Cryptocurrency adoption has been on the horizon for the Mavs since early last year, when team owner and billionaire tech investor Mark Cuban hinted that fans would soon be able to use Bitcoin to buy tickets to the team’s games.
The Dallas Mavericks have become the second NBA team to accept Bitcoin as a means of payment for match tickets and merchandise.
A tweet from cryptocurrency payment processor BitPay confirmed the news on Aug. 13.
Mavs’ billionaire owner is a crypto enthusiast
A year and a half later, Cuban’s plans have materialized and the Mavs join their NBA rivals, The Sacramento Kings, in rolling out cryptocurrency access for their fans.
The Sacramento Kings became the first NBA team to accept Bitcoin for promotional products as well as for tickets as early as 2014.
According to an excerpt from a Dallas Mavericks press release shared by industry sources on social media, the Mavs – like The Sacramento Kings – be using BitPay’s services to process their fans’ Bitcoin payments.
Cuban’s prior involvement in the crypto space includes investments in both a digital currency hedge fund and an ICO, as well as the launch of the Ethereum-based Mercury Protocol back in August 2017.
The investor has this summer voiced his opinion that Facebook’s Libra cryptocurrency is a big mistake and could even be dangerous. This month, he also said he believes Bitcoin is fundamentally similar to gold from an investor’s perspective.
Driving mass cryptocurrency adoption
Sports are becoming an increasingly fertile ground for bringing blockchain and cryptocurrency to a vast audience.
Just yesterday, Cointelegraph reported that the iconic American boxer Mike Tyson is leading a new blockchain-powered cross-entertainment venture and fan token ecosystem that aims to catapult aspiring young fighters to success.
Blockchain platform Socios.com has also sealed a range of partnerships with leading international soccer teams – including French club Paris Saint-Germain, Italy’s Juventus and the United Kingdom’s West Ham United – for a series of fan token offerings.