NBA Maverick Hands on Dogcoin: crypto assets are gradually accelerating into the mainstream

As one of the most well-known investors in the United States, Mark Cuban believes that dogcoin, while not the best investment in the world, is much better than the lottery, “It’s a great way to learn to understand cryptocurrencies.

This week, Dogcoin (DOGE) is on a roll again, hitting a 90% gain in 3 days to $0.695, another all-time high. Coincidentally, NBA Maverick owner Mark Cuban seems to have played the role of ‘Mr. Key’ by pushing Dogcoin on the US TV show ‘The Ellen Show’, further expanding Dogcoin’s popularity.

As early as March this year, the official store of the Mavericks announced the acceptance of crypto assets such as dogcoin and bitcoin, which fans can use to buy tickets and jerseys and other merchandise. Currently, the NBA Kings and Rockets also accept crypto-asset payments, and the Kings are even considering using bitcoin to pay players.

In fact, many NBA players are interested in the world of crypto-assets, and NBA star Durant has invested in Coinbase and has earned more than 60 times the return since its IPO. Dinwiddie, who plays for the Brooklyn Nets, has also invested all of his salary in Bitcoin, and thanks to its continuous rise, he could earn $84.5 million a year, almost twice as much as Curry, who is the top-ranked player in terms of salary.

The NBA has also delved into the NFT space. The Golden State Warriors, draft pick Zion and even retired basketball superstar Yao Ming have all combined the NFT concept with digital collectibles with team or personal elements. Star NFT collectibles have also been well received by the market, with a LeBron James star card selling for as much as $100,000.

The NBA’s love affair with crypto assets and the blockchain industry continues, with the influential top basketball league bringing a constant stream of energy to the emerging crypto world.

On the eve of DOGE’s surge, Lone Ranger owner pushes

On May 5, Dogcoin (DOGE) once again took a bright move, rising from an opening price of $0.529 to $0.695, an intra-day gain of more than 30%. During this week, Dogcoin opened at $0.358, hitting a 90% gain in just 3 days, once again illustrating the concept of “convincing people by rising”.

Dogcoin continues to climb to all-time highs, creating a slew of millionaires. 1 year ago, the market price of DOGE was only $0.0026, now it has doubled 267 times. This means that an investor who bought DOGE for $10,000 today last year could have $2.67 million in assets today.

Dogecoin’s surge was once again on the screen in various communities, and some veteran players who entered the circle early cried out “I can’t understand it”. In the past, Elon Musk, the “Iron Man” of Silicon Valley and founder of Tesla, has been promoting Dogcoin in his personal tweets, attracting a large amount of capital injection. This time, dogcoin is pulling up again, and new heavyweights have been added to its fans.

On May 3, prior to this violent surge, #NBA team owner, Mark Cuban, the owner of the Dallas Mavericks and one of the world’s top billionaires, topped Weibo’s trending list. Not long ago, he talked about dogcoin on the famous American TV show “The Ellen Show”, saying that dogcoin is the craziest story ever and that he and his son started investing in dogcoin when it was less than one cent, and its value has risen incredibly.

As one of the most well-known investors in the United States, Mark Cuban believes that dogcoin, while not the best investment in the world, is much better than the lottery and “it’s a great way to learn to understand cryptocurrencies.

Cuban even tried to convince Ellen DeGeneres, host of The Ellen Show, to embrace dogcoin by suggesting that the latter’s ‘Ellen Store’ consider using dogcoin as a payment method.

Apparently, Mark Cuban is open to crypto assets. According to foreign media reports, Cuban has long pushed the entertainment and educational value of dogcoin, and in March this year, he announced that Maverick fans could use crypto assets such as dogcoin and bitcoin to purchase merchandise such as game tickets and jerseys.

As an influential top tycoon and NBA owner, Cuban’s public push for crypto assets such as dogcoin has undoubtedly enhanced the popularity of dogcoin once again, contributing to DOGE’s surge higher to some extent.

NBA Multiple Teams and Players Embrace Crypto Assets
In fact, the NBA has a great affinity with blockchain and crypto assets. In addition to Cuban and his Mavericks, there are many teams and star players who have a love for crypto-assets.

On April 29, the Texas-based Houston Rockets announced on their official Twitter account that their official store supports BTC, BCH, ETH, DOGE, GUSD, USDC, PAX and BUSD as payment methods. Some fans in the comments section expressed their support, saying that this is a new and cool means of payment.

NBA Maverick Hands on Dogcoin: crypto assets are gradually accelerating into the mainstream

Houston Rockets accept payments in crypto assets like BTC

It is worth noting that earlier, Rockets owner Tilman Fertitta had said that all, or 80 to 90 percent, of his restaurant brands would plan to accept payments in Bitcoin or other crypto assets within 90 days. In addition, his luxury car dealership Post Oak Motor Cars has also been accepting bitcoin payments since 2018.

