By Alicia Maher
As part of cooperation aimed at boosting cryptocurrency education and acceptance, the New York Digital Investment Group will finance the National Basketball Association’s Houston Rockets team in Bitcoin as part of a payment arrangement.
The Houston Rockets announced on November 16 that New York Digital Investment Group, or NYDIG, will become the team’s exclusive Bitcoin (BTC) service provider and tool. According to the agreement, NYDIG will rename a portion of the Rockets’ exclusive seats at the Toyota Center in Texas to the “Bitcoin Suites,” as part of the collaboration.
According to reports, the agreement with the New York Development Investment Group appears to be part of a bigger scheme for Rockets founder Tilman Fertitta, who is also the chairman and chief executive officer of Landry’s Restaurant Group.
The company stated last week that it would be implementing a Bitcoin (BTC) incentive program for its eateries, and it has already begun rolling out Bitcoin payment alternatives. Landry’s and other businesses have allowed Fertitta to accumulate a net worth of around $6.3 billion, which includes a few lodges and five casinos across the U.S.
It has not been reported that BTC or other Altcoins are being recognized at these locations as of the time of writing. On the other hand, Fertitta stated in June that his holding company intended to begin certifying blocks on the Akash Network. Many big basketball clubs in the United States have partnered with firms that deal with virtual currencies and blockchain technology this year, which is a first for the crypto market.
In October, Voyager Digital announced a partnership with the Dallas Mavericks to make cryptocurrency more accessible to the general public through fan involvement. According to reports, Coinbase has also just struck a multi-year sponsorship agreement with the NBA to serve as the league’s sole cryptocurrency platform partner.
Dallas Mavericks’ Partnership With Voyage Digital
Voyager Digital has partnered with the Dallas Mavericks NBA team to promote crypto through fan interaction and educational activities. In a five-year arrangement announced in October, Voyager Digital became the Mavs’ first digital currency brokerage and worldwide associate in a five-year arrangement. The exchange platform will also be able to name the Dallas Mavs NBA 2K League team’s home arena.
As co-founder and CEO of Voyager Digital, Steve Ehrlich remarked, “This cooperation allows us to teach individuals all around the world how to utilize crypto in everyday life.” “We aim to teach individuals how to use crypto to develop intergenerational wealth and attain genuine financial independence. The Mavs and their CEO, Mark Cuban, are terrific partners for this.”
The basketball team was among the first in the NBA to embrace virtual currency for tickets and merchandise. The Mavs began accepting Bitcoin (BTC) in 2019 and added Dogecoin (DOGE) this year, possibly owing to Cuban’s support for the meme-based asset. Due to the increasing profitability of crypto, several crypto firms and platforms have partnered with sports organizations worldwide.