While every entity and every individual in all parts of the world seems to be already flirting with the NFT market, some new entities are just making their grand entrance into the scene. The NFT market, even though it has been very much around for a long time, burst into prominence after the Beeple art sale that was worth $69 million.
Ever since then, various companies and individuals have been making their entrance into the scene with a view to either owns a piece of NFT or sell their piece. In a further push on the part of the NFT market, Major League Baseball is set to make their massive entrance into the scene, being the latest entity to do such.
The NFTs would be hosted on the WAX blockchain
In a recent announcement that Topps made, it mentioned that it is set to partner with various entities in the sport to release the baseball card collection for this year. Notably, the partnership will feature Topps, MLB, and the arm, which brings profit for the MLB players association, MLB Players inc.
Even though Panini had previously released a card based on the league, the association has pointed out that these NFTs will be the first-ever ones to be sanctioned by the association. Going further, the announcement mentioned that the NFTs would be put on the WAX blockchain and would be available to people who wish to buy them as early as April 20.
However, this is not the first time Topps would be using this blockchain to host NFTs as it has previously used it to list NFTs belonging to Garbage Pail Kids. Before making it an NFT, Topps was said to have initially made them tradeable cards. Talking about how the cards would look like, Topps mentioned that it would roll out a bunch of throwback cards belonging to icons in the sport.
This is the second time the MLB is trying the collectibles market
After that, Topps mentioned that they would have a set for their Platinum anniversary before rolling out another set that would have legendary players. Even though NFTs have gained massive popularity, most people are still not satisfied with their definition or what they do.
In simple terms, NFTs are digital tokens; even though they are not like Bitcoin, they are available on blockchains, and the owner has complete control over the asset in real life. One limitation of NFTs is that they are scarce as they can be a scarce piece of art or records or videos. However, this is one reason why the market has blown up over the past few months, as people are struggling to get their hands on the rare pieces.
This is not the first time MLB would be venturing into the collectibles market, as a previous move into the market saw it end with disappointment. Even though the platform employed cryptokitties which were very much the talk of the town, it did little to push their collectibles at the period. But who knows, things might change this time.