Sacramento Kings (NBA), first professional team to accept virtual currency Bitcoin

News Tank Football - Paris - Initiative #13808 - Published on 21/01/14 at 10:44

NBA (National Basketball Association) club Sacramento Kings have become the first professional sports team to accept virtual currency "Bitcoin" to purchase tickets and team merchandise on their website, the club announced on the 16/01/2014.

This decentralised payment system facilitates transactions via encryption protocols. Bitcoin allows users to be completely anonymous and prevent their data from being collected by a third party. The currency is fully decentralised, and does not suffer any tax or regulation by governments and can be used worldwide.

This initiative is part of the plan of Vivek Ranadivé, owner of Sacramento Kings, to establish a "NBA 3.0" based on long-term investments in new technologies: "The major tenet of the NBA 3.0 philosophy is about utilising technology for the betterment of the fan experience" said Vivek Ranadivé. Fans have been allowed to use this virtual currency on the official website of the Sacramento Kings since the 03/01/2014.

  • The Bitcoin purchases will be processed through BitPay, an online platform online equivalent to "Paypal".
  • "As the first…

Welcome! This article is only available to subscribers.

3 reasons to subscribe

Timely and relevant insights

In 10 minutes, access a concise overview of key developments across the industry, curated by an experienced editorial team.

100% information, 0% advertising

An independent and impartial media outlet, fully dedicated to high-quality information. No advertising, no sponsored content, no consulting or training activities.

A tailored information service

Frequency of alerts can be customised to your needs: daily, weekly or in real time. Content is accessible on smartphones (app), tablets and desktop computers.

Subscribe

Already a subscriber ?

Login with login details


I have lost my login details

Login with your email address
We will send you a pincode