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NBA Team Sacramento Kings Rolls Out Crypto Collectibles

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Sacramento Kings launches crypto collectibles

The Sacramento Kings NBA basketball team has launched crypto collectibles. The pro team unveiled this news via a press release on October 16, noting that it had joined hands with Cryptokaiju in this project. Together, the two parties aim to give away 100 limited-edition Kaiju collectible toys. This giveaway will reportedly last throughout the 2019 to 2020 basketball season.

According to the press release, each collectible will have the backing of a non-fungible token. This means that each toy will be unique. Also, 15 of these toys will come with a distinctive experience or prize. Examples of these prizes include, but not limited to getting courtside seats, VIP tours, and signed items.

Commenting on this move, Sacramento Kings’ CTO, Ryan Montoya said,

We are thrilled to bring these unique, limited-edition collectibles and immersive experience to our fans. We are always looking for ways to be on the leading-edge of enhancing fan interaction, and this partnership with CryptoKaiju is an exciting opportunity to continue to employ technology that delivers innovative products and content to our fans.

Growing Interest in Crypto by Sports Teams

Before this, Sacramento Kings made headlines five years ago after becoming the first sports team to accept BTC at its team store. A report unveiled this news, noting that the team had announced it would accept BTC for sports gear and tickets.

At that time, the majority owner of the team, Vivek Ranadive said,

When I sold the NBA on keeping the team in Sacramento, my pitch included using the sports franchise as a social network to push the technology envelope. This is an example of that.

According to him, accepting payments in BTC was a step towards helping fans keep their wallets home. He noted that the wider adoption of crypto would see arenas become ticketless and cashless environments.

Apart from Sacramento Kings, the Dallas Mavericks also started accepting BTC as payments for tickets and merchandise. The team revealed that BitPay would be in charge of processing all BTC payments that went through the team’s site. This move saw the team become the second NBA team to accept payments in bitcoin.

Stepping away from the NBA, the Major League Baseball Players Association (MLBPA) joined hands with a crypto-collectibles startup to launch a new token in the past year. Dubbed Player Tokens, the coin reportedly sought to introduce baseball fans to crypto. The token offered the first-ever in-market athlete digital crypto collectible.

This news comes after Sacramento Kings launched a blockchain token for its “Call the Shot” gaming app in the past week. The team partnered with Blockparty, a New Jersey-based blockchain-powered ticketing firm in this initiative.

Do you think Sacramento Kings’ decision to roll out crypto collectibles will help boost crypto adoption in the sports sector? Let us know in the comments below?

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