Cryptocurrency fever is at a record high; investors use tips and tricks to be successful cryptocurrency traders. Another well-known professional sports team that accepts crypto is the Sacramento Kings. Various professional sports teams have started accepting crypto payments, including MLB’s Oakland Athletics, NBA’s Kings and Dallas Mavericks. The Barracuda Championship was the first PGA TOUR event to accept cryptocurrency payments, joining the ranks of other professional sports teams in the NBA, NHL, and MLB accepting digital currencies. The Oakland Athletics, the renowned baseball franchise, has been taking digital currency for ticket sales since its launch, having reached one milestone. Among other professional sports organisations, MLBs Oakland Athletics became the first major league baseball team to accept cryptocurrencies as a form of payment when they sold six-person suites of season tickets at the cost of one Bitcoin each back in March.
The Sacramento Kings are the first pro sports franchise in the NBA that allows their fans to use Bitcoin as a payment option. Dogecoin is a digital currency, and the Dallas Mavericks use it for ticket and merchandise payments. Binance Coin is also tradeable or redeemable in other forms of cryptocurrency, such as Ethereum or Bitcoin. The San Jose Sharks accept cryptocurrencies as a form of payment for season tickets, suite rentals, and partnerships, becoming the first NHL team to do so. In addition, the team plans to expand cryptocurrencies like bitcoin for single game tickets, concessions and merchandise.
There are various Spanish teams, although RCD Espanyol is the first to accept cryptocurrency payments. To allow supporters to buy tickets in Bitcoin, Tigres, a Mexican football team, teamed up with Bitso in April. Additionally, Tigres has a stadium that routinely holds 40,000 people and is a seven-time winner of Mexico’s top football league. The framework for purchasing tickets is provided by third-party Boletomóvil, a significant bitcoin exchange in Latin America.
The NFL already has huge cryptocurrency fans passionately betting on teams. Tim Mangnall, managing director at Capital Sports Media & Capital Block, a sports consultancy in the UK, explained that fewer teams are well-versed in the cryptocurrency markets, which means that they do not usually have a complete understanding of the risks or rewards of investing in cryptocurrencies. The recent volatility of the crypto market has led some teams and leagues to exercise greater caution regarding partnerships with cryptocurrencies and non-fungible tokens (NFTs). NWSL is the latest sports property to venture into cryptocurrency, signing a multi-year agreement described as one of the league’s most meaningful partnerships ever with cryptocurrency platform Voyager Digital. The Tennessee Titans partnered with Bitcoin Magazine and UTXO Management, a digital assets fund in Nashville, to adopt cryptocurrency.