By now, most have heard about Bitcoin. If not, it’s a virtual currency that has gotten a lot of attention over the past year, allowing it to slowly creep into the mainstream. The latest company who has begun accepting it for payment is NBA franchise, the Sacramento Kings, who says it can be used for purchases.
Kings owner Vivek Ranadive, who made his fortune in the tech industry, is working to revive interest in the Kings. According to Yahoo, the team said this week that it would use BitPay, an intermediary firm that specializes in processing bitcoin transactions, to process Bitcoin sales — including tickets to upcoming games, which ranges from $30 to nearly $1,000.
“We are maniacally focused on creating the most seamless experience for our fans in all facets,” Ranadivé said in a statement. “With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets.”
Bitcoin can already be used to purchase merch from the Kings’ team store. Ticket sales via bitcoin will start March 1.
One of the draws for Bitcoin is that users can transact online quickly and nearly anonymously while avoiding credit card fees.