MLB is Quickly Embracing Blockchain and Cryptocurrencies

Major League Baseball is thinking forward as the league has started embraced the blockchain/cryptocurrency revolution. Both Major League Baseball and Major League Baseball’ Players Association have agreed to partnerships with blockchain-powered companies.

These partnerships have become new additions to the long list of sports leagues, teams, and athletes who have joined in pioneering this new technology. We have seen Mark Cuban and the Mavericks accept cryptocurrencies for tickets, athletes become endorsed by crypto companies, and players who trade cryptocurrencies (or are traded with cryptocurrency).

Let’s take a look at the three new partnerships formed between crypto companies and the MLB.

Player Tokens

Digital collectibles are the ‘baseball cards of the future’. Collectible cards and memorabilia in sports is a multi-billion dollar market and will now be given both a modern and technological twist.

The MLB Players Association has teamed up with Player Tokens, a crypto company that will create digital collectibles for MLB players that are one part trading card and one-part digital asset.

“At Player Tokens, we are re-imagining the collectible experience for collectors, fans and athletes by leveraging the latest technologies to provide experiences that were previously not possible,” Kush Parikh, founder and chief executive of Player Tokens told Forbes. “Our intent is to deliver a simple, fun collectible, accessible to all fans and collectors globally, whether crypto veterans or novices.

“As we build out the Player Tokens platform, you’ll see an ever-expanding way that fans and collectors can utilize their tokens, including engagement with their favorite players.”

Player Tokens is the first digital collectibles company that will allow buyers to purchase these crypto baseball cards with their credit card. And much like paper baseball cards, Player Tokens will be sold in packs between $5.99–8.49.

Player Tokens has 200 major leaguers that will be featured on their platform for buying and trading this season -including all players from the 2018 All-Star Game- with more to come in the future.

MLB Crypto Baseball

MLB Crypto Baseball will become the first blockchain game centered around a professional sports league. The dApp game was created by Lucid Sight and will feature officially-licensed, digital collectibles that are tied to the Etereum blockchain.

“This is a historic day for sports fans and blockchain enthusiasts alike as Lucid Sight and MLB have joined forces to create an entirely new genre of sports collecting and digital scarcity,” Lucid Sight co-founder and chief executive, Randy Saaf, said. “There are only so many firsts in human history. This is a big deal for sports collecting and blockchain technology.”

MLB Crypto Baseball has partnered with both Major League Baseball and it’s Players Association to bring fans unique crypto collectibles. The difference between this and Player Tokens is Player Tokens cannot use MLB team logos.

“We talked a long time ago about bitcoin and whether we should accept it as payment for and some of our other products, and we opted not to,” MLB’s executive vice-president of gaming and new business ventures, Kenny Gersh, said. “At the end of the day we decided that isn’t our business, we’re not in the speculation business. We’re in the business of delivering baseball to fans. So this game is a more interesting intersection of blockchain technology and what we do.”

The platform began releasing 30 players per hour on Monday night, priced at $20 per player. MLB Crypto Baseball will release 500 digital players for every team in the MLB, totaling 15,000 collectibles in all.

Depending on their popularity, players will have multiple collectibles or only one available to purchase — for instance, Mike Trout of the Los Angeles Angels will likely have multiple crypto collectibles available to purchase.

Once all 15,000 players have been released to the market, it will be up to the collectors to determine prices on this open crypto market.

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