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San Jose Sharks to Accept Crypto in First for NHL Team

The San Jose Sharks will become the first NHL team to accept cryptocurrency such as Bitcoin, Ethereum and Dogecoin. The team will start accepting cryptocurrency for season tickets, and partnerships and suite leases; it will later consider smaller payments for single-game tickets, concessions, and merchandise, Sharks’ president Jonathan Becher said on Twitter.

Per his tweet, “We’re accepting PayPal, so then by definition, we’re accepting cryptocurrency. Why not embrace it and make it more visible as opposed to just doing it through a third party?”

Fans will have to use the cryptocurrency payment service BitPay to execute transactions, and the team will additionally accept Bitcoin Cash, Wrapped Bitcoin and five U.S dollar-pegged stablecoins. The Sharks already accept purchases through PayPal, which began allowing users to buy and sell cryptocurrency last year. MLB’s Oakland A’s and the NBA’s Dallas Mavericks are other pro teams that accept crypto payments.

Blockchain Will Impact Sports and Entertainment — Jonathan Beecher

The NHL team president believes that the blockchain industry could have more impact on sports and entertainment than it already has. 

He made this statement in response to a Twitter user who quizzed him on the probability of his team accepting NFTs in the future. According to him, “Perhaps. I do think the blockchain will have more of an impact on sports & entertainment than people realize.”

Already, we have seen major sporting institutions and major players in the entertainment industry adopt crypto assets as a way of reaching more of their fans.

Many of these institutions have tied their entrance into the space to the growing demand by their fan base.

Meanwhile, with the move, the San Jose Sharks NHL team now joins the Dallas Mavericks, Sacramento Kings, Oakland Athletics, Southampton F.C., and other professional sports teams accepting Bitcoin and other crypto assets.

Source: Cryptoslate, SportTechie