June 28, 2018

The NBA’s Sacramento King Will Begin Mining Ethereum

The Sacramento Kings recently announced a pilot program to mine ETH for charity is underway. Any Ethereum that is produced will be put at the disposal of Build Black – a local charity.

Why are they doing this?

The NBA team’s owner is Vivek Ranadive said, “What can we do with cryptocurrency to give back to the community? It was obvious to us: Let’s start mining cryptocurrency. Let’s mine cryptocurrency and give the proceeds back to groups that could use a little extra help. And we are superfans of Ethereum.”

Ryan Montoya is the CTO at the Kings. He recently told Yahoo News that,“We know blockchain is going to revolutionize the world,” and continued, “So, how can we be ahead of the curve and start to utilize blockchain in different parts of the business?”

 

Is the Sacramento Kings already accepting bitcoin as a form of payment?

Yup!! The Kings were the first team in the NBA to accept bitcoins as payment for season tickets and team merchandise. This likely shows a deep dedication to embracing new technology.

 

What does this mean for the sports industry and blockchain?

This is a huge step for the sports scene. There are a few blockchain platforms are being designed that would work to help authenticate one of a kind sports collectibles.

In addition to that, as cryptocurrencies become more mainstream, it is likely that they will be accepted by more teams for tickets and merchandise.

 

If you are running an offline business, there are a lot of other ways to accept Bitcoin offline and through a POS system, but these are the main ways you can accept Bitcoin and Cryptocurrencies online on your website. There are also popular WordPress plugins that you can take advantage of as well.

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Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8

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