Panini America, one of the world’s largest collectibles companies, officially moved into the blockchain collectibles market this week with the release of its first set of blockchain-based trading cards.
According to the announcement, Panini America will be releasing 10 unique blockchain cards each week for a total of 100 cards. Each blockchain collectible has a 1:1 corresponding physical collectible, allowing auction winners to keep the physical collectible and resell the digital version or vice versa.
The first set of blockchain cards are National Treasures player cards from several major pro sports including football, soccer, basketball and baseball. The auction price for each card in the set starts at $100k and decreases over time.
Panini has elected to launch a private platform for its blockchain collectibles, meaning the secondary market for these digital cards will likely only exist on the Panini website’s marketplace.
“We have spent years researching and exploring the best possible way to incorporate blockchain into our trading cards as another level of authentication,” stated Panini America in a recent blog post. “We believe our platform and the fact that the cards will be sold in U.S. dollars rather than a digital currency will help fans and collectors have a better understanding, knowing that their cards utilize blockchain as another level of authenticity.”
Whether Panini’s decision to forgo a public blockchain like Ethereum (ETH) will impact the collectibles’ value or longevity remains to be seen. The company did not immediately respond to our request for more details about the blockchain.
More: Panini America’s Auction Launch Announcement
Similar: Stryking’s Christmas Bayern Munich NFT Auction Brings in Over 240 Ethereum (ETH)
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
