The Sacramento Kings basketball team has launched a blockchain platform for auctioning sports equipment, in partnership with blockchain software company, ConsenSys. The platform is powered by the Ethereum blockchain.

Using the Treum supply chain service, the platform verifies every item individually. The new platform also makes sure that there is an immutable record of the item’s history. The records include everything from manufacturing to sales and even loans.

The platform is already live and interested supporters can immediately start to take part. All proceeds gotten from the first auction will be used to fund relief endeavours aimed at Hurricane Dorian. In the future, most of the proceeds will be used to fund the Sacramento Kings’ foundation.

Fans of the basketball team will also have the opportunity to join a live auction of sports gear worn by the players, during a live game.

In an official Consensys press release, Sacramento Kings Chief Technology Officer Ryan Montoya has said that the team went the blockchain way to enhance the fan experience.

“We have integrated blockchain technology into our business across multiple platforms. Including our reward program, and now our fans will have the opportunity to securely purchase authentic game-worn merchandise in real-time using an innovative blockchain-based solution.”

This is not the first use of blockchain in sports. Last year, the Manchester City football club partnered with blockchain gaming platform Superbloke, to create a blockchain football game.

Image Credits: Pixabay

The post Sacramento Kings Basketball Team Partners With Consensys For Ethereum-Based Auction Platform appeared first on Latest Crypto News.



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This article was first published on: Latest Crypto News

The Sacramento Kings basketball team has launched a blockchain platform for auctioning sports equipment, in partnership with blockchain software company, ConsenSys. The platform is powered by the Ethereum blockchain.

Using the Treum supply chain service, the platform verifies every item individually. The new platform also makes sure that there is an immutable record of the item’s history. The records include everything from manufacturing to sales and even loans.

The platform is already live and interested supporters can immediately start to take part. All proceeds gotten from the first auction will be used to fund relief endeavours aimed at Hurricane Dorian. In the future, most of the proceeds will be used to fund the Sacramento Kings’ foundation.

Fans of the basketball team will also have the opportunity to join a live auction of sports gear worn by the players, during a live game.

In an official Consensys press release, Sacramento Kings Chief Technology Officer Ryan Montoya has said that the team went the blockchain way to enhance the fan experience.

“We have integrated blockchain technology into our business across multiple platforms. Including our reward program, and now our fans will have the opportunity to securely purchase authentic game-worn merchandise in real-time using an innovative blockchain-based solution.”

This is not the first use of blockchain in sports. Last year, the Manchester City football club partnered with blockchain gaming platform Superbloke, to create a blockchain football game.

Image Credits: Pixabay

The post Sacramento Kings Basketball Team Partners With Consensys For Ethereum-Based Auction Platform appeared first on Latest Crypto News.



This content is synced from the rightful owners. Copyright on text and images belong to the original source.

--
This article was first published on: Latest Crypto News