Sacramento Becomes First NBA Team To Offer Bitcoin Salaries
US professional basketball team Sacramento Kings is offering its staff and players the option of earning in Bitcoin. This was disclosed by the team’s Chairman, CEO, and Governor Vivek Ranadivé on popular social networking app, Clubhouse.
The news first broke out on Twitter after a Clubhouse audience member, Neil Jacobs, tweeted what the Sacramento Kings owner said.
“I’m going to announce in the next few days that I’m going to offer everyone in the Kings organization, they can get paid as much of their salary in bitcoin as they want, including the players,” said Ranadivé, according to Jacobs.
The news has generated many opinions from crypto critics and enthusiasts. Most say that this move would strengthen the California NBA team’s long-standing claim to be one of the most pro-crypto teams in professional sports.
This is not the first time the sports team has innovated using blockchain tech. Sacramento Kings announced back in 2014 that they were open to receiving payments in Bitcoin for their team merchandise in partnership with payment processor BitPay.
It also started mining cryptocurrency in 2018 by setting up a program called MiningForGood that donates the funds to charity.
In 2019, Sacramento Kings went on to launch rewards tokens for fans. The token was called The Kings Token, and it was done in partnership with blockchain-based event ticketing platform Blockparty.