The championship team maintains permanent possession of the trophy (although one exception exists, as described below). The year and winning team names are engraved on the trophies, and are often prominently displayed in the winning team's arena.

Do players get a NBA trophy?

It's a tradition based on a desire to reward the individuals in a winning team with a memento of their success. There can only be one trophy per team, so there had to be a way of honouring the members of that team, too.

Does every player get a Larry Obrien trophy?

The Larry O'Brien Trophy — which is named for the late former NBA commissioner — is awarded at the NBA Finals every year, and has been "designed" and "handcrafted" by Tiffany & Co. since 1977.