Chicago Cubs to explore Web3 opportunities with Valence

According to a Forbes report, the Chicago Cubs of Major League Baseball are working with newly launched Web3 platform Valence, funded by the team's executive chairman Tom Ricketts, to explorer blockchain and metaverse opportunities.

According to the Valence website "[Valence] foster(s) closer engagement between individuals, institutions and audiences through elegant Web3 experiences built around shared passions. Valence seamlessly connects creators and brands to a global audience using digital assets and blockchain infrastructure with a proven authentication layer." Although the exact nature of their partnership is unknown, the Cubs will work with Valence in developing a roadmap to lay out their plan for venturing into the Web3 space.

“It's a way for the team to forge community in new ways,” said Valence co-founder Chris Vroom. “One big problem is how to connect one-on-one with customers at scale.”

Some potential outcomes for this partnership could include “a discount, a seat upgrade, a meeting with a player, access to in-game recordings with miked players, (augmented-reality) activations, collect Cubs baseballs in exchange for Cubs coins,” according to Vroom, depending on approval from MLB. “Today, you can imagine a fan who's been to three games can burn a new incentive token that’s dropped into their (digital) wallet, or participate in new kinds of promotions based on what they've done.”

“The Valence engine will provide one-click NFT minting capabilities, SMS-based wallets to store assets, and the ability to display those assets in virtual galleries alongside the rest of the community,” says Adam Helfgott, CEO and other co-founder of Valence. “We offer fans a meaningful alternative beyond JPEGs and flying avatars, facilitating deeper consumer engagement with the things they love, and the infrastructure for brands to execute long-term Web3 strategies.”