Bitcoin Is Now Sponsoring NCAA College Football Bowl
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Bitcoin Is Now Sponsoring NCAA College Football Bowl
Bitcoin Is Now Sponsoring NCAA College Football Bowl
Merchant bitcoin payments processor BitPay has announced that it will sponsor the St. Petersburg Bowl, an annual college postseason football game sanctioned by the National Collegiate Athletic Association (NCAA), through 2016.
This year’s game will kick off at Tropicana Field, home of Major League Baseball’s Tampa Bay Rays, on 26th December under a new name. The bowl was previously sponsored by chain restaurant Beef ‘O’ Brady’s and USB provider magicJack.
This year’s game will kick off at Tropicana Field, home of Major League Baseball’s Tampa Bay Rays, on 26th December under a new name. The bowl was previously sponsored by chain restaurant Beef ‘O’ Brady’s and USB provider magicJack.
Executive chairman Tony Gallippi explained:
“Our goal is to continue to move bitcoin into the mainstream and sponsoring the St. Petersburg Bowl offers us that opportunity. College football fans and the bitcoin community represent a similar target demographic – tech-savvy men between the ages of 18 and 40 [years old].”
Brett Dulaney, executive director of the Bitcoin St. Petersburg Bowl, welcomed BitPay to the world of college football and one of its venues, St. Petersburg.
The game will air on ESPN, a sports-centric US television network that reaches nearly 100 million American households.
“Our goal is to continue to move bitcoin into the mainstream and sponsoring the St. Petersburg Bowl offers us that opportunity. College football fans and the bitcoin community represent a similar target demographic – tech-savvy men between the ages of 18 and 40 [years old].”
Brett Dulaney, executive director of the Bitcoin St. Petersburg Bowl, welcomed BitPay to the world of college football and one of its venues, St. Petersburg.
The game will air on ESPN, a sports-centric US television network that reaches nearly 100 million American households.
However, this time around fans will be able to purchase tickets and merchandise in bitcoin.
It is not yet clear what types of merchandise will be available or whether this promotion will extend to in-stadium purchases for food and beverages, though more details are likely forthcoming.
Bitcoin has intrinsic properties that can make it a viable alternative payment method at sports arenas and other entertainment venues, and major professional teams are taking note.
Earlier this year, the San Jose Earthquakes soccer club started accepting bitcoin at its stadium box office, gift store and concession stands. Earthquakes President Dave Kaval told CoinDesk that the team decided to embrace bitcoin thanks to the relative proximity of Silicon Valley and its strong association with the digital currency. He also explained why bitcoin is a good choice for sports venues.
Additionally, the Sacramento Kings became the first NBA team to accept bitcoin back in January. Like the Quakes they also cited the close proximity of Silicon Valley as one of the reasons behind the decision.
Sacramento Kings Become First NBA Team to Accept Bitcoin
The Sacramento Kings NBA franchise has officially announced plans to accept bitcoin for products including tickets, jerseys, hot dogs and beer, beginning 1st March. The team says it will accept the currency online and at the Sleep Train Arena, its home stadium.
Georgia-based payment service provider BitPay revealed that it will process the team’s transactions, adding to its network of 10,000+ bitcoin-accepting merchants. Vivek Ranadivé, owner of the Sacramento Kings, said:
“We are maniacally focused on creating the most seamless experience for our fans in all facets. With BitPay, we are able to implement a technology that allows our fans to make Kings-related purchases without physically reaching into their wallets.”
This statement was echoed by Tony Gallippi, BitPay’s co-founder and CEO, who said: “The Kings marketing team came to CES last week and were very curious about bitcoin.”
“For several years BitPay has been investing in events like CES to introduce people to the amazing technology that is bitcoin. We are thrilled that the Kings could implement bitcoin so quickly,” he added.
The announcement quickly reverberated through the financial world, with The Wall Street Journal calling it “an important step in the virtual currency’s bid to achieve mainstream acceptance.”
Tipping Point
In an interview with the media outlet, Ranadivé, a native of Mumbai, India, was outspoken about his support for bitcoin and its ability to enable spending.
The 56-year-old CEO and founder of TIBCO Software said he expects other NBA franchises to follow his lead, and detailed how bitcoin acceptance is part of a larger plan that seeks to grow his team’s global fan base through the use of technology. Sacramento Kings coaches have recently begun to use Google Glass to observe games.
Ranadivé said the franchise does not plan to exchange the bitcoins it receives for fiat currency. Rather, he said he believes the currency’s recent volatility will eventually dissipate and that bitcoin transactions and trading will become more common with time.
Silicon Valley And Beyond
Sacramento, with its close proximity to bitcoin-friendly Silicon Valley, may be the right target area for such a test – as other markets may not be able to rely on a similarly large bitcoin customer base.
While the Kings are the first major US sports franchise to accept bitcoin, this isn’t the first time that the bitcoin and athletic worlds have crossed.
