The Sacramento Kings may soon be paid in Bitcoin a new report by Coindesk has revealed citing the franchise's owner. Club owner Vivek Ranadivé broke the news on Monday speaking to Tim Draper and confirming that his team is preparing to make a formal announcement at some point this week.
If this is true and Ranadivé delivers on his promise, the Sacramento Kings will be the first professional sports franchise in the United States to begin accepting payments in cryptocurrency.
The idea has been floated in the past across numerous associations, but the NBA has proven the most forward-thinking one, having embraced solutions such as NBA Top Shot, an NFT project that uses the association's intellectual property to create non-fungible token (NFT) digital assets.
However, the Kings' decision seems to be completely independent from the rest of the NBA and the team is actually pioneering the move. The Kings won't put any pressure on players and staff. Rather, everyone will be allowed to choose how much of their salary they want to get paid in crypto.
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While the NBA has an established track record with clubs accepting Bitcoin as a viable payment option for tickets, this is the first time salaries will be paid out using crypto.
The Sacramento Kings and Mark Cuban's Dallas Mavericks are both accepting Bitcoin as a viable payment method for tickets and merchandise. Cuban's support of blockchain technology in the NBA is well established, too.
The Mavericks are also about to start accepting Dogecoin in an unprecedented endorsement move for the altcoin.