NBA basketball team the Sacramento Kings have announced they will become the first major professional sports franchise to accept popular online currency Bitcoin.
The Kings have begun to accept bitcoins in their team store and will offer fans the ability to pay online for team merchandise and tickets by March 1. The bitcoin purchases will be processed through BitPay – the world’s largest payment processor for virtual currencies.
The Kings’ majority team owner Vivek Ranadivé said the initiative marks the latest development in his ‘NBA 3.0’ strategy, which focuses on investments in technology, globalisation and deep community partnerships.
“We are maniacally focused on creating the most seamless experience for our fans in all facets,” Ranadivé said. “With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets. A major tenet of the NBA 3.0 philosophy is about utilising technology for the betterment of the fan experience, and this is yet another step in that process.”