NBA Basketball Team Sacramento Kings Are Leaders for Offering Fans Cryptocurrency Options
The NBA’s Sacramento Kings surely know how to keep up with technology in sports and are updated on the latest crypto and blockchain innovations.
Back in 2014, Sacramento Kings was the first team in sports to accept Bitcoin (BTC) payments. It seems that for now, it remains amongst the few that have integrated the blockchain technology too. The Kings also has its own crypto mining farm and announced at the beginning of 2019 that it’s going to launch a blockchain-based Blockparty rewards program.
It Doesn’t Look Like Things Are Slowing Down for the Team
Ryan Montoya, the chief technology officer for the Kings, has said that things aren’t slowing down with the technological advancement of the team since its ownership is comprised of business executives who are very innovative, like the owner Vivek Ranadivé. Besides, the Kings aren’t at all interested in what other teams do. Montoya said,
“We have a very tech-savvy ownership group and innovation is a given; it’s part of our DNA,”
“As an organization, any organization, you should always be focused on how to disrupt yourselves before you’re disrupted.”
He added that introducing the Bitcoin as a payment method was a success, considering the stablecoin was then valued at $800, only to end up at $8060 on November 20, 2019. He also said,
“People from all over the world were buying Kings jerseys, tickets, different Kings gear. They were super excited that this team was accepting Bitcoin […] We even put a Bitcoin ATM in the arena. Then the Bitcoin price went up to $1,200 and they quit spending the Bitcoin.”
Kings Will Continue to Implement the Blockchain Technology
Regardless of the Bitcoin payments dropping significantly, Montoya says the brief success Kings have had in this sector is continuing to keep the organization involved in implementing the blockchain technology and launching a digital currency. This strategy has led to the opening of a checkout-free store at Golden 1 Center, with Zippin as a partner.
Blockchain Technology Bringing Value for the Fans
The fact that Bitcoin’s value is making purchases more difficult is undeniable, but this doesn’t mean the blockchain technology can’t bring more value for Kings’ fans. As a matter of fact, the Blockparty partnership comes to confirm this by providing a rewards program that enhances the NBA Call the Shot app. The team is looking to make another step in recognizing the blockchain technology’s worth. Aside from having Bitcoin for payments and a rewards program based on the blockchain, it wants to educate the younger generation on how to mine for cryptocurrency. Montoya said,
“We utilize that [the center] to engage the community and teach the youth about STEM education and the importance of blockchain. Students of Sacramento should not be exposed to it 10 years from now, they should understand now that it’s a cool piece of technology and powering these things in the arena.”
The Partnership with CryptoKaiju Making the Digital World More Real
The Kings are doing whatever they can to bring the digital world into the real one as they have partnered with CryptoKaiju for distributing traceable vinyl toys that are powered by vinyl toys. More than this, it’s running sessions of interacting scavenger hunts all season, giving limited editions toys related to some exclusive experiences. There are 100 toys like these, out of which 15 come with VIP tours and courtside seats.
Kings Fans are Very Tech Savvy, Just Like the Team
Montoya claims the team has had a lot of success with technological innovations, regardless if these were making the fans have a better experience or gain insight because it’s tech-savvy and has fans that are the same. He added,
“Our fans are very savvy. For example, the soft launch of the checkout-free store. People instantly knew what it was and didn’t take a lot of explaining,”
“Fans are pretty smart, they may not use the technology every day, but so long as you make it easy to use, they’ll utilize it.”