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Mark Cuban’s Mavericks will accept Dogecoin for Tickets and Merchandise


Cryptocurrency

Mark Cuban’s Mavericks will accept Dogecoin for Tickets and Merchandise

Mark Cuban’s Dallas Mavericks will begin accepting Dogecoin for the purchase of tickets as well as merchandise. Dogecoin, also known as meme coin, saw a significant surge in the price last month when Elon Musk tweeted about it. The coin was formed on a popular meme of Shiba Inu in 2013, has a current market cap of $7 billion.

“Sometimes in business, you have to do things that are fun,” Mavericks owner Mark Cuban said in a statement. “Because we can, we have chosen to do so.” Cuban also joined Musk in popularizing the coin by praising the coin for its entertainment and educational value. Unlike other crypto coins who sit in the top 10 based on their market cap, Dogecoin is not technically sound and is primarily used as a tipping system on Reddit and Twitter, and other sites for sharing good content. The developers of Dogecoin haven’t made any significant changes to the coin since 2015.

BitPay Inc., a cryptocurrency payment service, announced the new payment option in a press release. It said that it believed the industry was “reaching an inflection point that will forever change consumer confidence, trust and pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.” Mavericks was one of the few adopters of Bitcoin as it started accepting Bitcoins for game tickets and merchandise back in 2019. The NBA team also accepts Ethereum and other cryptocurrencies.

 


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