Stakeholder EngagementAnnouncedSacramento Kings NBA Team Becomes First Major Professional Sports Franchise To Adopt Bitcoin Payments
Milestone Date: January 16, 2014
The Sacramento Kings announced they will be not only the first NBA team to accept Bitcoin payments but also the first major professional sports franchise to allow its fans to engage with the cryptocurrency. The team has partnered with BitPay, the world’s largest payment processor for virtual currencies, to process Bitcoin payments.
Vivek Ranadivé, the team’s majority owner, has implemented “NBA 3.0” — his business philosophy that centers around investing in technology, embracing globalization, and fostering deep community partnerships. The collaboration with BitPay serves as a tangible manifestation of the NBA 3.0 philosophy in Sacramento.
The Kings have taken the initiative to accept Bitcoin in the Kings Team Store. The process is simple and streamlined, allowing fans to conveniently purchase team merchandise and tickets online using Bitcoin starting on March 1, 2014. Using BitPay's technology, Kings supporters will enjoy faster and more secure transactions, providing them with an enhanced experience when buying Kings-related products and accessing exciting team-related opportunities.
“We make it easy for businesses like the Sacramento Kings to accept Bitcoin as a form of payment both in-person and online,” said Tony Gallippi, co-founder and CEO of BitPay. “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.”
By Elizabeth Morrison
Published:January 16, 2014