An alumnus of the Tehnopol Startup Incubator launches Estonia’s first digital sports cards
We are pleased to share exciting news for sports fans from one of the start-ups that grew with us! Cryplect grew out of the Tehnopol Startup Incubator programme and has worked with the Estonian Basketball Association and clubs from the Paf Basketball League to bring digital sports cards to the Estonian market for the first time, featuring players from the clubs in the Paf Basketball League.
The clubs in the Paf Basketball League that have joined the Cryplect platform are BC Kalev/Cramo, TalTech/OPTIBET, AVIS UTILITAS Rapla, KK Viimsi/Sportland, Pärnu Sadam, Rakvere Tarvas and Tartu Ülikool Maks & Moorits.
The technology company is giving fans the chance to collect their top highlights from Estonian basketball, and in the future also from basketball abroad, as digital sports cards. The cards are issued as non-fungible tokens, or NFTs, which are a form of uniquely individual digital asset.
The officially licensed basketball cards are available on the Cryplect website, with a choice of two packs, Rising Star and Baller. The Cryplect cards are released in a wave, or drop, of several packs, and 58 Rising Star and 63 Baller packs were released in the first drop, of which some 70% have already sold out.
Cryplect plans to make two drops a month. The timing of each new drop will be announced on the Discord communication platform and through social media. Packs in the first drops contained collectible cards in two different classes of Common and Rare. Video clips of basketball players will be added in future along with the rarity levels Unique, Hall of Fame, Legendary, and Ultimate.
Cryplect is also offering fans further excitement beyond just supporting the sport, with a set of challenges for fans. Fans can add particularly rare or special cards to their collection if they take part in the challenges.
Three challenges went live with the first drop, as fans were challenged to collect five cards of players born in 2000 or later; three cards of players with the same shirt number; or all the cards from one particular team. There are currently surprise packages on sale, and cards can be brought from other fans in the marketplace. The challenges and winners can be found on the Discord platform, where new sets of challenges will also appear.
The cards support the clubs
The income earned from the packs is split between the sports clubs and the business, with the clubs currently receiving 70% of the profit and Cryplect 30%. Cryplect did not start to produce NFTs only as trendy marketing, but because it believes in the value of doing so and is aiming to develop NFTs over a longer perspective.
The goal of the NFTs is that fans would support their clubs and their favourite players through the Cryplect platform.
It is planned in the near future to launch packs for the Paf Estonian-Latvian Basketball League and the VTB United League. Cryplect has been negotiating since the middle of summer with the larger clubs in the Euroleague so that it could also offer something for Euroleague fans.