In addition to official stores accepting crypto-asset payments, some teams have even thought of paying players’ salaries in bitcoin. on April 6, Sacramento Kings team president Vivek Ranadivé revealed that the NBA Kings will be the first team to offer bitcoin payment options to all players and staff, Coindesk reported.

Back in 2014, the NBA team supported fans in buying everything from tournament tickets to hot dogs with bitcoin, and introduced reward tokens for fans in 2019.

Also with ties to the crypto-asset industry is the NBA Heat. In April, the NBA Heat officially announced that crypto asset trading platform FTX has been awarded the exclusive title rights to the Miami Heat’s main stadium for the next 19 years, which will be named FTX Arena going forward.

As the world’s premier professional basketball league, the NBA’s embrace of crypto assets is growing by the day. This is not only reflected in the fact that several NBA teams are accepting crypto asset payments, but also in the fact that some star players are investing in crypto assets.

On April 14 of this year, the crypto asset trading platform Coinbase successfully landed on Nasdaq, and according to media reports, NBA superstar Kevin Durant is one of the investors behind Coinbase. At the time of Durant’s investment, Coinbase’s market capitalization was $1.6 billion, and after Coinbase went public, its market capitalization once exceeded $100 billion, from which Durant gained 61.5 times of return.

The wealth effect of crypto assets has also been realized by another NBA player, Spencer Dinwiddie. He currently plays for the Brooklyn Nets and is not as well known compared to his teammate Durant, but he has become a winner in life with his investment in bitcoin.

In December 2018, Dinwiddie signed a three-year, $34.4 million contract, but unlike other NBA players, he insisted on investing all of his salary in bitcoin. Since the contracted salary was to be cashed out in installments, Dinwiddie also crowdsourced funds to buy bitcoin in advance by guaranteeing his contract. According to foreign media reports, his cost to purchase bitcoin was around $8,000.

Today, bitcoin has risen to $55,000, giving Dinwiddie a return on his investment of 687.5%. This year, his salary is $12.3 million, and if you take into account the increase in bitcoin, his annual income can reach $84.5 million. To put this in perspective, Stephen Curry, the NBA’s top salary earner this year, is only making $43 million a year, and Dinwiddie has achieved an “off-court comeback” by investing in bitcoin.

NFT has become the NBA’s favorite field

The NBA has not only opened its arms to crypto assets like bitcoin and dogcoin, but has also delved into blockchain products, and its combination with NFT (non-homogenized tokens) has created a lot of value.

Since the second half of last year, the NFT concept has become hotter and hotter, and NBA top shot, officially licensed by NBA, has become the star project in the NFT field. In NBA top shot, users can use crypto assets to purchase flashing moments or signature moves of various NBA stars, and these cards are presented in the form of NFT. Among them, a LeBron James (LeBron James) star card selling price up to 100,000 U.S. dollars.

Recently, the NBA Golden State Warriors launched a digital collection of events on OpenSea, auctioning off a large number of team-related memorabilia, including several Warriors’ championship rings NFT and commemorative ticket stubs NFT.

NBA Maverick Hands on Dogcoin: crypto assets are gradually accelerating into the mainstream

NBA Warriors launch NFT collection

In addition, NBA draft pick Zion Williamson (Zion Williamson) also recently collaborated with basketball magazine SLAM to launch NFT star cards. It is reported that the SLAM x ZION series will launch two kinds of baller cards, containing the basic version, gold version, gold signature version and 1/1 platinum signature version. NBA rookie Jalen Suggs also auctioned his “best moments” video NFT earlier, which attracted a group of fans to bid for it.

Notably, Chinese basketball superstar Yao Ming has also added NFT to his business map, and on April 26, Yao’s wine estate, YAO Family, launched a new wine brand, THE CHOP, and a limited-edition NFT collection, the first winery in the world to auction off a digital collection with NFT.

The NFT collection is currently being auctioned on the NFT trading platform Opensea at an average price of 0.22 ETH, with each NFT corresponding to a physical bottle of THE CHOP wine and accompanied by a certificate of authenticity signed by Yao Ming.

In the view of industry insiders, NFT with visualization features is an area where the NBA can more easily combine with blockchain. By launching various digital collectibles, NBA teams and players have more channels to realize their influence. At the same time, NBA has a large number of fans and attention in the world, and its acceptance of crypto assets and blockchain can make more people understand to know this emerging industry and accelerate the development process of the industry.

Posted by:CoinYuppie,Reprinted with attribution to:
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