Player Tokens has partnered with the MLBPA to bring digital crypto-collectibles of popular players. (Photo credit: Player Tokens)Player Tokens
A Seattle-based startup is partnering with the Major League Baseball Players Association to create digital crypto-collectibles that are one part baseball trading card and one part digital asset.
The company, Player Tokens, led by founder and CEO Kush Parikh, has reached a deal with the players’ union to introduce fans to the world of crypto-collectibles. Not to be confused with crypto-currency, the idea is that the digital assets come in different “packs” similar to what you would normally get with trading cards and have a unique ID that can be tied back through blockchain technology to prove its authenticity. In doing so, Player Tokens is able to know what tokens are tied directly to the collector. The tokens come with images of the players with their signatures, much like you would find on a physical or digital trading card, but they are multidimensional, allowing one to track mint date and previous ownership, and can be sold or traded on crypto market places.
“We’re really trying to leverage the collectible world from baseball,“ Parikh said. “We’re looking to have fans collect their favorite players and we’ll build more engagement between the fans and players through the digital experience. There’s a scarcity aspect that will make it fun from a collectibles perspective.”
The plan is to build fan experiences with actual players and teams with those who purchase the tokens. “The players will know exactly who is collecting their tokens given the ability to track the asset,” said Parikh.
The MLB players see this as an opportunity to tap into a new age of collectibles.
“Baseball has a strong track record of being pioneers and innovators, especially in the collectibles industry,” said Evan Kaplan, the MLBPA’s director of licensing and business development. “We believe Player Tokens is taking a great step forward, modernizing the fan and collector experience while paying homage to the rich history of baseball collectibles. We look forward to fans, collectors and players engaging in new ways through Player Tokens.”
Player Tokens is touting itself as the first company to sell crypto-collectibles without the need for a crypto wallet or crypto knowledge. Purchases can be made with a standard credit or debit card. Like baseball cards, the tokens come in packs. And as with real-life packs, there is the mystery of knowing who is in the pack, which largely depends on the type of pack one purchases.
Within a regular pack, there will be five player tokens, costing $5.99. The pack will guarantee at least one uncommon or better on the rarity scale.
Fans will have the ability to spend more for other packs that have player tokens with more valuable or rarer players based on a token tier (Common, Uncommon, Rare, Epic and Legendary). For example, an All Star Pack has five Player Tokens with a guaranteed uncommon or better, plus an All-Star.
Parikh said that the company’s deal with the MLBPA will start with 200 players, including all the players selected to the 2018 MLB All-Star Game, with an additional 100 players before the postseason kicks off. All 300 players will be minted with the same number of tokens, which will be randomly dispersed across the packs.
“Our intent is to deliver a simple, fun collectible, accessible to all fans and collectors globally, whether crypto veterans or novices,” Parikh said.
The agreement with the MLBPA is the planned start for the company. Parikh said Player Tokens is already working toward agreements with other sports leagues.
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