American professional basketball team Dallas Mavericks has become the second NBA team after Sacramento Kings to accept cryptocurrency Bitcoin (BTC) as an additional method of payment for match tickets and merchandise.
The Mavs, as they are popularly known as, has teamed up with Bitcoin payment processor BitPay to process all the payments using Bitcoin. The global fans of the Mavs, known as Mavs Fan For Life (MFFLs), will now have the option to purchase tickets and merchandise online using Bitcoin cryptocurrency from anywhere.
The Mavs said “MFFLs can make ticket purchases by calling 214.658.6287 and merchandise purchases at dallasmavs.shop.”
The Sacramento Kings, one of the most tech-savvy ownership groups in the NBA, had in 2014 also partnered BitPay to become the first sports team in the world to accept Bitcoin payments for match tickets and promotional products. It is also home to a 100% solar-powered sports arena.
In July 2018, Sacramento Kings is reported to have become probably the first professional sports team to foray into cryptocurrency mining and use the funds for charity program “MiningForGood”. They installed crypto-mining machines inside their arena.
Paying in cryptocurrencies such as Bitcoin is becoming a preferred method among the new generation as they benefit from easy, fast and secure transactions at lower transaction fees. This will also help customers conveniently shop without having to enter any card information for online payments and avoid credit card fees.
BitPay is looking to take advantage of the expected strong growth in Bitcoin users from the current less than 10 million to more than 200 million by 2024. The global mobile payment revenue is also estimated to reach more than $1 trillion in 2019.
In July last year, BitPay had become the first blockchain payment processor and the first non-exchange to secure a BitLicense, a virtual currency license, from the New York Department of Financial Services (NYDFS). This allowed BitPay to facilitate payment in Bitcoin between merchants and consumers in the State of New York.