Image credit: CNBC
With the growing interest in cryptocurrency around the world, Mark Cuban, owner of the Dallas Mavericks NBA team, announced Thursday that his team will now accept Dogecoin as a form of payment for tickets and merch.
Dogecoin(DOGE) which started as a joke was created in 2013 and has recently seen a rise in public interest after Elon Musk, Snoop Dogg, and other celebrities tweeted about the cryptocurrency. Worldwide grew sharply after Musk tweeted back in early February about DOGE.
Since then, Dogecoin has seen a steady rise in value with the price reaching $0.04925 as of the time of this writing. Even though it's still far behind Bitcoin which has reached $50,000 in recent weeks, Dogecoin is poised to reach $1 in price within a couple of months.
The Dallas Mavericks announced they are the first major business to accept DOGE, allowing users to pay for tickets and merchandise using Bitpay.
However, this isn't the first time they are accepting cryptocurrency as a form of payment. The Mavericks were the second NBA franchise after the Sacramento Kings to start accepting Bitcoin as a method of payment in May 2019.
Mark Cuban said in a statement on the Mavs website on Thursday, March 4th;
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth-shattering reason because we can! Because we can, we have chosen to do so.”
“We have chosen to do so because sometimes in business you have to do things that are fun, engaging, and hopefully generate a lot of PR. So we will take Dogecoin, today, tomorrow, and possibly forever. For those of you who would like to learn more about Dogecoin, we strongly encourage you to talk to your teenagers who are on TikTok and ask them about it. They will be able to explain it all to you,” he added.
Will other NBA team owners follow in the Shark Tank billionaire's footsteps? Or will this end up as a PR stunt?
Let me know in the comments.