SACRAMENTO, Calif. — The Sacramento Kings will be the first professional sports team to accept Bitcoin as payment, an NBA spokesperson announced Tuesday.
Bitcoin purchases will be processed through BitPay, the world's largest payment processor for virtual currencies — also known as cryptocurrencies.
Majority team owner Vivek Ranadivé purchased the Kings earlier this year and has directed a business philosophy coined NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships.
“We are maniacally focused on creating the most seamless experience for our fans in all facets,” said Ranadivé. “With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets. A major tenet of the NBA 3.0 philosophy is about utilizing technology for the betterment of the fan experience, and this is yet another step in that process.”
Sacramento Kings player De'Aaron Fox previously raised money for a digital currency project known as an NFT before abandoning the project in a controversial move.
