Sports fans (or anyone interested in making money) – listen up…
With the blockchain, you could make big gains from your favorite athletes.
For example, I expect to make at least 440 percent returns from baseball player Shin-Soo Choo if he has a decent season this year. He plays right field for the Texas Rangers in the Major League Baseball (MLB) sports league.
And if he makes the All-Star Game like he did last year… I could make 1,000 percent.
Through the Shin-Soo Choo digital collectible I bought from an online baseball draft licensed by the MLB Players Association.
The 2019 digital collectible for Shin-Soo Choo
MLB digital collectibles are a kind of crypto token, known as non-fungible tokens (NFT). With an NFT, a digital representation of Shin-Soo Choo is recorded on the blockchain, with me as the owner, until I decide to sell. The developers of the collectibles have also created a fantasy-sports type of game to go with the collectibles.
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The non-fungible part means that the blockchain protects collectors from fraud by verifying the authenticity of each collectible. So while someone could copy the artwork, all of the collectibles are registered – while the fakes are not.
NFTs also all have one characteristic that could allow them to be worth a fortune – a very limited supply.
For the 2019 MLB season, the total number of collectibles created in the draft was 195,000. That’s for the whole league, where up to 100 million people tuned in to watch games in 2018, according to ESPN.
We also won’t know exactly how many of each player were created until the draft finishes. So my Shin-Soo Choo could be common or it could end up being pretty rare.
440 percent returns from MLB digital collectibles
Investing in the 2018 version of the MLB collectibles made investors 440 percent returns when the collectibles rose from their original price of US$5 to an average of US$22 between December 2018 and January 2019.
But some of them did much better than that. If you were lucky enough to own a Babe Ruth – a very rare collectible – you’d have been able to sell it for an average price of around US$444. The 2018 MLB trophy collectable sold for US$12,400.
Of course, there’s no guarantee this year’s collectibles will do as well.
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Investors who are interested in collectibles are faced with a broad range to choose from. There’s plenty out there, ranging from sports figures to cute animals, and not all of them will be profitable. But these digital MLB collectibles could see their prices rise because they’re still new and very limited in supply.
If you’re interested in purchasing these collectibles and are savvy with Ethereum and Metamask, you can buy your favorite player from the draft here. The draft doesn’t have a set end-date. It runs until all 195,000 of the collectibles are purchased. That’s estimated to be through mid-May. You can also buy collectibles directly from other sellers on the open market here. And you can check values here of real-time transactions.
If you want to purchase these collectibles, I encourage you to act before the lineup is set for the MLB All-Star game, which is played on July 9. The All-Star game features the best players in the league. This often drives the values of collectibles for these players up.
These collectibles are just another example of how crypto and the blockchain innovation of recording and storing information from our daily lives is growing.
As I’ve shown you before, it’s being used in everything from tracking diamonds and fine art to reduce fraud… to improving national security… to making gambling fair and transparent… to making voting easier.
All of this is just the beginning. Crypto and the blockchain are here to stay.
Lead Crypto Analyst