Various physical assets and products can be digitized using blockchain technology. The latest major brand to explore this option is Major League Baseball and digital collectibles will come to the Ethereum blockchain as part of the new MLB Crypto baseball initiative.
MLB and Ethereum Meet in the Middle
It is not entirely surprising to see the MLB pay attention to digital collectibles. Although trading cards, baseball gloves, and signed baseballs will always remain incredibly popular, younger fans lean more toward digital offerings.
In this particular case, the digitized collectibles project will be taken care of by Lucid Sight. The blockchain gaming company is launching MLB Crypto Baseball. Thanks to an official licensing deal with MLB, the company can offer MLB digital collectibles on the Ethereum blockchain. The project seems somewhat similar to Cryptokitties, although it will work in a very different way because of the digital products being offered.
More About the Deal
With MLB Crypto Baseball, users will buy digital avatars tied to specific moments in recent MLB games. These items can not just be collected, but also sold in exchange for Ether. Users will also be able to earn rewards and stickers, which will make this concept a lot more appealing to consumers all over the world. It is a very different way of delivering baseball to fans, and one that can set a precedent for other sports franchises to follow.
This news comes at a critical time for the Major League Baseball industry. With in-park attendance figures dropping at an alarming pace, bringing fans back through this dApp is an option worth exploring.
Final Thoughts
One has to applaud the MLB for taking such a radical course of action as this new venture can be very lucrative for the baseball industry in the long run. Although the involvement of Ether as the only way of buying these assets may be a hindrance at first, it can help attract more people to the cryptocurrency ecosystem as a whole.
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