How The LA Kings Are Utilizing Blockchain & AR To Authenticate Merchandise
After winning 2 Stanley Cups in just three years, the Los Angeles Kings have found themselves in quite a predicament having to deal with counterfeit memorabilia.
“We started our game-used merchandise business in-house a couple of years ago,” stated LA Kings executive Kelly Cheeseman to FOXBusiness’ Stuart Varney on Monday. “And we really wanted to make sure that we provided a high-end level of authenticity with that.”
Team LA and the LA Kings Game-Used Merchandise have been working together to sell helmets, jerseys, skates, sticks, gloves, pucks and other genuine collectibles both online and at the Team LA store inside the Staple Center. However, their rise to success coupled with the high value of these treasured game items has caused many counterfeiters to try and sell fake merchandise.
In response, the LA Kings announced on February 20th that they have officially launched a blockchain-based authenticity app for individuals to use to verify the genuineness of LA Kings merchandise. Once a customer has downloaded the Augmented Reality (AR) Authentication App from the Apple Apps Store or the Google Play Store, they must first verify their identity and then point their smartphone at the COA (Certificate of Authenticity) sticker on either the merchandise or the certificate. If the piece is registered, the individual will hear a message from Robitaille or the Kings Head Equipment Manager Darren Granger. However, if the article is counterfeit, the App will remain silent. Once authenticated, the individual will receive a hard-copy of the COA sent directly to their phone.
The idea is, through the use of blockchain and AR technology, the App can discern whether merchandise is authentic and game registered or a fraud. Even individuals can transfer ownership of genuine goods through the App.
How does it work? While the press release did not reveal how the App works technically, consumers were privy to the function of both the AR and blockchain used to authenticate. The AR is used to confirm the actual goods and blockchain is used to safeguard the integrity and protection of ownership data. The App can give Kings fans the protection and security that they are spending their money on authentic goods.
“The LA Kings pride ourselves on innovation and a drive to be first-in-market as it relates to our digital strategy,” stated Jonathan Lowe, Senior Vice President of Business Development and Brand Strategy.
“This utilization of AR and Blockchain in the sports memorabilia realm is truly a first of its kind but — more importantly — also adds extra layers of authentication and security to the many fans who have become customers of our Game-Used product.”
The App can hopefully prove useful in a wide variety of sports. Fans and consumers are always interested in acquiring or selling team items that could be labeled as collectibles dating back to the day of baseball trading cards. Such limited and special items will always remain as the heart of all sports teams.
Other Teams Adopting Blockchain Technology
2018 saw an influx of blockchain experimentation within the European football world. Clubs have begun to utilize aspects of blockchain technology, bringing an unparalleled level of transparency to sports marketing. Not only can changes be made to ticketing practices, but also sponsorship and partnership agreements as well as the buying (or transferring) of players and clubs.
Juventus announced this past fall that they plan to launch the Juventus Official Fan Token in Q1 of 2019 with the help of Socios.com, a blockchain-based fan engagement platform. The Fan Token will allow fans across the globe to interact through a mobile voting platform giving them a chance for their voices to be heard by club executives.
“Juventus is glad to welcome Socios.com to our partners,” stated Giorgio Ricci, Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus. “At the Club, we are always very careful and pro-active towards innovation and new technologies. Together with Socios.com, we believe that we can offer new opportunities to our worldwide fan base to engage in cutting-edge way with their favorite club.”
How Is Instant Sponsor Using Blockchain In Sports Marketing?
Through the use of blockchain technology and smart contracts, Instant Sponsor has created a premium sports marketplace that facilitates secure, efficient and cost-effective sponsorship inventory transactions between brands and rights holders. This new and powerful ecosystem has the potential to disrupt the sports marketplace as we know it.
Between 5–50 percent of a professional sports team’s sponsorship inventory goes unsold each season, resulting in billions of dollars of lost revenue across the sports sponsorship industry.
Instant Sponsor lowers the barrier of entry for brands to buy that unsold inventory on short-term contracts and eliminates the elongated process of securing sponsorships.
Instant Sponsor, like other blockchain-powered sports businesses, has the profound potential to transform the sports and entertainment marketplace completely. Times are changing, and the blockchain technology is starting to shift into a more mainstream software for companies to move further into an already digital-dominated age.
If you are interested in learning more about Instant Sponsor’s platform, check out the Instant Sponsor website and join the Official Telegram Community to receive news and updates about the company and sports sponsorship industry.
