Will Blockchain Powered Scavenger Hunts Become a New Normal Marketing Scheme for Sports and Other Entertainment?
by R.A. Rowell
The blockchain-happy NBA Sacramento Kings are taking their blockchain rewards program to a new level with a line of unique collectible toys created by CryptoKaiju having a digital blockchain counterpart. While these toys are physical, each is absolutely unique and they come with an encrypted NFC chip that gives the owner a non-fungible token (NFT) which is authenticated on the Ethereum blockchain. Some of these tokens - 15 of them to be exact - will also offer the owner of that collectible actual team-related perks such as court-side seat tickets, VIP tours of the Kings arena, autographed team merch, and meet-and-greets with Kings players.
These physical keepsakes with digital blockchain counterparts are a first in sports. The Los Angeles Dodgers gave away 40,000 digital Dodgers bobbleheads to attendees of a Dodgers game. But, those exist purely on the blockchain, while the Kings collectibles have a physical counterpart. The attraction of monthly scavenger hunts to find and own these extremely limited edition blockchain-backed keepsakes may entice other sports teams, and other entertainment venues, to follow suit.
If blockchain collectibles are to go truly mainstream, having physical items which themselves are unique and have a digital token that’s equally unique are probably the way to go. Some of those that end up with these collectibles probably just want the one-of-one physical item and may not care about the digital token that comes with it. But, because there are potentially valuable rewards related to authenticating ownership of that token, like what the Kings are offering, owners are going to be strongly compelled to dip into the Ethereum blockchain world to see if they’ve won something.
Imagine the marketing possibilities of scavenger hunts for collectibles like these could do for really any brand or company. Even if they are simply codes that unlock an NFT, it could revolutionize marketing forever. Already, there are companies like Reewardio helping businesses create blockchain-powered rewards programs. The Kings have already created one and it’s likely that the L.A. Dodgers are going to follow suit sooner or later. Before I’ve written about how blockchain collectibles are set to revolutionize game marketing. Now, the Kings are setting a precedent that I’m sure other entertainment companies are going to follow within the next few years.
This development of unique physical toys with digital blockchain collectible counterparts is exactly why I’m so excited about the emerging digital collectibles market. Blockchain technology takes digital collecting to a whole new level of true asset ownership with no possibility of counterfeiting and making worldwide transactions of these items inexpensive (or even free) and easy. Not only are these digital collectibles easy to collect with none of your own storage space necessary (except for the wallet apps on your devices), but they are truly your own and exist as true virtual assets.
With collectors of physical items creating their own portfolios on a regular basis, it won’t be long before producers of these collectibles create blockchain-backed counterparts for them.
From trading cards to collectible toys to bobbleheads, digital blockchain collectibles are here to stay. The possibilities are endless. Which brands do you hope to embrace this new revolution in digital and physical collectibles joining forces?
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R.A. Rowell is a collectibles enthusiast who comes from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, both on the blockchain and off.