Mark Cuban’s Mavericks Accepting Bitcoin as the Form of Payment

UTC by Teuta Franjkovic · 3 min read
Mark Cuban’s Mavericks Accepting Bitcoin as the Form of Payment
Photo: The Official Home of the Dallas Mavericks

Even though he didn’t offer any specifics, Cuban suggested that the Dallas Mavericks’ crypto payments system could, when launched, offer support for not only for BTC and ETH but other coins as well.

The second NBA team who decided to receive Bitcoin (BTC) as the form of payment for match tickets and merchandise are, no wonder, the Dallas Maverick.

It is not surprising that this happened if we know that the team owner and billionaire tech investor Mark Cuban is a great crypto supporter as well.

A Twitter user asked Cuban when it would be possible to buy basketball tickets with the cryptocurrency. He said it would be possible next season and added that they would accept BTC, ETH, and possibly some other currencies. “[That’s] to be determined.”

But let’s start from the beginning. As the world continues to accept crypto more and more every day, fun industry especially the sports industry is realizing how the cryptocurrencies are important, and not just that. It is becoming clearer that they are much easier and more practical to use.

The move to crypto-acceptance has been happening for some time in the sporting space. In 2014, the NBA team Sacramento Kings began accepting Bitcoin (BTC) as a payment method for tickets and merchandise, in a move that was considered a first in the sports industry.

From then onward, loads of organizations began investigating the use of digital tokens. The NBA outfit Cleveland Cavaliers announced a new partnership with cryptocurrency exchange UnitedCoin and Miami Dolphins recently partnered with Litecoin (LTC) as the NFL team’s official cryptocurrency.

According to part of a Dallas Mavericks press release, it seems that the team will be using BitPay’s services to process their fans’ Bitcoin payments.

Marc Cuban and Crypto

Last week Marc Cuban gave an interview in which he spoke about the connection between Bitcoin and gold itself.

He said:

“I see gold and Bitcoin as being the same thing. Their value is based off of supply and demand.”

It’s interesting though that Cuban actually hates gold but it seems that the idea of ‘digital gold’ has caught him a bit as well. He obviously understands what trends are and he knows that a lot of Mav’s fans are billionaires themselves and – pretty much into crypto.

Let’s also not forget that his involvement in the crypto space started 2017 with investments in both a digital currency hedge fund and an ICO, as well as the launch of the Ethereum-based Mercury Protocol back in August 2017. After that year – he for sure stopped talking that “Bitcoin is a bubble”.

This summer he also spoke about Facebook’s Libra calling it a big mistake and could even be dangerous. However, he then added that he is not against cryptocurrency at all.

Cryptocurrencies in the Sports Industry

Be it as it may, sports are becoming an increasingly fertile ground for bringing blockchain and cryptocurrency to a vast audience.

American boxer Mike Tyson recently announced he will be leading a new blockchain-powered cross-entertainment venture and fan token ecosystem that aims to catapult aspiring young fighters to success.

After last year’s UEFA Soccer Championship, a number of Europe’s biggest teams started to adopt a blockchain-based solution that gives fans a number of token-powered utilities to interact with the team. Juventus, Paris Saint Germaine, West Ham and Roma have all engaged in their own partnerships with the blockchain-based fan engagement platform Socios.

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Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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