No professional sport wants to be left out of the
world of non-fungible tokens (NFTs) -- including the Professional Bull Riders (PBR), which today announced their first Bucking Bull NFT, which awards a fan “ceremonial ownership” of one of
stock contractor Chad Berger’s real-life bucking bulls.
This news comes as part of the PBR’s broader
licensing agreement with crypto-tech company, SmartMedia Technology (SMT). In 2021, both organizations created a fan engagement and loyalty program using PBR NFT trading card packs, which launched at
the 2021 PBR World Finals in Las Vegas.
Card packs were originally purchased using digital fan tokens called PBR Coins that
fans collected at no cost during live or televised PBR events, as a free reward for engaging with PBR on social media, or a free drop with the purchase of particular officially licensed
merchandise.
By earning PBR Coins that were redeemable for one of the “first edition” 100 PBR Inaugural
Card Packs, over 10,000 fans simultaneously competed in a sweepstakes to win honorary ownership of the Bucking Bull NFT.
Today, Berger’s bull, Delbert
Sr., was awarded to fan Paula Gregory, who has become the sole owner of this 1-to-1 PBR NFT.
“Ceremonial ownership” means that although Berger continues to take care of his bull, but every time Delbert Sr. competes or is mentioned in any PBR communications,
Gregory’s name will be mentioned as well. Gregory also has honorary status as an official PBR stock contractor, including access to six events per year, as long as the bull is
competing.
Today also marks the official launch of the PBR Stockyard, a branded NFT marketplace where fans can trade their PBR NFTs and Trading
Cards.
Like the NBA’s incredibly successful Top Shot NFTs, fans of the PBR can now purchase Ride Packs, which are rare video NFTs that capture a
notable moment in bull-riding history.
According to Josh Baker, chief revenue officer of PBR, the licensing
agreement with SMT is helping open up new revenue streams for PBR as well as driving deeper engagement for existing fans while generating greater awareness for new ones.
CEO of SMT Tyler Moebius believes that fans of professional sports are “migrating from a one-dimensional
way of interacting” with teams and players to now seeking “a more digital, engaging experience.”