The Sacramento Kings will be the first professional sports franchise to accept Bitcoin, the online currency.
The team will use “Bitpay” to process the payments and “will offer fans the ability to pay online for team merchandise and tickets by March 1.” The Kings have already started to accept Bitcoins in the team’s merchandise stores.
Kings owner Vivek Ranadivé, who was a high school basketball coach featured in a famous New Yorker article about Davids slaying Goliaths on the basketball court, is trying to implement an “NBA 3.0” philosophy in Sacramento that the team says is focused on “investments in technology, globalization and deep community partnerships.”
“We are maniacally focused on creating the most seamless experience for our fans in all facets,” Ranadivé said in a statement. “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 utilizing technology for the betterment of the fan experience, and this is yet another step in that process.”