Sacramento Kings partner with ConsenSys

During Sacramento Kings basketball games, fans will be able to participate in a live auction of clothing and gear worn by the stars on the court.

“We are excited to announce another blockchain first as we strive to continue to enhance the fan experience,” said Ryan Montoya, Sacramento Kings chief technology officer.

“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.”

The US sports memorabilia market is worth a staggering $5.4 billion annually, yet there are no industry standards for authenticating items and preventing the sale of counterfeit gear.

The winner will receive the tagged and verified item alongside a token which represents proof of ownership and serves as a certificate of authenticity.

Both the Kings and Mavericks have begun accepting cryptocurrency as a form of payment, while the league partnered with Dapper Labs to create licensed collectibles supported by blockchain technology.

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