Key Findings:
- The NFL’s Tennessee Titans are the first NFL team to accept Bitcoin (BTC) payments.
- US esports and bitcoin have a growing relationship, with leading players also accepting payments in bitcoin.
- The NBA’s Sacramento Kings were the first to accept payments in Bitcoin back in 2014.
The National Football League (NFL) and digital assets have a growing relationship, with leaders in the sport of American football having ties to digital assets.
As Bitcoin (BTC) adoption continues, more organizations are investigating the use of crypto, with US esports proving to be strong proponents of digital assets.
It was only a matter of time before NFL teams started accepting crypto payments and forging stronger ties to the digital asset space.
Tennessee Titans Become First NFL Team to Accept Bitcoin (BTC)
News broke overnight that the Tennessee Titans would become the first NFL team to accept Bitcoin for payments.
According to reports, the team will accept Bitcoin payments for large and recurring transactions. This includes bitcoin payments for season tickets and boxes. In the future, the team intends to accept bitcoin payments for merchandise, single tickets and F&B sales at the stadium.
Gil Beverley, Senior Vice President/Chief Marketing and Revenue Office reportedly said:
“At the Tennessee Titans, we always strive to be a technically advanced, innovation-driven, and data-driven company. The acceptance of Bitcoin is part of an overarching goal of making our fans our top priority and staying current with their needs and the demands of the market.”
According to the media, the team consulted with Bitcoin Magazine and UTXO Management to make it a reality.
The Tennessee Titans are an American football team based in Nashville, Tennessee. The team formerly called the Houston Oilers joined the NFL in 1970 and made it to Super Bowl XXXIV only to lose to the St Louis Rams.
US esports and digital assets see a thriving relationship
The Tennessee Titans aren’t the first US sports team to have ties to Bitcoin. Since 2014, the NBA’s Sacramento Kings have accepted bitcoin for tickets and merchandise. The team even went a step further in 2021 by announcing that team staff and players can opt for partial or full bitcoin salaries.
In March 2021, Major League Baseball (MLB) Oakland Athletics became the second major US sports team to accept bitcoin payments. The Oakland Athletics made it to the big screen in 2011 with the film Moneyball, which chronicled their 2002 season with general manager Billy Beane, played by Brad Pitt.
At the player level, top US sports players have also accepted bitcoin payments for salaries or endorsements.
Late last year, we reported on top NFL players accepting crypto salaries. Players included Aaron Jones, Aaron Rodgers, Odell Beckham Jr., Saquon Barkley, Sean Culkin, Tom Brady and Trevor Lawrence. Sean Culkin stands out from the list as he is the only player who takes his entire salary in BTC. Others exchange part of their salary or receive endorsements in crypto.
Russell Okung is believed to be the first NFL player to receive a crypto salary. In 2020, he reportedly received 50% of his salary in Bitcoin (BTC).
More teams and players are likely to accept bitcoin payments and salaries as the digital assets space and US esports forge closer ties. Major crypto exchanges are anchoring themselves in US esports, with platforms like Crypto.com becoming major sponsors.
Last November, Crypto.com paid over $700 million for the naming rights to the home of the NBA’s LA Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks. Formerly called the Staples Center, the stadium is now known as the Crypto.com Arena.
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