An exec for the Dallas Mavericks basketball team says uptake on Bitcoin payments is slow – but he expects more fans to take interest in the future.
The team was the second NBA franchise to accept Bitcoin as a method of payment for tickets and merchandise.
Mavericks Chief Technology Officer David Herr said it is an option for those who want to use it while also allowing the business to prepare for more wide-scale adoption.
He told sports business news website Front Office Sports: “[Users] are pretty low, I don’t want to say infancy, but it’s a select group of people using it.
“We did some research, heard some discussions and conversations, and one comment was it’s still complicated to 99% of the population. Until it’s more widely accepted, it’s a cottage industry or a neat way to pay.
“I don’t have a crystal ball, we’re just building a platform to be flexible and responsive.”
The team works with BitPay, who also made it possible for AT&T customers to pay their phone bills with Bitcoin in May.
The Sacramento Kings was the first NBA team to accept Bitcoin as payment for tickets and sporting goods, adopting the payment method back in 2014 when Bitcoin was worth just $800.
Earlier this year, the Miami Dolphins also secured a partnership with Litecoin, with Charlie Lee’s project becoming the team’s “official cryptocurrency”.
In April, boxing legend Mike Tyson announced that he has signed a deal with the Fan Controlled Football League (FCFL). The deal will see him give away sporting memorabilia via Wax’s blockchain.
All of these steps by major sporting figures and teams could help drive mainstream adoption of cryptocurrencies in the future.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.