NBA blockchain token wants Sacramento Kings fans to ‘call the shot’
Sacramento Kings has become the first professional sports team to launch a blockchain-powered reward program. The Kings partnered with blockchain startup Blockparty for the project, which is expected to enhance the NBA’s first predictive gaming application, Call the Shot.
Blockparty will use blockchain technology to track Kings fans’ engagement and accumulate points in a virtual wallet within the fans’ Kings App. Any fan using the Call the Shot predictive gaming experience within the app can then earn rewards based on these points.
Enrolling in the rewards program is free, with the rewards being non-transferable. The tokens have no monetary value, but they can be redeemed for prizes such as courtside tickets and signed merchandise.
The chairman and CEO of Sacramento Kings, Vivek Ranadive, believes that blockchain will transform many businesses, in the sporting world and beyond. He stated:
We have only just begun to see the benefits of blockchain technology as it transforms the way business is conducted worldwide, ensuring secure transactions across multiple sectors and customers. We are committed to continuing to deliver the best fan experience and are excited to bring this transformative technology to life to award our loyal fans through experiences in a secure and transparent way.
The Kings have always been quick to adapt new technology to enhance the experience for their fans. In 2014, the team became the first in the NBA to accept payments in crypto.
In yet another first, the Kings set up crypto mining operations in their Golden 1 Arena, becoming the first professional team to do so. The team mines Ether, with the proceeds being channeled towards workforce development and training efforts in Sacramento.
Known as the Kings Token, the token will be part of a predictive gaming platform that the team has built for its fans. The ERC-20 token will run on the Ethereum blockchain, a club official told CoinDesk. The team plans on launching the project in testnet by opening night on October 25.
Shiv Madan, the Blockparty CEO believes that blockchain technology will become more popular in the NBA. He stated, “Our technology should give the Kings more flexibility in how they reward their most loyal fans. We expect others in the NBA will follow the Kings lead in the years to come.”
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