Blockchain platform UREEQA has partnered with Main League Baseball (MLB) participant Trey Mancini of the Baltimore Orioles to launch the primary non-fungible tokens (NFTs) on the platform. The public sale will embrace animated baseball playing cards as an NFT and signed memorabilia, and all proceeds will go in direction of the Trey Mancini Basis to help the early detection of colon most cancers.
Auctions of athletes’ NFTs are sometimes financially inaccessible to most followers. Rob Gronkowski’s one-of-a-kind NFT offered for $430,000, and the whole sale of the 5 tokenized playing cards raised a complete of $1.8 million.
UREEQA’s public sale provides an answer to the extremely inflated costs of NFT auctions by launching a line of fixed-price NFTs.
A single NFT will likely be minted as a one-of-a-kind and be out there for bidding for 48 hours. The winner of the public sale may also obtain a signed bat utilized by Mancini, signed cleats and batting gloves, and a batting lesson with Mancini.
One other 500 NFTs will likely be out there at a set worth of $195, and a randomly chosen batch of purchasers will obtain further memorabilia. Purchasers of those NFTs may also be eligible to obtain sport tickets and entry occasions with the group sooner or later. Purchases may be made by crypto or bank card.
UREEQA’s platform makes use of blockchain to guard, validate, handle, and monetize inventive work. It achieves this by its “Accountable Minting” protocol.
It has a patent-pending expertise that verifies possession of an merchandise by creators and generates a Package deal of Proof for the supply of the inventive work represented as a Responsibly Minted NFT. Creators may have their work validated by UREEQA’s community of human validators who collect proof. These instruments goal to guard mental property.
Customers of the platform can add their creations without spending a dime. For a small charge, customers can add a creation to UREEQA’s Premium Assortment, which places it on the Ethereum blockchain and creates a public and everlasting timestamp of the declare to the work. Utilizing the community of validators to authenticate work requires a further charge, and proof of the method is printed on-line to reinforce the credibility of the consumer’s work. As well as, if unauthorized use of the work is encountered, UREEQA sends a requirement to the writer of the content material outlining choices to appropriate the scenario, corresponding to paying a charge to the creator.
Organizations and firms can use the platform versus solely freelance content material creators. The Ministry of Schooling in Cyprus, for instance, partnered with UREEQA to guard the musical creations of scholars.
“I didn’t wish to take any dangers on this wild new world of NFTs, which is why my debut drop will likely be launched utilizing Accountable Minting from UREEQA,” mentioned Mancini. “All of the proceeds from this drop will go to the Trey Mancini Basis to boost consciousness for colon most cancers, and consumers and bidders may have peace of thoughts understanding that they’re getting the true deal.”
In the meantime, NFT developer Candy Digital signed a partnership with MLB. Collectible playing cards firm Topps additionally has a deal to license digital collectibles for the league. As for content material creation safety, telecom firm KT is exploring blockchain expertise to guard video content material mental property.