NBA team Detroit Pistons partners with RareCircles
In a significant move towards expanding its fan base using web3 technology, the Detroit Pistons have recently forged a partnership with RareCircles, a platform that deals in non-fungible tokens (NFTs). The collaboration has resulted in the launch of ‘Pistons RareAccess,’ a new gated fan experience that leverages NFTs.
Detroit Pistons NFTs
RareCircles’ partnership with the Detroit Pistons will feature a three-level approach, comprising Legend Editions, All-Star Editions, and Starter Editions, each offering varying levels of access. The move aligns with the trend of NBA clubs leveraging NFTs to gate exclusive access and events while providing a recurring utility in the form of digital collectibles.
RareCircles has enabled the Detroit Pistons to adopt a crypto-native approach by facilitating the direct use of a crypto hot wallet and Ethereum for accessing the NFTs. However, users who are less familiar with cryptocurrencies can also use a credit card for transactions, which has become a standard practice for brands and teams that deal with digital collectibles. This allows both crypto-first consumers and those who are not as crypto-savvy to engage with ease.
According to a press release, Pistons Chief Revenue Officer Dan Lefton expressed the team’s commitment to exploring novel avenues of fan engagement:
“We are constantly seeking fresh opportunities to offer our fans an unprecedented Pistons experience… Pistons RareAccess will enable fans to delve deeper into all aspects of NBA basketball that make it a thrilling and distinct experience. We are thrilled to keep pushing boundaries alongside our partners at RareCircles to deliver the most captivating and exclusive next-gen platforms to Pistons fans.”
NFTs on the basketball court
Established in 2021 by a team of technology experts and businesspeople, RareCircles aims to transform how NFTs are utilized by creators, collectors, and brands. They provide a range of innovative NFT services and products for creators and brands and have recently teamed up with the L.A. Clippers to introduce a comparable NFT-driven platform.
And it’s not just the Pistons and the Clippers, as numerous NBA teams are embracing NFTs to engage their fan base in innovative ways. The Dallas Mavericks pioneered cryptocurrency acceptance as payment for game tickets and merchandise, while the Sacramento Kings introduced a blockchain-based app for in-arena betting back in 2019.
Players are cashing in on the web3 trend as well, with good examples being the Scottie Pippen NFT shoe collection and the Steph Curry metaverse.