Glittering NBA History witnessed total 45 franchises since the outset. 30 of these 45 franchises are still active, but 15 of them have taken their place in history books. Last folded franchise was Baltimore Bullets which ceased their operations after 14 games (with 3-11 record) in 1954- 55 season. But they are not unique. Also in 1950-51 season, Washington Capitols folded after 35 games (with 10-25 record).
9 of these 15 folded franchises, only lasted one season at NBA (or at BAA before merger in 1949), so probably you are not familiar with their names: Anderson Packers, Denver Nuggets (it’s dead one), Sheboygan Red Skins, Waterloo Hawks, Indianapolis Jets, Toronto Huskies, Cleveland Rebels,Detroit Falcons and Pittsburgh Ironmen.
Here is all folded franchises: