Dogecoin (DOGE) is a crypto that was created out of a joke. But, it is gradually gaining adoption in the real world with the Dallas Mavericks basketball team announcing that it is ready to accept DOGE payments for its merchandise and tickets.
The National Basketball Association outfit announced on March 4, 2021, that it has now become the first major business to accept DOGE, enabling users to change the digital currency to fiat using BitPay.
We're proud to be the first business to accept the #crypto Dogecoin for payment using BitPay! 🙌
— Dallas Mavericks (@dallasmavs) March 4, 2021
For nearly two years now, the Mavericks have been accepting Bitcoin (BTC) payments via BitPay. Notably, they were the second NBA team to begin accepting bitcoin behind the Sacramento Kings.
Furthermore, Maverick’s fans can also pay for merchandise using GUSD, Bitcoin Cash (BCH), BUSD, USDC, and PAX. Stephen Pair, the BitPay CEO, said that the NBA franchise is helping in paving the way for crypto adoption:
“BitPay believes that with continued cryptocurrency adoption, the industry is 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 owner Mark Cuban confirmed the news and highlighted his rationale to incorporate Dogecoin payments:
“It’s real. And why wouldn’t we take it? Our payment gateways support it. We will HODL any we get. And it’s great PR and fun to take it!”
The billionaire owner has previously flip-flopped on crypto but now seems to have embraced the digital asset class in recent weeks. He recently warned Peter Schiff that gold would eventually cease to exist as a store of value because innovations in crypto make it quite easy for people to become their bank.
In the case of Dogecoin, the crypto exploded in popularity earlier this year, and at some point, it surpassed bitcoin in terms of tweet volumes. All this surge happened after the same Reddit group that pumped GameStop shifted their efforts to DOGE. Elon Musk’s warm embrace of the meme-based coin also contributed to this surge.