SACRAMENTO KINGS USE BITCOINS AT GAMES
Sacramento Kings are pushing their franchise into the future with the use of cryptocurrency. Bitcoin, a virtual currency used to move digital money without the use of a wallet, first made its way onto the scene in 2009. The first successful Bitcoin transaction was between programmer Hal Finney and inventor Satoshi Nakamoto for 10 bitcoins. In the early days of bitcoin, Nakamoto was said to have over 2 million bitcoins mined. To this day, Bitcoin is now being used by various companies. Subway, Microsoft, Expedia.com, Overstock.com, and Dish are just a few major companies that have begun to use bitcoin. Even though Bitcoin is quickly spreading around the world, Kings are still looking to get ahead by fusing Bitcoin and sports entertainment.
Starting March 1, Kings fans will be able to purchase tickets, gear, and more from the team store without ever pulling out their wallet. Something fans will enjoy very much, easier access to their money without the hassle of carrying it.
One of the Kings’ owners, Vivek Ranadive, recently told ESPN.com about his reason behind his new creative idea with Bitcoin. Ranadive sees Bitcoin as a way to give fans an easier experience while bringing them a step closer to the future. Chamath Palihapitiya, Golden State Warriors owner, previously confirmed his belief in Bitcoin is the future. He owns 5 million in virtual currency and shows no sign of stopping. He believes sports and bitcoins will coexist.
NBA TEAMS USING BITCOIN AND CRYPTOCURRENCY AT GAMES
While some see Bitcoin as a huge risk, the Kings organization doesn’t see it that way. Bitcoin is easily open to attack from unknown hackers. Although Bitcoin is still fairly new, Bitcoin is still in the early stages of development with huge risks. Bitcoin is not anonymous which means you really have to trust the person you are dealing with. Your privacy ultimately depends on you and you alone. The Kings hope to see an increase in sales as Bitcoin becomes more popular. Ranadive announced the Kings have been working with Google to make use of their new Google Glass. Google Glass is high-tech glasses with a small screen on the side of the frame. Ranadive hopes to use the glasses to enrich fans experience.
Even though nobody really knows Bitcoin comes from, many think Bitcoins can overtake physical money in a few years time. Kings are looking to stay ahead of the curve. With many companies now investing in Bitcoin, it’s hard to see Bitcoin slowing down anytime soon. Only time can really tell.