Sacramento Kings to Accept Bitcoin

The Sacramento Kings are now led by software developer Vivek Ranadive and the new owner is helping to usher the franchise into the era of technology.

The Kings are set to become the first professional sports team to accept Bitcoin. For those unfamiliar, bitcoin is a peer-to-peer payment system that was introduced in 2009. The virtual currency uses cryptography in order to control the creation and transfer of money.

Bitcoin received some unwanted publicity for its ties to the Silk Road, however, the relatively unknown commodity has seen an increase in usage, in part due to the fact that the currency’s transaction fees are lower than the two-to-three percent that is usually imposed by credit card processors.

Starting March 1st, Kings fans can use bitcoin in order to purchase merchandise or buy tickets.

Ranadive spoke to ESPN.com about the franchise’s revolutionary decision. “When I sold the NBA on keeping the team in Sacramento, my pitch included using the sports franchise as a social network to push the technology envelope.”

Sacramento’s innovative owner is also having the team experiment with Google Glass, a device that features a small  computer mounted on to an eyeglass frame. Ranadive believes that this will not only enhance fans experience but that it can even be used to help aid coaches during games.

The Kings once bleak future is now bright for more reasons than the renaissance that is beginning to take place on the court.

Sacramento is 14-23 but the team has won four of its last five games.

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