MLB, Sweet Digital will World Sequence Ring with Dodgers NFT. to supply
The Los Angeles Dodgers celebrate after beating the Tampa Bay Rays 3-1 in their sixth game to win the 2020 MLB World Series at Globe Life Field on October 27, 2020 in Arlington, Texas.
Sean M. Haffey | Getty Images
Candy Digital, owned by Major League Baseball and Fanatics, will release another NFT and attract some perks for collectors.
The parties will offer an exclusive, non-fungible token to honor the 2020 Los Angeles Dodgers World Championship. The highest bidder will receive a digital collector’s item, a physical championship ring and a “first pitch experience” at an upcoming Dodgers home game. The auction starts on Monday on the Candy Digital website and the net proceeds will benefit the team’s community foundation.
In a statement, Noah Garden, MLB’s chief revenue officer, called the Dodgers NFT “a unique collectible” as it is the first licensed Team NFT to be released under the league’s licensing agreement with Candy Digital. The parties joined the partnership in June, and through licensing deals, MLB earns a royalty from primary and secondary sales of its assets.
Candy Digital will generate income through primary sales of MLB’s assets and NFT trading fees, and will operate its baseball NFTs on the Ethereum blockchain. The company began its partnership with MLB this month via a Lou Gehrig digital collectible.
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Candy Digital will also be releasing an open edition of Dodgers NFT with the 2020 World Series and the Dodgers logo for $ 20.20. Sports NFTs became popular earlier this year with Dapper Laps’ NBA Top Shot product. Individual athletes, including National Football League star Rob Gronkowski, have also released their versions of NFTs.
According to Nonfungible.com, which tracks NFT sales, the sector has cooled off as companies reopen. Between February and June, the website recorded a peak in sales of sports-related NFTs of around $ 26 million in March. However, last month that number fell to about $ 9 million.
Still, MLB sees long-term growth with NFTs and is counting on Candy Digital to deliver. The company’s founders include Fanatics owner Michael Rubin, who is also part of the Philadelphia 76ers’ group of owners, and Mike Novogratz, founder of the crypto trading bank Galaxy Digital. Entrepreneur and CEO of VaynerMedia Gary Vaynerchuk is a board member and advisor to Candy Digital.