The NBA’s Brooklyn Nets are considering a new set of payment options that involves Bitcoin (BTC) and possibly other crypto assets.
Nets chief executive John Abbamondi reveals that BSE Global, the team’s parent firm, is in conversations with companies in the industry as they gear up to potentially add crypto assets, especially Bitcoin, as a means of payment.
“We’re watching the space very closely. We’re in conversations with a number of potential partners. It’s a very interesting and exciting space, and I think particularly with regards to Bitcoin, I think it’s here to stay.”
Abbamondi says that he expects the NBA franchise to make an announcement regarding the matter “in the coming weeks or months.”
As for the Nets’ potential partners, Abbamondi says that they plan to team up only with the best of the best in the nascent space.
“We are most focused on firms that are in this space that are highly reputable and highly regulated because we do think that this space is moving so quickly that some of the players in this space are not as reputable as some others. And so the folks that we are talking to right now are ones that are as blue-chip as it comes, because if we’re going to partner with someone in this space, the first thing we want to do is make sure that they’re doing right by their customers.”
If the New York-based NBA team pushes through with its plans to accept crypto for payments, it will become part of a small but growing list of sports franchises hopping on the digital asset bandwagon. In 2014, the Sacramento Kings became the first team in the NBA to accept BTC. The Dallas Mavericks followed suit in 2019 after announcing that they are accepting Bitcoin for tickets and merchandise.
In a more recent development, the Dallas Mavericks said in March that they are accepting meme cryptocurrency Dogecoin (DOGE) for tickets and merchandise.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Kiselev Andrey Valerevich