The Panini Group was founded in 1961 and is one of the premier Sports collectibles brand the world over. The company is dedicated to innovation and collectibles with a sharp focus on retaining and growing top quality licenses with the premier sporting brands in the world. This currently includes NFL, NBA, FIFA, UFC, NASCAR, and more.
Panini Blockchain & The Platform
Panini America made history in the digital collecting space in January of 2020 by becoming the first company to introduce NFT blockchain trading cards, launched on the Panini America hosted Hyperledger Fabric Permissioned Blockchain. This was a strategic decision by the Panini America business and provides many pros over other Blockchain platforms including an extra layer of KYC and security for users to protect the assets they’ve acquired. With more than 120,000 contributing organizations and more than 15,000 engineer contributors working together, Hyperledger Fabric offers a unique approach to Blockchain that enables performance at scale while also preserving the data privacy Panini America demanded. (For more details on the technology see here: https://ibm.com/downloads/cas/0XMOQJNP)
Launched with great fanfare, the initial run of NFTs were sold directly from Panini America to collectors, and came with a Physical Counterpart to every card. IP and ownership were critical success factors for Panini America. Each individually designed NFT card gives a collector full ownership of the actual card, as opposed to a “token” associated with an asset that the collector doesn’t truly own. One of the earliest success stories was the 2019 Zion Williamson Rookie National Treasures Logoman [1/1] (physical and NFT pairing) which sold for $60,816.30. Both parts have since resold on the secondary market for over $200,000.
Use of Redemption Cards to Grow Users
For the everyday collector, and to increase the number of users on the platform, Panini America also included a run of redemption cards in a number of the higher end physical collections. Once redeemed on the platform these could be stored in the users Wallet, put on display in the Public Gallery or put up for 24 hour auctions for other users to bid and win. Typical sale prices of these cards, depending on scarcity and player, can range from $25 up to $10,000+ on the current market demands.
In addition to the Public Auction features, the platform offers users the ability to make and receive offers on cards in the Public Gallery as well, which includes the ability to “accept” and “reject” offers received. All transactions are currently run through PayPal which means that sales are immediately credited as USD into the seller's PayPal account, providing USD liquidity like no other NFT platform.
The NFT Boom and Pack Launch
The subsequent NFT boom of late 2020 and early 2021 gave rise to a whole new set of NFT consumers enjoying a variety of sport based NFT projects, with Dapper Labs NBA Top Shot on Flow and the Topps MLB on Wax offering the most prominent competition. Always looking to make the transition to pack products Panini America made the long-awaited announcement just last week. And, on Wednesday 16th June, Panini America will make history once again with its first pack-based NFT release: 2020-21 Prizm Basketball NFT Blockchain.
All cards in the set will be housed in the longstanding Panini NFT Blockchain platform that began in January 2020. Company officials have planned a two-week “soft launch” rollout for the product that begins Wednesday, June 16 11am EST, with three-card Red Mosaic Prizm Preview packs that retail for $10 each. One week later, on June 23, a limited quantity of three-card Green Ice Prizm Preview packs will be available for $20 apiece. Both the Red Mosaic and Green Ice packs will open for “pre-sale” on Wednesday of their respective release week, with NFT Blockchain packs being delivered to customers’ Panini NFT Blockchain accounts on Friday June 18th.
All preview cards featured in the two-week, soft-launch window will be pre-minted and limited to a finite quantity before launch, although these preview cards won’t be numbered like the cards in the rest of the collection. Once they’re gone, the pre-sell window will close. At the end of the two-week soft launch, Panini America will begin unveiling the entire 2020-21 Prizm Basketball NFT Blockchain product offering with a variety of weekly pack types.
The tentative schedule is:
June 28: Base Prizm Pack
July 5: Silver Parallel Pack
July 5: Base Prizm Pack
July 7: Donruss Net Marvels Insert Pack
July 7: Base Prizm Pack
July 9: Silver Parallel Pack
July 9: Base Prizm Pack
July 12: NBA Hoops High Voltage Insert Pack
July 12: Base Prizm Pack
July 16: Blue Circles Parallel Pack
July 16: Base Prizm Pack
July 19: Prizm Flashback Insert Pack
July 19: Base Prizm Pack
July 23: Gold & Gold Vinyl Insert Pack
July 23: Base Prizm Pack
July 26: Noir Sneaker Spotlight Insert Pack
July 26: Base Prizm Pack
The pack-offering format allows Panini America to expand its NFT portfolio while offering collectors an opportunity to enter the marketplace in a more affordable manner. It’s important to note that although Base Prizm and Silver Prizm parallel packs are being offered on multiple days, the entire 2020-21 Prizm Basketball NFT Blockchain product is being pre-minted to set quantities from the initial offering, and the full run of any individual card will be distributed in lots across the release schedule.
An Exciting Time to Start Collecting
With the first set of pack products in the pipeline with a clear roadmap of collections, it is a really exciting time to start collecting NFTs with Panini America. No doubt we are a matter of months away from the Panini America exclusive license for the NFL making its debut in the pack product space as well.
A great time to follow the next move Panini America will make… #WhoDoYouCollect
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