Sports clubs

5 Sports Teams That Are Using Cryptocurrency

Nicoleta Balan Avatar
Aug 10, 2022
4 min reading time

Over the last few years, the cryptocurrency market has increased worldwide. Now, sports and crypto have become more intertwined. There are many famous sports clubs that accept cryptocurrency payments.

Players of sports like chess, basketball, and soccer have been dealing in virtual assets using secured cryptographic keys. Even sports bettors are using cryptocurrency. They first gain knowledge about sports-related topics and then place a bet. 

For example, they check NFL odds and NFL lines to place a bet on famous NFL tournaments using crypto. In this article, we will list below the top five sports clubs that are using cryptocurrencies, and what they’re utilizing crypto for.

NHL’s San Jose Sharks

In 2021, the ice hockey team – San Jose Sharks – announced that they are accepting crypto payments. This Californian pro ice hockey club is the first NHL club to move into crypto. They will accept digital currency in payment for season tickets, suite leases, and partnership tournaments. 

It’s unclear how much this new feature is actually used, or whether or not it was a publicity stunt. However, California is one of the states where the residents are the most positive towards crypto and it’s only natural that the Sharks would want a piece of that cake.

Dallas Mavericks from the NBA

Another sports club that uses cryptocurrencies for payments is the Dallas Mavericks. It is one of the best basketball teams you’ll see in the USA. In March 2021, the “Mavs” announced a partnership with BitPay to allow Dogecoin (DOGE) payments. 

With this deal, basketball fans can buy tickets and merchandise using Dogecoin and other crypto assets. The Mavericks are owned by famous American billionaire and star of “Dragons den” Marc Cuban, who famously is very interested in crypto and its potential uses. 

Miami Dolphins in the NFL

In June 2022, Miami Dolphins signed a partnership deal with the Litecoin foundation. According to the deal, they will start using the cryptocurrency for payments from September 5, 2022. The Dolphins’ supporters can purchase game tickets using Litecoin, Bitcoin, or any other crypto assets.

This setup looks more or less identical to the one that is run by the sharks, but the Miami Dolphins are in the process of trying to modernize their franchise and make it more appealing, something that they hope crypto can help them with. Many sports clubs see the highest potential in cryptocurrencies in 2022, which is why they are using it.

Top Portuguese team S.L. Benfica

S.L. Benfica is one of the oldest football clubs in Europe. Also, it became the first professional football club to use Bitcoin payments in Portugal. 

In June 2022, the football club announced that their fans could purchase the tickets using Bitcoin, UTK, and Ethereum. The decision to use crypto was taken by the management to apply an innovative e-commerce strategy. 

What stands out about Benfica is their decision to start accepting crypto so late. As you’re most likely aware, the first half of 2022 wasn’t kind to the crypto markets, something which indicates that the management behind Benfica has high faith in the future of crypto. 

Behemoth of European Football Juventus 

Juventus FC is one of the oldest football clubs in the world. The team decides to use cryptocurrency to help fans with buying blockchain-based products. 

They have introduced the official fan tokens and made them available on Socios.com. Juventus, along with PSG, are one of the few clubs that have taken crypto a step further with the introduction of their own cryptocurrency. 

This currency is attainable in a number of different ways, but it’s also publicly traded on exchanges and you can see the price in real time on brokerages and on market websites.

Featured Image: unsplash.com

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