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MLB Players Association Inks Partnership with Crypto Collectibles Startup

Last Updated June 14, 2024 8:41 AM
Stephen Samuels
Last Updated June 14, 2024 8:41 AM

Blockchain in the sports industry received another boost as a new token (Player Tokens) was launched in partnership with Major League Baseball Players Association (MBLPA).

This new entry into the cryptosphere is a crypto-collectible service that features 73 All-Stars and players from all 30 Major League baseball teams. Player Tokens is intended to introduce baseball fans to the world of crypto (and vice versa), offering users the first ever in-market athlete digital crypto collectible.

Crypto in the Sports Industry

There is an increasing trend of cryptocurrency activities across the sports industry. This has appeared in different forms that range from celebrity endorsements to actual token-backed collectibles.

In a previous article on CCN.com, the intention of Major League Baseball (MLB) to launch its own Ethereum-based game crypto, in conjunction with blockchain dApp developer, Lucid Sight was publicized. This followed and announcement on the creator’s twitter handle.

Also reported was the actions of the National Football League (NFL) players association in investing in a blockchain startup.

The Evolution of Collectibles

Although this latest development from the MBPLA slots into the growing queue of blockchain innovations in the sports industry, it is expected by its creators to mark the next step in the evolution of collectibles, leveraging the best of the physical, digital, and crypto worlds.

“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,” said Kush Parikh, founder and CEO of Player Tokens. “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.”

At launch of Player Tokens, there will be three types of token packs available for purchase, each consisting of five to six Player Tokens priced between $5.99-$8.49. Fans worldwide can purchase tokens exclusively through the Player Tokens web and mobile sites.

This development contributes to the growing awareness of blockchain and cryptocurrencies. The nature of the sporting industry and the followership that it attracts goes a long way to help the emerging technology find encroachment into deeper parts of the mainstream.

Featured image from Shutterstock.