He becomes the second player - after Chauncey Billups - to be named to at least five all-star teams after not being selected in his first eight seasons in the league.
Silver paid tribute to both Wade and Nowitzki's contributions to the game.
For more sports coverage, visit the ABS-CBN Sports website. "As a global celebration of basketball, our All-Star Game is an ideal setting to salute these first-class NBA champions and Finals MVPs".
It's an achievement finally broken through by the 22-year-old Simmons, whose Philadelphia team is now third in the Eastern Conference standings with a 33-18 record.
The Oklahoma City Thunder centre missed out on being one of the seven reserve players added to the Western Conference team.
"If I'm choosing an All-Star, I'm not picking me", Wade said last week.
"He's proven game in and game out that he's an All-Star type player".
And now, one more time, they're All-Stars.
The bench players announced on Thursday were selected by coaches. As the All-Star starter from each conference who received the most fan votes in his conference, Lakers forward LeBron James and Bucks forward Giannis Antetokounmpo will serve as captains in the All-Star Draft that will be televised by TNT on February 7 at 7 p.m.
Wade - a 12-time NBA All-Star - and James were teammates on the Heat, winning NBA titles in 2012 and '13 after being stunned by Nowitzki's Mavericks in the 2011 Finals.
Jokić, 23, has led Denver to their best record in franchise history through 50 games while averaging 20.1 points, 10.4 rebounds, 7.7 assists and 1.43 steals in 31.4 minutes per game.