The Sacramento Kings announced yesterday that they will be the first professional sports organization to accept Bitcoin as payment for team-related transactions. Having pitched the league on on a technology-heavy direction in order to keep the team in Sacramento, the Kings’ majority owner, Vivek Ranadive, has announced that the team will now be accepting Bitcoin virtual currency.
As early as this spring, fans will be able to purchase tickets and souvenirs with Bitcoin, the first step in the team’s efforts to push the envelope for a totally digital in-stadium experience devoid of paper money and tickets.
Bitpay’s flat fee transaction system should enable the Kings to bring in more revenue for the team, while placing any potential risk on the shoulders of those engaged in Bitcoin’s still unproven economy.
Additionally, the team says it is toying with the idea of employing Google Glass to enhance both the fan experience, and the abilities of its coaching staff. Potentially, Glass would provide statistical and analytical support to games in real time, enabling both fans and coaching staffs greater access to the game as well as its underlying data sets.