Sacramento Kings launch Ethereum-based auction platform

The Association of the Blockchain technology with the real world is an important factor that can ensure a rising confidence and a continued rise adaptation. The basketball team Sacramento Kings from the United States of America is a good example.

The Sacramento Kings have teamed up with the New York Blockchain-Software development company, ConsenSys together to create a new auction platform for Fans, who can bid on sports equipment in the game. The tech-savvy NBA players, who have already adopted in 2014 as the first sports team in the world of Bitcoin, have launched on Wednesday, the blockchain-based platform for authentic memorabilia.

The total value of the US sports memorabilia market is estimated according to the official announcement to 5.4 billion dollars annually.

By using this [Ethereum-]platform, every auction item is authenticated, and a transparent audit trail of a product history is created, so that the Fans can be sure that every piece of equipment is authentic.

The Fans of the Sacramento Kings can auction off during all of the upcoming home games of the team on the auction website of the team, the Sacramento Kings + Golden 1 Center App, and the official Kings.com site your equipment. This partnership follows the recent launch of the first physical crypto-collectors piece in professional sport by the Kings, and the first blockchain-based rewards program in the NBA to In-App Gaming.

In the year 2018, the Kings were the first professional sports Team in the world, the supported cryptographic money, and announced a charity program, MiningForGood, that donates these funds for staff development and training in the community. Last year, the Kings have also presented the first special room in the NBA for a free, predictable game experience in the Arena.

Ryan Montoya, technology, Board of Directors of the Sacramento Kings describes (freely translated):

We have integrated the Blockchain technology across multiple platforms in our business, including our rewards program, and now our Fans will have the opportunity to purchase authentic, game worn items in real-time with an innovative, blockchain-based solution is safe.

The Kings were the first professional sports team in the world that has mined Ethereum. Their latest Initiative underlines its efforts to promote the digital economy and to increase the acceptance of the Blockchain technology, the authentic items track and the Fans can effectively protect against fraud, fraud, and the current on the secondary markets selling imitations.

Bradley Feinstein, the head of business development at ConSensys, adds,

Because the Ethereum block Chain wins as a new basis for global cooperation, through trust and transparency becoming more and more important, we open deeper possibilities, in order to provide insights into complex global supply chains and consumer behaviour to strengthen.

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