The Tennessee Titans will be the first NFL team in the league to accept cryptocurrency payments, according to emerging reports. While details are limited, it is now known that the club will be using a third-party payment provider to enable larger recurring purchases via Bitcoin.

Exactly who that payment provider is, whether other crypto-token payments will be supported now or in the future, and a timeline for such support (as well as potential timelines for broader support for simpler transactions like game tickets) are unknown. ). Nonetheless, it’s still substantial news for a league that has historically been hesitant to allow crypto integration.

The NFL opening?

In recent weeks, new reports have emerged that the NFL would be easing its restrictions around cryptocurrency deals for clubs, keeping some gates involved; While teams could now form crypto partners, there would still be restrictions around stadium signage and the length of the deal (capped at three years). Nonetheless, this still showed a sign that the league was heating up for crypto-related deals. To date, the NFL has sought a more rigid stance on cryptocurrency deals, relative to most other leagues, which have engaged through a variety of sponsorship channels, from league-wide deals to sponsorships. of individual team jerseys.

For the Tennessee Titans, while the Bitcoin-backed payments functionality will only be available for large, recurring payments, the team has expressed a desire to have payment support for everything from tickets to merchandise to in-game food and beverage. Nonetheless, the move still secures the Titans as the first NFL team to accept crypto payments in any capacity. In the short term, expect major payments for things like season tickets, suites, etc. be the main crypto-related income for the team.

The adoption news has not affected the BTC charts. | Source: BTC-USD on TradingView.com

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Tennessee Titans join shortlist

The Tennessee Titans join an exceptionally short list of professional teams in the ‘big four’ of sports leagues (NFL, NBA, NHL and MLB) that accept crypto payments; The MLB’s Oakland Athletics and the NBA’s Dallas Mavericks and Sacramento Kings are the only major league clubs in the US.

Expect this list to continue to grow, particularly as broader industry partnerships come to life, like the recently announced Strike & Shopify deal. As crypto payments continue to see wider adoption, and crypto exchange and blockchain technology sponsorship deals continue to grow and evolve, there are an increasing number of clubs and even leagues that feel like there is a piece of the pie. that they are missing. on.

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Featured Image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.



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