Major League Baseball is coming to blockchain.
Unlike the banks and whatever IBM is promoting as blockchain, this is legitimate. MLB will be using the Ethereum blockchain to release a new game.
Could this be a move that starts to open the floodgates?
If nothing else, it provides further validation for the crypto-economy that was are starting to see develop.
MLB announced Friday that it has partnered with Lucid Sight, a blockchain startup based in Los Angeles, to launch a dApp game on ethereum late this summer to allow baseball fans to interact with their favorite moments during the games, Yahoo Finance reported.
The game, MLB Crypto Baseball, will work similarly to CryptoKitties, which had a direct influence on the baseball league's new game, according to MLB executive vice president of gaming and new business ventures Kenny Gersh.
In order to play this game, users must purchase ether and transfer it to MetaMask, one of the most popular ethereum browser wallets. After that, they can trade digital avatars tied to specific moments in recent games while possibly earning rewards and stickers.
https://www.coindesk.com/major-league-baseball-collectibles-are-coming-to-ethereum/
This is a huge step. MLB is well known American brand that does close to $10B annually in revenues. They are embracing a truly blockchain, decentralized with a cryptocurrency tied to it.
According to the article, this move is done in an effort to offset decling attendance.
Here is a prime example of the advantage that the crypto-economy offers. It is a new medium to increase revenues in ways that did not exist before. The success of CryptoKitties provided a model for what is possible.
The key here is the decentralization. MLB loses some control by being on the Ethereum blockchain yet still have some control since it is their brand name that is the appeal. It is a nice merging of two and shows some of the potential for future branding by mainstream companies.
Another benefit to all this is that fans get to participate in another activity during games while earning "rewards". I am not sure if the items will be able to be swapped out for Ether but if CryptoKitties is any example, there is a chance that these digital pieces could appreciate in price. Either way, one can redeem for apparel for MLB Properties.
Regardless of what occurs, it is an avenue for a mainstream entity to create a bit more loyalty from the fanbase while expanding its reach.
A great deal was written about blockchain as a means of altering finance. However, the marketing opportunities that exist because of the crypto-economic technology is enormous.
Hang on kids, this industry is still very young. People are just starting to figure out some of the ways it can be utilized. We will see an explosion of innovative ideas over the next few years.
Cryptocurrency is a very good thing to be involved in.
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