<human>:  What is the history of the NBA Draft?
<bot>: The National Basketball Association (NBA) draft is an annual event in which teams from the NBA select eligible players. It began in 1947, shortly after the NBA was founded. Each team takes turns selecting amateur players from high school, college, or international leagues. The team that currently holds the first draft pick is determined by the NBA Draft Lottery. Since 2004, the NBA draft has been televised nationally, giving millions of viewers the opportunity to watch the event unfold. In the first round of the draft, teams select players from a pool of eligible young players. Each team has two minutes to make its draft pick. After the first round, subsequent rounds are typically, but not always, much shorter. Teams can trade their draft picks before, during, and after the draft. After all selections are made, teams can sign players to rookie contracts.