In the first move of its kind in the professional sports world, the Sacremento Kings (an NBA team (National Basketball Association), will be accepting bitcoins in exchange for tickets and Kings merchandise, according to a number of reports.
As mentioned, they’re the first sports team of any to do this, so it’s a milestone for the digital currency, without a doubt.
The Kings have partnered up with digital currency payment processor BitPay to make this happen, and customers can visit the Kings’ retail store in Sacramento, California right now to buy their wares. For those not in the area, online sales of merchandise and ticketing are slated to begin come March 1st.
“We are maniacally focused on creating the most seamless experience for our fans in all facets,” said team owner Vivek Ranadivé. “With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets.”
Professional sports was seemingly the last industry in the minds of bitcoin enthusiasts to help bring bitcoin into the hands of more people, but with this news, it just may do that.
The Sacramento Kings may not be the last of major sports teams to accept bitcoin, either. BitPay CEO Tony Gallippi says his company is working with “several other major brands” — one of which will be announced by the end of this month.
“We make it easy for businesses like the Sacramento Kings to accept bitcoin as a form of payment both in-person and online,” Gallippi said. “As the first professional sports team to accept bitcoin, the Sacramento Kings continue to show that they are at the intersection of sports and technology.”
(via TechCrunch via Wall Street Journal)
Logo courtesy: Sacramento Kings