San Jose Sharks become first NHL team to accept crypto
The San Jose Sharks will become the first NHL team to accept cryptocurrency payments, joining other professional NBA and MLB sports teams in embracing digital currency.
Beginning with the 2021-2022 season in October, the Sharks will accept cryptocurrencies, including bitcoin, ether, and dogecoin as a form of payment for subscriptions, suite leases, and partnerships, the Sharks said. Sharks president Jonathan Becher. confirmed on Twitter.
The ability to use crypto for more modest purchases such as individual game passes, merchandise and concessions “will be assessed over time,” Becher added.
The Sharks big boss said the team may also consider selling additional blockchain-based products, such as collectible NFTs, writing: “I think blockchain will have more of an impact on sports and the entertainment than people think. ”
The Sharks – who haven’t made it to the NHL playoffs this year – are joining the Sacramento Kings and the Dallas Mavericks of the NBA and the Oakland Athletics of the MLB in accepting crypto.
Becher told the Sports Business Journal, which first reported the news, that the payment giant PayPal’s decision last year to allow its customers to use cryptocurrency was factored into his thinking.
“We accept PayPal, so by definition we accept cryptocurrency. Why not embrace it and make it more visible rather than just doing it through a third party?” He said.
The Sharks plan to accept encrypted payments through the BitPay processor.
The price of bitcoin, the most popular cryptocurrency, has plunged in recent months after peaking at over $ 63,000 in April. The cryptocurrency was trading at around $ 32,000 on Tuesday afternoon – down more than 10% in the last week alone.
Dogecoin had an even wilder 2020, dropping from 3 cents in late 2020 to a peak of 73 cents in early May, supported by encouragement from Elon Musk and the hype among online traders. It is currently trading at around 32 cents.