Major League Baseball Players Association (MLBPA) has entered an exclusive partnership with Player Tokens, a Seattle-based cryptocurrency startup to create digital crypto-collectibles that are half baseball trading card and half digital asset.
The new crypto-collectibles will feature 73 All-Stars and players from all 30 Major League baseball teams, Kush Parikh the founder and CEO of Player Tokens, is currently collaborating with the MLBPA to introduce fans to the world of crypto-collectibles, offering users the first ever in-market athlete digital crypto collectible.
Although Player Tokens is not a true cryptocurrency, the idea behind the product is that digital assets would be offered in different “packs” similar to what you would normally get with trading cards and have a unique ID. The unique ID would go through a blockchain network to validate the authenticity of the crypto-collectible. This method, as Parikh described, would enable Player Token to know which tokens are tied directly to the collector.
The crypto-collectible tokens would be embedded with the image of the players and their signature. Although similar to physical or digital trading card, information like the date of production and previous ownership can be tracked on the blockchain. They can also be traded on crypto marketplaces.
Parikh said in an interview that the main intention of Player Tokens is “to deliver a simple, fun collectible, accessible to all fans and collectors globally, whether crypto veterans or novices.”
When Player Tokens is launched, three types of token packs will be made available for purchase, each consisting of five to six Player Tokens and priced between $5.99-$8.49. Fans can purchase tokens exclusively through the Player Tokens web and mobile sites from any part of the world.
MLBPA’s deal is further indication that the sports sector is embracing blockchain tech. Not too long ago, the National Football League Players Association (NFLPA) became one of the first sports association to purchase a minority stake in blockchain startup SportsCastr, a live-streaming platform that allows anyone to become a sports commentator.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.