American professional football team the Miami Dolphins announced that Litecoin is now the team's official cryptocurrency, according to a press release on July 11.The Miami Dolphins and Litecoin have also partnered with Aliant Payments, a crypto merchant services and payment processing firm, to enable crypto payments for the team's upcoming 50/50 raffle, which reportedly donates half of its revenue to charity.
Cryptocurrency users will reportedly be able to buy raffle tickets with LTC and Bitcoin, and can do so online or via in-stadium kiosks at Hard Rock Stadium.
LTC and BTC are cryptocurrencies with similar technical underpinnings.
Bitcoin remains the number one cryptocurrency by market cap with a total MC of over $201 billion at press time, while Litecoin clocks in at fourth with a cap of over $6.37 billion, according to data provided by Coin360.
In addition to playing a role in the aforementioned raffle, Litecoin will reportedly be appear in Dolphins in-game branding and an array of advertisement opportunities.
"This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale."
As previously reported by Cointelegraph, Portuguese sports club SL Benfica opened up payments via cryptocurrency for tickets and merchandise in June.
The club partnered with cryptocurrency service Utrust to facilitate this new payment option.
SL Benfica now accepts Utrust's native token as well as BTC and Ether as payment options.
Miami Dolphins to Endorse Litecoin as Team's Official Cryptocurrency
Published on Jul 12, 2019
by Cointele | Published on Coinage
Mentioned in this article
Research finds Bitcoin and Litecoin halvings do not impact price
Contrary to the popular media narrative, new research finds that Bitcoin and Litecoin prices are unimpacted by block reward halvings.
Libra's Biggest Problem
Among the barrage of commentary accompanying the Libra circus on Capitol Hill last week was a single short tweet from lawyer Marco Santori that summed up the core problem confronting Facebook's cryptocurrency project - and, for that matter, any corporate-led effort of its kind.
Crypto and FB's Libra Are Bridges to a Bitcoin World, Says Tim Draper
Bitcoin will be the ultimate benefactor from interest in Facebook Libra and cryptocurrencies, billionaire Tim Draper has said.
Craig Wright's misinformed attempt at scaling Bitcoin, BSV frivolously increasing block size to 2GB
In Craig Wright's latest marketing attempt, Bitcoin SV will increase its block size cap from 128MB to 2GB. The upgrade will make BSV less secure, more centralized, and more costly for infrastructure providers to maintain.