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Ethereum’s Next Big Game Will Offer Major League Baseball Collectibles

Ethereum’s next big game will offer major league baseball collectibles

Ethereum’s Next Big Game Will Offer Major League Baseball Collectibles


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Major League Baseball (MLB) has taken a step into the blockchain and crypto world by launching its own Ethereum-based game, “MLB Crypto,” in partnership with blockchain dApp developer Lucid Sight, Yahoo Finance has reported.

The official website of MLB Crypto is now live, however, the game is yet to launch. Users will be able to use their ether to buy digital MLB collectibles, play games to level up, or earn various rewards. Similar to CryptoKitties, these collectibles could also be sold via the Ethereum blockchain to other crypto users. In fact, MLB was in talks with Lucid Sight when CryptoKitties was launched in November 2017. Kenny Gersh, Executive Vice President of Gaming and New Business Ventures at MLB, said that the game proved that MLB Crypto would be successful in “delivering baseball” to users with the help of blockchain technology.

Not a ‘Get-Rich-Quick Scheme’

Gersh said that they are not entering into the blockchain and crypto world due to its popularity. Since MLB’s audience attendance has increasingly dropped this season, they simply want to create a way to engage and bring back baseball enthusiasts.

In order to achieve that, MLB Crypto will also allow users to collect products that celebrate and commemorate MLB events. “For me, say the Red Sox win the division in a couple months, I want to buy something that symbolizes that. These will be event-based things — those moments in sports that happen that you want to remember and cherish, and have a sense that you were there, even if only digitally,” said Gersh.

Gersh also added that some people may accuse them of using a “get-rich-quick scheme,” but they need to understand that the MLB is simply transferring their current collectibles to the digital world.

However, this game might seem confusing to people who have never used the Ethereum blockchain. Octavio Herrera, co-founder of Lucid Sight, explained that they will develop a simple mobile app to combat this problem. However, it won’t be launched until after MLB Crypto goes live — so early users will need to open accounts on a crypto exchange, and buy and transfer ether to Ethereum dApp browser MetaMask.

The first 100 users that sign up to MLB Crypto will earn one MLB collectible free of cost. The referral program will also reward early users with random collectibles on a first-come-first-served basis.

Featured Image from Shutterstock

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Published at Sun, 15 Jul 2018 18:30:25 +0000

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The first meeting, slated for January 23, 2018, is the Technology Advisory Committee (TAC) meeting. The topics outlined for discussion include “explor[ing] timely topics and issues involving financial technology in CFTC regulated markets, potentially including blockchain/DLT, data standardization and analytics, algorithmic trading, virtual currencies, cybersecurity, and RegTech.” While the committee meeting will be open to the public and held at the CFTC headquarters in Washington, D.C., a webcast of the meeting will also be available.

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CFTC Commissioner Rostin Behnam stated:

With the rapid development of financial technology products – including cryptocurrencies – and the corresponding demand for new and novel price discovery and risk management tools, the CFTC is poised to utilize its authority and expertise to ensure that the markets we oversee innovate responsibly within an appropriate oversight framework.

Behnam added, “I believe this is a perfect time for the MRAC to discuss the application of the CFTC’s self-certification process in today’s quickly evolving, technology driven marketplace.”

It remains to be seen if other regulators view these meetings as an attempt by the CFTC to expand its own authority through amending the self-certification process or if they are happy to follow for the lead role the CFTC is attempting to take in guiding cryptocurrencies toward increased oversight. Regardless, it seems that the CFTC has heard the concerns raised from the FIA, the SEC and NASAA and is planning to act swiftly on them.  

The post CFTC to Discuss Digital Currency Futures Certification Process appeared first on Bitcoin Magazine.

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