NBA's Sacramento Kings become first pro sports team to accept Bitcoin

20

The Sacramento Kings are now accepting Bitcoin. The leading cryptocurrency can be used to buy merchandise at the team's retail store right now, and support for online orders and ticket purchases will arrive on March 1st. The Kings say they're the first professional sports franchise to embrace the virtual currency — which has rocketed in value but still lacks widespread support from retailers and other businesses. "When I sold the NBA on keeping the team in Sacramento, my pitch included using the sports franchise as a social network to push the technology envelope," said Kings majority owner Vivek Ranadive in an interview with ESPN. "This is an example of that." Ranadive also found inspiration at home; his own children "would go to games and ask why we didn't accept Bitcoin," he said.

BitPay will be processing all Bitcoin transactions on behalf of the team; the company will accept the virtual funds and pay the Kings in a more familiar currency: cash. “With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets," Ranadive said in a press release. According to BitPay co-founder and CEO Tony Gallippi, the deal came together during last week's CES. "They had a lot of questions but once we answered them, they were ready to move quickly," he told TechCrunch. "They kicked it into fast mode and took less than a week to close the deal after they realized they could be the first sports team in the US to take Bitcoin."

Back to top ^
X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new Verge username and password

As part of the new Verge launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to Verge going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new Verge username and password

As part of the new Verge launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to Verge going forward.

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_5345_tracker