In December, one sports fan received $20,000 simply for waving a bitcoin sign on national cable network ESPN, demonstrating the spending power of bitcoin-supporting sports fans.
Additionally, other sports teams are experimenting more broadly with mobile payments at stadiums. MasterCard has hinted at plans to test in-stadium mobile payment apps, while the Atlanta Falcons partnered with NCR on a similar initiative back in September.
Bitcoin integration at the team’s Buck Shaw Stadium will take place on 25th May, in time for the Earthquakes’ match with Houston Dynamo. Coinbase is acting as the stadium’s bitcoin payments processor, leveraging the exchange’s tablet app to accept payments.
Team President Dave Kaval told CoinDesk that the the organization became interested in bitcoin thanks to nearby Silicon Valley’s strong association with the digital currency, saying:
“We felt that, talking to a lot of our fans, especially in Silicon Valley, there were people who had inquired about whether or not we actually accepted bitcoin in the stadium. That kind of fed off inquiries on our side.”
Bitcoin Rollout
San Jose EarthquakesThe Earthquakes are planning on integrating bitcoin payments at a number of key areas at Buck Shaw Stadium. Game attendees can use bitcoin to buy tickets at the box office and additionally will be able to pay for concessions at certain locations and buy merchandise at the stadium gift shop.
Kaval said that while not every point-of-sale terminal will be ready to accept bitcoin on 25th May, he said that more support will be added soon after.
He noted that the Earthquakes team is expecting a strong turnout for bitcoin-using customers, saying that many people in the area are familiar with digital currencies and are looking for opportunity to spend their bitcoins:
“I think we’re gonna have more people than we think. I think it will attract a lot of new fans and people.”
Entertainment Role
Kaval suggested that, like credit cards, bitcoin could easily be integrated as an alternative payment method at sports arenas and and other entertainment centres, adding that it’s a matter of allowing the technology to catch on with consumers:
“If you think back to the ’80s or early ’90s, you would go to a lot of places and they wouldn’t accept credit cards. Especially concerts and things like that – it was all cash. So think about how far that’s come.”
Kaval went on to say that integrating bitcoin enables entertainment venues to tap into payment methods that are easiest for customers. Otherwise, venues run the risk of failing to capitalize on that nascent demand.
Other sports clubs have adopt bitcoin as a form of payment this year. In March, Polish soccer club GKS Katowice announced that fans could use bitcoin to pay for tickets and buy merchandise.
At the start of the year, the Sacramento Kings became the first NBA team to begin accepting bitcoin payments. The franchise later opened a bitcoin-only online store.
San Jose Earthquake's Fans Can Pay For their Tickets With Bitcoin
The San Jose Earthquakes, a soccer club from California, is banking on the growing popularity of bitcoin in Silicon Valley as it prepares to launch bitcoin payments at its stadium box office, concession stands and gift store.
Bitcoin integration at the team’s Buck Shaw Stadium will take place on 25th May, in time for the Earthquakes’ match with Houston Dynamo. Coinbase is acting as the stadium’s bitcoin payments processor, leveraging the exchange’s tablet app to accept payments.
Team President Dave Kaval told CoinDesk that the the organization became interested in bitcoin thanks to nearby Silicon Valley’s strong association with the digital currency, saying:
“We felt that, talking to a lot of our fans, especially in Silicon Valley, there were people who had inquired about whether or not we actually accepted bitcoin in the stadium. That kind of fed off inquiries on our side.”
Bitcoin Rollout
San Jose EarthquakesThe Earthquakes are planning on integrating bitcoin payments at a number of key areas at Buck Shaw Stadium. Game attendees can use bitcoin to buy tickets at the box office and additionally will be able to pay for concessions at certain locations and buy merchandise at the stadium gift shop.
Kaval said that while not every point-of-sale terminal will be ready to accept bitcoin on 25th May, he said that more support will be added soon after.
He noted that the Earthquakes team is expecting a strong turnout for bitcoin-using customers, saying that many people in the area are familiar with digital currencies and are looking for opportunity to spend their bitcoins:
“I think we’re gonna have more people than we think. I think it will attract a lot of new fans and people.”
Entertainment Role
Kaval suggested that, like credit cards, bitcoin could easily be integrated as an alternative payment method at sports arenas and and other entertainment centres, adding that it’s a matter of allowing the technology to catch on with consumers:
“If you think back to the ’80s or early ’90s, you would go to a lot of places and they wouldn’t accept credit cards. Especially concerts and things like that – it was all cash. So think about how far that’s come.”
Kaval went on to say that integrating bitcoin enables entertainment venues to tap into payment methods that are easiest for customers. Otherwise, venues run the risk of failing to capitalize on that nascent demand.
Other sports clubs have adopt bitcoin as a form of payment this year. In March, Polish soccer club GKS Katowice announced that fans could use bitcoin to pay for tickets and buy merchandise.
At the start of the year, the Sacramento Kings became the first NBA team to begin accepting bitcoin payments. The franchise later opened a bitcoin-only online store.
Monty Henry, Owner
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