Dallas Mavericks, which is owned by billionaire Mark Cuban, has successfully established a reward cashback program to incentivize merchandise and ticket payment in Dogecoin.
In a September 3 official site publication, Dallas Mavericks confirmed unveiling a new reward program dubbed “Mavs Cryptomania.” The new reward program will enable the Mavericks fans to receive an e-gift card worth $25 after spending at least $150 worth of Dogecoin in one transaction.
The Mavericks fans will use the newly acquired reward e-gift cards for online purchases in the team’s shop, with the program scheduled to end on September 30.
At the time of publishing, Dallas Mavericks users only need to spend about 505 DOGE to receive the e-gift card.
The Mark Cuban-owned franchise started accepting DOGE payments in March 2021. Initially, Dallas Mavericks emerged as the first-ever NBA team accepting Bitcoin (BTC) payments for tickets and merchandise back in 2019.
On several occasions, Mark Cuban has confirmed his full support for DOGE, particularly this year, since the meme coin started as a joke in 2013. In April 2021, Cuban warmly embraced Dogecoin asserting that it is becoming a digital currency due to an increased adoption rate.
In the following month, the billionaire investor published a report stating that Dogecoin had outperformed other crypto assets in terms of merchandise purchases. He noted:
“We sell more Mavs merchandise for DOGE on a typical day […] than we did in a year with BTC or ETH.”
Cuban has also emerged as a prominent figure in the entire crypto space and blockchain tech in 2021. The Billionaire investor has backed various crypto and blockchain projects including, Ethereum-based scaling solution Polygon, NFT protocol Alethea AI and NTF marketplace provider Genius.
Furthermore, Cuban publicly refuted Donald Trump’s latest FUD claims that suggested Bitcoin and cryptocurrencies were a “disaster waiting to happen,” which reportedly left crypto market prices crashing by nearly 50%.
While airing his opinion on September 2, Bill Ingram, a senior analyst at NBA, stated:
“I’m not one to agree with the former president on much of anything, but I have long wondered whether we really need another form of currency that only has a pretend value because some group of people decides to pretend it does.”
Nonetheless, Cuban responded to Ingram urging him to think of crypto assets as “currencies” as he emphasized the underlying tech advancements that drive the sector:
“Think of them as decentralized, secure, networked platforms with features that allow for the development of apps that can have unique utility for individuals and businesses.”