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Sacramento Kings to give players bitcoin option for their salaries

Sacramento Kings owner Vivek Ranadive plans to give his players a bitcoin option, further proving that the NBA team is the most crypto-forward team in professional sports

Vivek Ranadive confirmed on Clubhouse that the Sacramento Kings will become the first major sports franchise that will offer bitcoin as a form of payment to its players and staff. More moves like this may see America take centre stage in the crypto industry.

Coindesk further confirmed these claims via a speaker on the Clubhouse platform, hosted by Tim Draper.

Sacramento Kings to give players bitcoin option for their salaries - AIBC News

This move further establishes Ranadive's claims that the Sacramento Kings are the most forward thinking franchises when it comes to cryptocurrencies. The NBA team had accepted bitcoin payments for hot dogs back in 2014 while in the year of 2019, the franchise launched reward tokens for fans.

The NBA is one of the most proactive franchises in the US when it comes to cryptocurrency and blockchain technology. The basketball association is already topping the list in digital collectibles through NBA TopShot.

Furthermore, NBA franchise owners, including Vivek Ranadive, have formed an NBA Blockchain advisory committee. The committee also includes crypto enthusiast and investor Mark Cuban of the Dallas Mavericks, Joe Tsai (Brooklyn Nets), Ted Leonsis (Washington Wizards), Steve Pagliuca (Boston Celtics) and Ryan Smith (Utah Jazz).

The aim of this committee is to advise the NBA on how to incorporate blockchain and crypto solutions for the league such as:

  • Ticket systems and purchasing
  • Giveaways
  • Digital signed memorabilia
  • Retirement of jerseys and numbers

About AIBC Dubai:

AIBC UAE will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.

It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.

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