Wednesday, August 17

NBA team will hold bitcoins it receives from a sponsor

Basketball in the United States continues to open up spaces for bitcoin (BTC) and other cryptocurrencies in different ways.

Recently, the Houston Rockets, an NBA team, partnered with the New York Digital Group (NYDIG), a provider of financial services dedicated to bitcoin.

The alliance between both companies includes benefits for fans who could start making payments with BTC.

NYDIG sponsorship payment is made in bitcoin (for an unspecified amount). The basketball team will “hold” those coins in the custody platform provided by the financial company itself, according to a release.

“Partnering with NYDIG allows us to harness the growth of bitcoin to bring creative rewards and payment options to our fan base and associates,” said Rockets President of Business Operations Gretchen Sheirr.

Likewise, they plan to encourage and educate the followers of the Rockets and the citizens of the city of Houston, Texas, about bitcoin and its use as a means of payment.

Additionally, the agreement will allow the NYDIG brand to have a presence at the Rockets stadium, as well as on the team’s social networks.

The Houston Rockets and NYDIG will promote bitcoin education to team fans. Source: Twitter.

From the financial company, they believe that adopting bitcoin, as the NBA team has done, is a way to “generate loyalty” between companies and brands with their clients that are expanding and are influential.

The Fertitta family, owners of the Houston Rockets, also allows payments with bitcoin in another of your companies called Landry’s. This gastronomic company operates more than 600 restaurants, hotels, casinos and entertainment destinations in 35 US states.

Bitcoin exchanges gain ground in NBA

As part of the expansion of bitcoin exchanges and the popularity that the cryptocurrency has taken in the United States, they have reached unexpected places within the NBA.

Recently, the exchange house, acquired the rights to the Staples Center Arena, home stadium of the Los Angeles Lakers and Los Angeles Clippers, a fact reported by CriptoNoticias.

The agreement, that you cost the exchange $ 700 million, will allow you to name the stadium and that will be Arena. The name change will take place this Christmas and will continue throughout the 2022 season, although the possibility that it can be extended is open.

Other bitcoin exchange that makes life in the NBA, is Coinbase. The company became the exclusive partner of the basketball league, as well as the Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League, and USA Basketball.

The agreement, like that of the Rockets, also contemplates the use of unique content, innovations, activations and experiences of Coinbase “to educate fans about the growing advances that occur in the cryptoeconomy,” they said.