National Basketball Association

Daily Buzz: Kings to start accepting Bitcoin for tickets, merchandise

Updated Mar. 4, 2020 11:32 p.m. ET

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Sam Gardner

The term “Bitcoin” has increasingly become part of the English lexicon in recent years, and these days, tech-savvy users of the online currency can use it to buy everything from Subway sandwiches to Lamborghinis.

Soon you’ll be able to add “seats to the game” to that list, too, now that the Sacramento Kings have announced that they’ll be accepting Bitcoin in exchange for tickets and merchandise.

According to the Sacramento Bee, the Kings have teamed up with Bitpay, “the world’s largest payment processor for virtual currencies” as the latest step in the team’s technology push, which already includes paperless tickets and an in-game app.

CNN reports that on Thursday the team began accepting Bitcoin payments in the team shop at Sleep Train Arena, and by March 1, fans will also be able to use the Bitpay app to buy tickets and merchandise online.

“We are maniacally focused on creating the most seamless experience for our fans in all facets,” Kings managing partner Vivek Ranadive said in a statement. “A major tenet of the NBA 3.0 philosophy is about utilizing technology for the betterment of the fan experience, and this is another step in that process.”

Kings president Chris Granger told the Sacramento Bee that, while they don’t expect Bitcoin sales to represent a major portion of the team’s transactions, the Kings have “a growing number of tech-oriented fans and we think (Bitcoins are) yet another way to make the experience for those fans more seamless and hassle free.”

Bitcoin can be purchased in online exchanges, and the value of the currency has gone through the roof in the last 12 months. According to the Sacramento Bee, one Bitcoin was equivalent to $13 at the start of 2013. Bitpay’s exchange rate for one Bitcoin as of this writing was $815.96 — or about five lower-bowl, sideline seats to Sacramento’s next home game.

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