Jonathan Becher, San Jose Sharks team president, announces that the NHL team is now accepting season ticket purchases, suite leases, and corporate sponsorships via crypto payments through its recent partnership with BitPay. As per the announcement, the Sharks are now able to accept Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Wrapped Bitcoin (wBTC), Ethereum (ETH), on top of five other stablecoins, namely BUSD, PAX, DAI, USDC, and GUSD.
While the offering is still exclusive to big purchases, such as those mentioned above, Becher states that the team is currently exploring the possibility of enabling the same scheme on much smaller purchases (game tickets and merchandise).
Different to how PayPal handles the same transactions, where it converts crypto to fiat currency after each successful sale, BitPay lets merchants receive cryptos directly, thus, providing a much streamlined approach.
Following said announcement, San Jose Sharks becomes the latest high-profile sports team to incorporate crypto payments in their day to day operations, which has gone rampant this past few months thanks to the exponentially growing demand for alternative investments brought by the ongoing pandemic. So much so that well-recognized entities in the world of sports, such as Mark Cuban’s Dallas Mavericks and Tom Brady are now head over heels over cryptocurrencies.