If there is any activity that brings people together from different parts of the world, it is sports. Soccer, tennis, basketball, baseball, etc. are sports that people love to watch and be a part of. People go to great lengths to support their favorite teams. Another thing that seems to bring people together is cryptocurrency, and we have seen how active the crypto fan-base is. Imagine being a sports lover and a crypto enthusiast at the same time. The Oakland Athletics wants to create this synergy.
Oakland Athletics And Bitcoin
If you have not seen the 2011 movie “Moneyball”; perhaps you may not know it was centered on the Oakland Athletics. The A’s are stationed in Oakland California and compete in MLB’s American League West division. While that is interesting to note, this most recent development of adopting Bitcoin payments is even more interesting.
The club intends to accept single Bitcoin payments for fans interested in booking the club’s six-seat suites. They intend to do this throughout the home season in 2021. This means for one suite that has 6 seats, it will cost 1 Bitcoin to book.
The fixed price of the suite is now $64,800; and will be available at Bitcoins market price. So if Bitcoin’s price is $58,000, the fans will enjoy a discount.
According to Dave Kaval, the club’s president, the move to adopt Bitcoin will test the success of crypto adoption. It also gives the fans something new and different to talk about. Kaval added that the adoption of crypto was based on the increased popularity of Bitcoin and other cryptos in California.
Apart from the increased popularity of crypto payments in the sporting business, the market space for NFTs (Non-Fungible Tokens) has expanded.
According to Cointelegraph, Micah Johnson, a former second baseman had tokenized art on NFTs and earned millions of dollars for doing so.
There is a convergence of art, sports, and cryptocurrency. It is amazing to see the emerging innovations and the adoption taking place on a global scale. The Oakland Athletics are not the only sports club to start accepting crypto. Other teams doing so include the Miami Dolphins, Dallas Mavericks, and others.
Crypto And Sports
One of the major ways to push cryptocurrency to the masses is through sports. Fans dictate the business pace of the sports club and can influence the club’s decision to accept crypto. It is important to note that most sports fans are young people that love the easy life, which is digital.
Many sports fans are also crypto enthusiasts, which makes it easier to facilitate digital transactions. Adopting crypto payments in sports brings transparency to the sports business, as well as increased profits and reduced costs. There are many advantages for sports clubs and stakeholders, as there are for crypto users and investors.
It will be interesting to measure the Athletics this year in terms of paid fans that are deploying Bitcoin. With Bitcoin continuing to crack new all-time highs, are “hodlers” willing to spend Bitcoin on a baseball game? We shall see..
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