Crypto-tech looks to modernize collectibles
Did you collect baseball cards when you were a kid? I sure did. Al Kaline of the Detroit Tigers was my favorite player.
I tried to pass my love of collecting baseball cards to my boys, but they were more interested in video games. Heavy sigh!
I am sad to say that I ruined most of my baseball cards. Apparently inserting them between the spokes of my bicycle reduced their longevity. But I did save my very best cards (including my beloved Al Kaline All-Star card).
Unfortunately, my mother threw them away when I went to college!
While my own collection is nothing but a memory, the collectible card industry is a completely different story. It's still alive and thriving.
And it's not just the cards that come with a big stick of bubble gum anymore. Collectibles have gone high-tech.
I mean REALLY high tech.
One of the most innovative cryptocurrency companies, Dapper Labs — which created the wildly successful blockchain game CryptoKitties — has teamed up with the NBA to create a high-tech version of collectible sports cards.
The NBA and the NBA players union have joined with Dapper Labs to created Top Shot, a new trading platform and crypto wallet. Top Shot allows NBA fans to collect and trade their favorite player moments.
Unlike with the physical sports cards of old, this blockchain-based tech allows fans to collect and trade some of the greatest moments in NBA history in video form.
Instead of trading players, you are trading video clips of things like a LeBron James slam dunk or a Stephen Curry three-point shot.
So, how does it work? Fans will own a token (limited in number) containing a video clip of one of the most commemorated moments in NBA history.
Once you take ownership of the video clip, Top Shot authenticates and safeguards your ownership of the video clip with a blockchain-based wallet.
Josh Goodstadt, Executive V.P. of Licensing for THINK450, the commercial arm of the NBPA, said:
"We use the latest in blockchain technology to create assets and experiences that are guaranteed limited edition and authentic, not to mention portable and permanent in a way nothing digital has ever been before.
"We believe blockchain technology creates a truly unique product that fans can collect, manage, and engage within a fun environment, and we are excited to partner with Dapper Labs to introduce these groundbreaking digital assets to the NBA community."
Now, let me be clear: I'm not recommending these Top Shot video clips as an investment. What I am trying to do is point out the unlimited applications for blockchain technology.
Blockchain doesn't just serve cryptocurrencies …
It doesn't just help in the cybersecurity sector or in streamlining payment processes for consumers and banks …
It also filters down all the way to consumer products as simple as sports cards.
I'm hoping this will light a fire under you to include a serious dose of blockchain-focused stocks in your portfolio.
What have been some of the fortune-making trends in the last three decades? I'm talking about things like the personal computer, the internet, mobile phones and social media.
Blockchain is the next "big thing," and I think you'll be able to do something that Al Kaline was never able to do: hit a ten-bagger.
Al Kaline hit 399 home runs, also called "four-baggers."
A ten-bagger is what Peter Lynch called an investment that paid up to 10x in value. That's a 1,000% return!
I am confident that the blockchain universe of stocks that I follow contains a fistful of ten-baggers. Click here to jump on board!