The US beer company Budweiser cooperated with San Francisco-based Coinbase to integrate bitcoin payments at the Budweiser Made in America (BMIA) Concerts.
Under the project, the BMIA Concerts attendees will receive $10 in bitcoin for free. The concert-goers will be able to spend their bitcoins at the installed concession stands. They can also keep their virtual money and spend it later at any other establishments that accept it.
Headliner, an electro house trio Cash Cash, with Viceroy, will play at The Complex in Salt Lake City, Utah on June 12th. After the show in Salt Lake City, it will continue to Denver, Chicago, Detroit, New York and Boston.
The event, which was founded by artist JayZ and sponsored by Anheuser–Busch, includes live Rock, Hip-hop, R&B and EDM performances.
First BMIA concerts started in April in Wisconsin and will continue till the end of August with concerts in Philadelphia and Los Angeles.
In order to participate in the initiative, the concertgoers have to register on the BMIA Concert Series website. Then they get an invitation to create a Coinbase wallet on the company’s site. After the registration process for a wallet, the user receives $10 worth of bitcoin.
Budweiser admitted that the residents of California, Texas and Ohio are not eligible to opt-in. Moreover, the firm noted that the amount of bitcoin available is limited.
Bitcoin gradually increase its presence in the entertainment and sporting industries, primarily in the US.
A month ago, the San Jose Earthquake announced that it would incorporate bitcoin payments at its home stadium. Just like the BMIA Concerts, attendees will be able to use bitcoin for purchases at concession stands.
However, this trend has been observed in other countries. For instance, in March, GKS Katowice soccer club in Poland announced that is in plans to accept bitcoin payments. Chief executive Wojciech Cygan said the club was “open to new technologies”.
Coinbase recently announced their decision to give $10 of bitcoin to college students at institutions. This was made in attempt to promote new signups using .edu email address.
The partnership with Budweiser demonstrates Coinbase intention to attract younger people to is platform and to the blockchain and bitcoin technologies.
By getting people interested in bitcoin at an early age, there is a higher chance for the digital currency to be around years from now.
This project could be the beginning of bitcoin usage for buying more real-life goods, including event tickets, beverages and food.