The Sacramento Kings NBA franchise announced that the team would begin to accept Bitcoin for tickets and merchandise sales starting on March 1 of this year.
This decision will make the team the first pro sports franchise in the nation to accept the digital currency. The team has selected BitPay to process payments, which allows the franchise to stay focused on the business of basketball and not worry about the technology that powers the new payment option.
Vivek Ranadive, owner of the Kings, was previously the founder of Teknekron Software Systems, the firm that is credited with digitizing Wall Street in the 1980s, making him a natural to help usher the NBA into the digital currency game. "With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets," Ranadive said while commenting on the announcement.
His efforts to modernize the league don't stop here, as he is also encouraging the league to focus on "investments in technology, globalization and deep community partnerships," Ranadive said.