The article below was written by Aram Leighton and posted on on March 5, 2021, under the category Bitcoin and Crypto, and is just another example of the adoption of cryptocurrencies by mainstream companies.

Every new product or new innovation goes through the technology adoption life cycle

  • innovators – the creators of new products or services
  • early adopters – the first to use a new product or service, and profit from its use
  • early majority – represents the first stage of mass adaption of a product or service
  • late majority – represents the second stage of mass adopters of a product or service
  • laggards – the last portion of society to adopt a product or service and profit the least from its widespread acceptance

The above is my take on the technology life cycle and not the official version

Bitcoin has been around since 2008.

Bitcoin has led to the production of over 8,600 other cryptocurrencies.

There is a good case for it being in the “Early Adopters” phase of the technology life cycle while it seems innovators are creating a new cryptocurrency every day.

However, Bitcoin will have a limited number of coins, and with over 18 million of the total 21 million that will be created in circulation. You can see why there may be so much money flowing into Bitcoin and cryptocurrencies from institutional investors.

Never get into cryptocurrencies because a celebrity or mainstream company endorses or purchases a specific cryptocurrency. Use it as a reason to conduct your own due diligence so you may make an educated decision instead of an emotional guess about where to put your money.

Read the article below, leave a comment, and subscribe to my blog so that you can be notified when new content is posted.

The article below can be found at the following website:

https : // theboardroom . tv /the-nba-is-embracing-blockchain/

remove the spaces

NBA Owners


The NBA Is Embracing Blockchain

The NBA, and more importantly — team owners — are all in on blockchain and looking to take advantage of digital asset licensing, alternative blockchain-driven business models, and the acceptance of cryptocurrencies.

The league has recently created a Blockchain Advisory Subcommittee comprised of many of its billionaire owners, including Mark Cuban ( Dallas Mavericks) and Joe Tsai (Brooklyn Nets). The goal? To explore ways to integrate blockchain across the league’s business. Other members include Ted Leonsis, Steve Pagliuca, Vivek Ranadive, and Ryan Sweeney.

The Mavs recently announced they would begin accepting Dogecoin as a method of payment for tickets and merchandise. The cryptocurrency started somewhat as a joke but has taken off in part with the support of Elon Musk, Snoop Dogg, and other big names.

Mark Cuban’s Mavericks were one of the first NBA teams to allow cryptocurrency as a payment method when the team started accepting Bitcoin in 2019. Despite the crypto’s meme origins, Cuban praised it for its educational value. 

The Mavericks also accept payments via Ethereum and other cryptos through BitPay, a cryptocurrency payment processor. Dogecoin has jumped by more than 800$ to date and saw a boost of 25% in one day when Elon Musk tweeted this photo:

Meme cartoon of a Shiba Inu dog oin the moon in a space suit holding a flag that says "doge wow," indicating that the blockchain cryptocurrency Dogecoin will be going to the moon.

While Dogecoin may have more meme value than intrinsic value, the crypto market cap has now reached right around $10 billion. The moon may be within reach. 

103 thoughts on “Why Are NBA Owners Embracing Cryptocurrencies

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