On Monday, Ranadive Vivek, the CEO of Sacramento Kings revealed on Clubhouse that everyone in his organization can receive their salaries in Bitcoin. This was according to a tweet from a Clubhouse attendee, Neil Jacobs.
BREAKING: Chairman of the Sacramento Kings:
"I'm going to announce in the next few days that I'm going to offer everyone in the Kings organization, they can get paid as much of their salary in #bitcoin as they want, including the players." – @vivek@SacramentoKings
— Neil Jacobs (@NeilJacobs) April 5, 2021
It appears that the NBA is getting its feet deep into the crypto waters. From non-fungible tokens, which was introduced to the NBA by Dapper Labs in 2018, to the crypto investments by basketballers, team owners and so on.
Last week, Dapper Labs, the company behind NBA Top Shot announced it had just concluded a $305 million funding round led by Coatue. The investment round featured top NBA players like Kevin Durant and Klay Thompson, and high-profile personalities like Michael Jordan and Will Smith.
Vivek revealed on the Clubhouse that everyone in his organization – including the players and staff – can receive their salaries in cryptocurrency. The Clubhouse event was hosted by Tim Draper and co-hosted by Bruce Fenton.
Cuban Responds to Sacramento Kings Plan
According to the Sacramento Kings claim, they are the most crypto-forward organization in the whole sports world. In 2014, the Kings partnered with BitPay, a payment platform and began accepting Bitcoin as payment for commodities in the team’s store.
The Kings seems to have an eye for how crypto generally could transform the future of Sports. However, there is no news yet on how the payments will be made to the members of the organization. The plan to pay players in crypto could further strengthen the adoption of blockchain and other related products.
In response to the King’s move, Mark Cuban sneered that “paying in BTC doesn’t really do anything,” any player can buy any crypto with their salary.