Much wow! The Dallas Mavericks accept Dogecoin for tickets and merch
Dogecoin (DOGE), a cryptocurrency that originated in a joke, can now be used as payment for tickets and merchandise for the Dallas Mavericks basketball team.
The National Basketball Association franchise confirmed Thursday that it will be the first large company to accept DOGE, allowing users to convert digital currency to fiat using BitPay.
We are proud to be the first company to accept the #crypto Dogecoin for payment with BitPay!
You can now use #Dogecoin to buy tickets and merch online and make @DallasMavsShop more accessible to MFFLs everywhere! pic.twitter.com/1N0fk0NjAT
– Dallas Mavericks (@dallasmavs) March 4, 2021
The Mavericks have been accepting Bitcoin (BTC) payments through BitPay for almost two years. Interestingly, they were the second NBA team behind the Sacramento Kings to accept BTC.
In addition to DOGE and BTC, Mavericks fans can pay for goods with Bitcoin Cash (BCH), USDC, GUSD, PAX and BUSD.
BitPay CEO Stephen Pair says the NBA franchise is helping pave the way for cryptocurrency adoption:
“BitPay believes that with the continued adoption of cryptocurrencies, the industry will reach a tipping point that will forever change consumer confidence and pave the way for blockchain payments to disrupt the way consumers and businesses make funds receive and spend. “
Mark Cuban, owner of Mavericks, confirmed the news to Cointelegraph and explained his reasons for including DOGE payments:
It is real. And why shouldn’t we take it? Our payment gateways support this. We will HODLES whatever we get. And it’s great PR and fun to take! “
The billionaire has turned cryptocurrency upside down in the past, but seems to have dedicated himself to the digital asset class in recent months. He recently warned Bitcoin naysayer Peter Schiff that gold will no longer exist as a store of value as innovations in cryptocurrency make it easier for people to become their own bank.
As for Dogecoin, the cryptocurrency gained popularity earlier this year, even surpassing Bitcoin in terms of tweet volume, after the same Reddit crowd that pumped GameStop focused their efforts on DOGE. Elon Musk’s warm embrace of the meme-based coin also contributed to her rise.