When the idea of crypto-collectibles was first explained to me, it was weird to think people would spend thousands on digital cats that have no historical context. Their cats that look cute. So what?
But when I thought of it in terms of bigger brands releasing certain memorabilia via NFT tokens and being able to collect them in your wallet, enter them in competitions, display them via AR to others, etc, THAT was cool.
Imagine collecting Pokemon released by Nintendo themselves. Limited edition digital pieces you could own and trade on a marketplace. The thought of that has me hyped!
Major League Baseball is a BIG deal in America. I’m in Australia and I know this.
They’ve partnered up with Lucid Sight to bring the idea of crypto collectibles to their fan base of 10’s of millions! Check out the below video interview by Yahoo Finance.
Not only is this an exciting thing for all Crypto fans but it’s a BIG leap forward in showcase the use of how blockchain technology could change a space. In this case, Baseball Collectibles and Memorabilia.
How Does The Game Work?
The game is expected to evolve in time but right now, you can collect digital figures each representing a player in MLB.
You can buy them on the marketplace from MLB Crypto themselves or from others who are reselling theirs.
The price is dictated by a reverse auction.
Basically you set it at the maximum and lowest price and set a time to end the auction.
As the auction nears its end time it will get closer to the lowest price eventually being bought.
just like the graph below,
The above graph is of a piece that has 1 day left and will end at 0 at the time and date it’s listed to end.
I’ve been able to pick up a few figures for 0.04 Ethereum which is like $10.
Some pieces have gone for 18+ Ethereum and are expected to go for more!
Obviously the more popular the player, the higher it will sell for.
What Do I do with My MLB Players?
Ok, so now you have a few players maybe even a whole team! Now what?
There is a gameplay mode that is scheduled to be launched soon where you can put together your team who will receive points based on how their team performs.
As you win points, you can cash them in for more Players!
The way I see it, it’s an interesting mash up of fantasy football or soccer manager and Memorabilia/collectibles.
Where you can trade and create your own teams based on your favorite players and make money doing so!
Is it Worth Investing in?
It’s definitely worth buying a few players. Once you track the sales, you will be able to tell which are good deals.
You can snipe some of the cheaper figures as they get closer to the tail end of their auction. You’ll have to keep an eye on the clock and keep checking in.
It’s always worth checking the MLB contract on etherscan.io to see the frequency and type of sales occurring.
There is a big fan base waiting to be marketed to. If MLB move their Memorabilia to crypto then their fans will have no choice but to learn about crypto, metamask, and how the whole thing works.
Which will slowly bring more interest to MLB Crypto.
It’s a new venture nonetheless just like many other crypto-collectible games and the territory is full of unchartered waters but where there’s high risk, there’s high reward.
It will be interesting to see how MLB Crypto grows as it’s one of if not THE first Big Brand Crypto-collectible push with a massive fan base.
Their success can trigger an effect for bigger brands to do similar things which can cascade quickly.
Hopefully the Ethereum network and crypto world will be ready to handle this.
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