With the release of the first series of baseball card NFTs, Topps is expanding its presence in the digital collectibles industry, as the popularity of NFTs rises by the day. The 2021 Topps Series 1 Baseball NFT will debut on the World Asset Exchange on April 20th as a result of their partnership with Major League Baseball.
NFT take over
The success of the NBA’s Top Shot non-fungible tokens, created by Dapper Labs, inspired Topps. It’s understandable that Topps will want to get into this lucrative business. NBA Top Shots has made over $500 million in profit. Dapper Labs was valued at $2.6 billion after receiving $305 million in funding as a result of this performance.
Topps created these baseball NFTs to take advantage of two growing markets at the same time. The NBA will make millions of dollars in transactions in 2021 thanks to NFTs. The second market Topps needs to tap into is the booming baseball card industry, with the price of these small mementos only rising during the pandemic. As a result, Topp’s digital trips down memory lane in the form of baseball cards would undoubtedly be a hit.
Fans of NFTs and baseball should expect to see 50,000 standard packs, each containing six cards. They will also be producing 24,000 premium packs, each containing 45 cards, in the first round of their launch. Rarities range from Common to Legendary, with Legendary Limited-Edition 1-of-1 Platinum Anniversary cards available for the most devoted collectors. Topps is also giving away a free special Topps MLB Opening Day NFT Pack to the first 10,000 users who sign up for email alerts for new releases.
Topps baseball cards won’t be exact replicas of Top Shot due to the lack of recordings. They’ve left their mark on these NFT cards by using animated backgrounds or holographic effects on rare cards to give the digital format a nostalgic feel.
This isn’t the first time MLB has experimented with cryptocurrency. The MLB Champions have previously played with Ethereum-based blockchain bobbleheads. As a long-standing brand, Topps baseball cards can build a degree of name recognition and respectability in the world of collectibles for all parties involved.