The Sacramento Kings have been struggling to stay right where they are, in the state capital of California. They’re one of four NBA teams in the state, amongst the LA Lakers, LA Clippers and Golden State Warriors. In fact they are only 90 minutes away from the Warriors, which of course shouldn’t matter to anyone since the Lakers and the Clippers both play at the Stapes Center (conspicuously left the L out there).
Geek.com brings up the fact that the NBA is the most technologically accepting professional sports league. More NBA players are active on social media, especially Twitter and Vine. The NBA recently moved to the advanced SportVU camera system and they have by far the most thorough of official mobile apps.
There’s also a lot of tech money in the NBA. Joe Lacob of venture capital firm Kleiner Perkins Caufield & Beyers, is the marjority owner of the Golden State Warriors, who play at the Oracle Arena. Robert Pera, the former Apple engineer and billionaire founder of Ubiquiti Networks is the majority owner of the Memphis Grizzlies. Vivek Ranadive is a computer engineer and the founder of TIBCO the company that created some of the first technology used on Wall Street in the 1980s. Ranadive is the owner of the Sacramento Kings.
Possibly it’s Ranadive’s progressive views on financial markets, or possibly the fact that the Sacramento Kings are just in a hotbed of technology, but it was widely announced on Thursday that the team would begin accepting Bitcoin for ticket and merchandise purchases made online. They plan to start accepting Bitcoin in March.
Obviously, like just about all companies accepting Bitcoin, fans will be able to pay with fractional Bitcoins. Currently the price of one Bitcoin is hovering around $800 and even season tickets for the Sacramento Kings start at just $260 per seat (that’s a nosebleed by the way), of course they go up to $5600 on the floor (and we’re about halfway through the season).
The Kings will use BitPay as their Bitcoin processor which will convert the Bitcoin into US Dollars for the team. Joe Harper, a Sacramento Kings fan based in the valley told us that there is a high number of people in the area that use Bitcoin and that may be one of the reasons the Kings are now accepting the virtual currency. He also pointed out that the team has made several moves this season, including bringing in Rudy Gay from the Toronto Raptors, and stadium and interactive improvements, to help entice fans and keep the team in Sacramento.
Would you buy NBA tickets with Bitcoin? Let us know in the comments.