The world has been swept over by the cryptocurrency revolution and everybody wants to be a part of it - including professional sports leagues. Without a doubt, ventures into this field have seen results and the future looks promising for those who take their chances.

Sudden Interest in Cryptocurrency

Technically, cryptocurrency has been around for quite some time now but the traction it's getting recently is at an all-time high. The spike in interest is due to several reasons which we'll discuss in this section. 

First of all, cryptocurrency can now be used to purchase goods and services. Crypto transactions are digital-based and occur within just a few seconds. Sports teams have looked into using it mainly for its convenience and speed - two factors that are popular with consumers. 

Another reason is that the sports world has a worldwide reach and crypto trading companies and platforms want to take advantage of that. These companies are willing to pay a huge amount of money to teams who are willing to partner with them. These sponsorships are huge which is ultimately a win-win situation for both parties. 

On top of those, those who are part of the industry believe that it's a good investment in the long run. With that being said, a few are asking to be paid in Bitcoin and other popular currencies. 

Sports Teams that Embraced Cryptocurrency

The sports world has just recently started exploring this field of interest and there's no denying that it's changing their game. Although teams are relatively being careful with their decisions, it's not all that difficult for them to embrace cryptocurrency for several reasons. 

As mentioned in the previous section, the use of cryptocurrency can be convenient for several consumers. This convenience makes it reasonable for the American professional basketball team, Dallas Mavericks, and the collegiate team Victoria Harbourcats to accept cryptocurrency as a form of payment for tickets.

In another light, the English Football club Newcastle United FC has recently partnered with a crypto trading platform, StormGain to attract a new audience. StormGain's logo will be featured on the jerseys of players, easily publicizing said sponsors to a huge audience. 

Other teams have explored using it for charity, like the American basketball team Sacramento Kings. Said team has mined cryptocurrency to fund their Mining For Good program which aims to support years of scholarship programs. 

Currencies Being Used 

According to World Atlas last 2018, there are more than 4,000 cryptocurrencies available in the market - both old and new. The most popular of these is Bitcoin, with a value of about $8,000 per Bitcoin as of writing.

There are also several cryptocurrencies that also have high values. Among the more popular ones are Litecoin (LTC) at about $57, Ethereum (ETH) at about $179, and Zcash (ZEC) at about $37, as of writing.

The first two currencies mentioned are already being used by American football team Miami Dolphins and American baseball team Los Angeles Dodgers, respectively. For Victoria Harbourcats, tickets can now be bought with Bitcoin. 

Entering the world of cryptocurrencies can be quite a challenge, however, new players like the Fight to Fame project can now easily climb to the top. This particular player plans to offer pre-orders in over 100 countries and regions, making it widely accessible.

Into the Future

Now that sports leagues are exploring this digital innovation, it won't be long before cryptocurrency takes over the world of sports. The question now is who's willing to adapt to this fast-paced change.