jumpers, a species predominantly found in the island state.

Reaction was mixed on social media, with Andrew Bogut, Shane Heal and former NBL player Chris Anstey among those not on board.

Tasmania chief executive Simon Brookhouse was confident the name would grow on people, saying it embodies the state's challenger spirit.

"A lot of the negativity is probably because people don't actually understand what it is," he said.

"It's synonymous with Tasmania and a lot like Tasmania itself, once you've been here you don't forget it

"I think that'll be the same with the Jack Jumpers."

The name was chosen ahead of Tridents after a public campaign that received more than 10,000 submissions was whittled down to two.

Brookhouse said Jack Jumpers had the most votes out of the final shortlist of five, which also included Pride, Mountaineers and Timbers.

Hobart-born former basketballer Hugh Greenwood, who now plays AFL with the Suns, said he was "all in" for Jack Jumpers.

But Anstey was less kind.

"The @NBL takes a great step back into Tasmania, then calls them the Jack Jumpers? My goodness," he wrote on Twitter.

Bogut replied: "Joking yeah? Good one. Got me good."

Tigers and Devils weren't considered given their association with the state's cricket team and AFL side.

Tasmania's rugby union team is also called the Jack Jumpers but the code hadn't trademarked the name.

The club will mostly play at Hobart's Derwent Entertainment Centre and is beginning the hunt for a coach and players.

"There are obviously embargoes on players contracted in the NBL that we can't talk to," Brookhouse said.

"But there are players in Europe, Asia, the US, college or professional. Obviously one of the keys for us is to get as much Tasmanian flavour to our team as we possibly can."

Tasmania has not had a team in the NBL since the Hobart Devils folded after the 1996 competition.

Jack jumpers are known for their unique ability to leap and their bite has proven fatal.