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Litecoin Foundation and American football team the Miami Dolphins teamed up to usher in cryptocurrency payments. The partnership will start during NFL season, where the Dolphins will accept Litecoin (LTC) as their “official cryptocurrency.”
Litecoin Foundation and the Miami Dolphins have also partnered with a third party, Aliant Payment, to smoothen crypto transactions for the football’s team anticipated 50/50 raffle, which gives half of its revenue to the Miami Dolphins Foundation plus its charitable activities.
Purchase Raffle Tickets
The move will invite new users of cryptocurrency therefore, instead of using fiat money, the new users will purchase raffle tickets with Bitcoin (BTC) and Litecoin (LTC). Furthermore, they’ll have the option to buy the tickets online or through in-stadium kiosks situated in Hard Rock Stadium.
Bitcoin and Litecoin share some features in common, the technical underpinnings. Bitcoin still tops the cryptocurrency by market cap with average MC of over $201, while Litecoin comes a distant fourth with a total cap of over $6.37 billion, as per the released report by Coin360.
Instead of just playing a responsibility in the aforementioned raffle, LTC crypto will also feature in Dolphin’s in-game branding as well as the formation of advertisement possibilities.
Charlie Lee, managing director of the Litecoin Foundation and Litecoin creator, expects to utilize this partnership as an avenue to spread the awareness of LTC and cryptocurrencies to the public. He said:
“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum, and the ecosystem is able to support real-world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
Public Awareness About Crypto and Technology
While the effort is just a minor obligation in the top American professional football team’s money-making strategy, the move marks the latest attempt by Litecoin Foundation to educate the public about the technology and cryptocurrency in general.
In June this year, Portuguese sports club SL Benfica launched a payment through cryptocurrency for merchandise and tickets. The sports club partnered with Utrust, cryptocurrency services to promote this latest payment alternative. SL Benfica now accepts both Ethereum (ETH), Bitcoin (BTC) and Utrust’s native token.
Last year, the Litecoin Foundation also collaborated with Ultimate Fighting Championship (UFC), a highly credited mixed martial arts organization, in an agreement to feature the Litecoin logo on the fight octagon’s canvas at a game comprised of a former UFC light heavyweight champion.