I know that the Nets were presented with a trophy after beating the Celtics in the Eastern Conference Finals. They don't get any kind of second place award or ring. However, any team can make rings if they want to. If they feel like it, the Nets can make Eastern Conference Championship rings, but I don't know how special those would be.

I saw those highlights on ESPN as well, and I kinda laughed to myself. Growing up in Southern California and being a Laker fan, I always thought that NBA Championship banners and retired jerseys would be the only things teams would hang. But I remember the Charlotte Hornets used to have banners for leading the league in attendance.

For a franchise that was a woeful as the Nets used to be, winning the East was a big deal, and they wish to commemorate that. But for storied franchises like the Celtics and the Lakers, and more recently the Bulls, league championships are the only things worthy of getting banners and rings.