Sacramento Kings Makes Bitcoin One of Salary Options
Even if you aren't a basketball fan - or maybe you just root for another NBA team - the news regarding yet another instance of cryptocurrency adoption by the sports industry won't leave you indifferent. It appears that Sacramento Kings should be rebranded to Kings of Crypto for the team's immense contribution to the popularization of cryptographic money.
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Yet another display of crypto-friendliness from Sacramento Kings.
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Mark Cuban unimpressed by Kings' crypto initiative.
Yet another display of crypto-friendliness from Sacramento Kings
Performance-wise, Sacramento Kings is far from being the top NBA team at the moment since it's now third from the bottom in Western Conference with 22 wins and 34 losses, while being on the 9-game losing streak. But the area where the Kings is far in front of its opposition is, of course, cryptocurrencies and their integration into the franchise.
Last week, the news broke out that the squad from the capital city of California is about to become even more crypto-oriented by offering all of its players and staff members an option to receive the salary in Bitcoin.
The unofficial announcement regarding an even deeper dive into crypto was made by the CEO and the Governor of the Kings, Vivek Ranadive, during the online chat show on Clubhouse, hosted by the group named "Satoshi Roundtable." During the show, hosted by two well-regarded Bitcoin proponents Tim Draper, who became known for actively buying BTC from US Marshall's auction back in 2014, and Bruce Fenton, an executive director of Chainstone Labs and a number of other blockchain projects, Ranadive revealed his plans to offer every member of Kings organization - both staff and players - an option to receive a salary in the first cryptocurrency, effectively making it the first NBA franchise to fully embrace cryptocurrencies. According to Ranadive, all Kings' employees can choose to get "paid as much of they salary in Bitcoin as they want."
Obviously, the news couldn't have slipped the public attention, and it was Neil Jacobs, the host of the popular Clubhouse discussion board Cafe Bitcoin, who was the first one to share it via Twitter - it was later confirmed by reputable crypto media outlets like Coindesk.
Mark Cuban unimpressed by Kings' crypto initiative
In the wake of the news about the Sacramento Kings becoming even more devoted to cryptocurrencies, Zack Seward, a reputable crypto expert, and his team had emailed Mark Cuban to inquire about his opinion on the matter. The media-friendly billionaire and owner of Dallas Mavericks replied that Sacramento's initiative doesn't really carry much significance because any NBA player or team staff member can easily convert any part of his salary to crypto on his own accord, using the third-party service. Apparently, all players on his team are tech-savvy enough to buy their own crypto, or he might feel a bit salty about the competitor's bold PR move.
In any case, since 2014, Sacramento Kings has constantly been proving its status as the sports team that all crypto enthusiasts should root for since it has opened the gateway for cryptocurrencies to one of the biggest and the richest leagues in the world.