Teams from the National Basketball Association (NBA) have been diving head first into the blockchain and crypto space. More so than any other team, the Sacramento Kings have been increasingly turning to blockchain technology to assist it in growing its fan base. In 2019, the Kings teamed up with BlockParty to help reward fans and keep track of their rewards on the blockchain.
In the latest move, the Kings have now teamed up with Consensys to launch a new blockchain based auction platform, allowing fans to bid for game worn merch.
Verified Merch on the Blockchain
All merchandise sold through the platform will be verifiably authentic and the owners of the merch will be able to prove their item is genuine. Not only does this help primary buyers of merch, but it also helps secondary and tertiary buyers of official merch know what they’re getting. Fake items won’t be listed on the blockchain, and this should help stamp out fake items being sold.
Profits Going to a Good Cause
The first item up for sale is a match worn jersey from Buddy Hield. Currently the bid is around $400, and the profits from the sale of the item will be donated to victims of Hurricane Dorian. It’s not the first time companies have used blockchain tech to raise funds to help charitable causes, and the Kings are simply trying to do their part.
NBA stars are starting to tokenize their contracts and this could be the next step for the Kings. If the Kings register their players on the blockchain and allow players to tokenize their contract, players could end up owning a slice of players and being able to make decisions as to their future. With blockchain tech, the possibilities are endless.