Sacramento Kings to give players bitcoin option for their salaries

Posted:Apr 06, 2021 11:16 Category: Americas , Posted by
Ravindu Dabarera

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

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