Panini America is a subsidiary of the Panini Group, a global leader in the collectibles industry. The company produces sports cards and other collectibles for various sports leagues, including the NFL, NBA, and FIFA World Cup. With the rise of NFTs, the company saw an opportunity to enter a new market and leverage its existing relationships with sports leagues and athletes to offer unique digital collectibles.
In 2019, Panini America, a sports and entertainment collectibles company, entered the NFT (Non-Fungible Token) market, launching a digital platform for trading sports collectibles. The company aimed to tap into the growing popularity of blockchain-based collectibles and create a new revenue stream for the company.
The NFT market is a dynamic and emerging space characterized by limited regulation and few established players. In this case study, we will examine the obstacles that Panini encountered upon venturing into the NFT sphere.
Our team successfully deployed a robust and user-friendly platform that caters to both novice and experienced users through its simple and intuitive interface. Panini's main objective was to offer their clients authenticated digital collectibles that necessitated a secure and transparent system that could guarantee the uniqueness and authenticity of each NFT. Consequently, we decided to employ Hyperledger Sawtooth, an open-source blockchain platform, to construct and operate their private NFT platform. Hyperledger Sawtooth is an optimal platform for developing private blockchain networks, as it enables users to create, deploy, and manage their blockchain networks.
Panini America's NFT marketplace was a game-changer, offering a myriad of exciting benefits: