Toronto Blue Jays' President confirms that the league is exploring ways in how to use NFTs to gain fan interest
NFTs have become the focus of many sports associations and artists in a bid to bridge the gap between the clubs and their supporters, increasing fan engagement.
The MLB is no different as the league's chiefs and President of the Toronto Blue Jays confirmed that the MLB are exploring ways on how to utilise NFTs as they believe it will increase fan interest in baseball.
NFTs were adopted by music artists early on before sports associations took on the trend. NBA TopShot has by far been the most popular type of NFT generating more than $230million in sales. MLB are set to follow the NBA and take advantage of this trend, however, the MLB is looking at developing NFTs on a league side of things rather than focusing on individual teams.
According to Mark Shapiro, the President of the Toronto Blue Jays, believes that the cutting edge technology will take the MLB to the next level as the six-time East Division champion plans said:
“We’re looking at those things more on the league side than an individual team side. That’s the way the MLB is structured. From an ownership perspective, it’s something we’re spending time on right now and [have] ventures in the works that will explore NFTs for MLB.”
The MLB's Chief Operations and Strategy Officer, Chris Marinak, also confirmed that the MLB will be participating in the NFT space, although he did not provide any specific details.
It is still yet to be seen what will happen in the MLB as the league concluded its partnership with Lucid Sight Inc., the company behind the first baseball-related NFTs, MLB Champions.
MLB franchises are not the new to the crypto and NFT space. Earlier this year the Oakland Athletic's President, David Kaval, announced that the baseball club will now accept bitcoin payments for 2021 season tickets and a six-person suite.
The MLB side became the first to sell tickets for Bitcoin as a cryptocurrency company called Voyager Digital purchased a full-season suite for one full bitcoin.
About AIBC Dubai:
AIBC UAE will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.
It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.