Unblockable has become the first company to introduce blockchain technology to the sport and entertainment sector. In its announcement, the company said that it is launching new crypto coins, whose value will be attached to real athletes plus their performance.
Tokens attached to athletes
The company said that the sports and entertainment fans will be able to purchase tokens that are attached to real-life athletes. They will be able to collect, trade and use the tokens to play games as well as participate in other experiences. In addition to the athletes, the tokens will also cover teams and leagues.
In a statement, Unblockable CEO, Jeb Terry, said that the company is introducing blockchain to the sports world using a very thoughtful and authentic approach. He noted that the approach is being spearheaded by a team of highly experienced serial entrepreneurs and experts who intent to use it to enhance as well as empower sports and entertainment fans.
Unblockable was founded by a group of experienced athletes and entrepreneurs- Kedric Van de Carr, Eben Smith, Greg Dean and Jeb Terry. The startup has an advisory panel, which is led by Ronnie Lott, an NFL Hall of Famer.
The sports sector is estimated to be worth $5 billion in the U.S and is part of the $370 billion collectible market. With the addition of new forms of businesses and entertainment due to the use blockchain technology, more untapped opportunities will be opened for leagues, teams and athletes. The digital collectible token called ERC721 has been behind the innovation.
With many professional sports fans growing of age, the crypto collectibles is the best opportunity to reach out and engage the young and more diverse generation of fans. On the other hand, leagues and athletes are always looking for new ways to deeply and engage, create and develop new business opportunities. This also allows them to expand the number of fans and followers. Using crypto collectibles will therefore give them a change to establish and strengthen relationships with fans.
The investment was led by Jacob Mullins, a partner at Shasta Ventures. He will be joining the Board of Directors of Unblockable.