NFL’s Houston Texans Now Accept Bitcoin Through BitWallet
"BitWallet is a perfect collaborator as we continue our efforts to move our organization forward in new and innovative ways,” Texans team president, Greg Gissom said in an official press release.
Just a few months after the NFL officially allowed crypto sponsorships, Texans fans now have the opportunity to purchase single game suites using cryptocurrency. BitWallet, a high-security crypto wallet for both individuals and businesses, will be the intermediary between the Texans and their fans.
BitWallet has partnered with other brands such as Baanx to provide them infrastructure to accept payments in crypto. Companies like BitWallet will prove crucial in crypto’s mass adoption because it allows for the currency to be used as a medium of exchange. Up until now, cryptocurrency has been used by most people as a store of value.
With nine-figure arena deals like the Crypto.com Arena, the NBA has been more trusting of crypto in comparison to the NFL. Per league guidelines, the Texans and BitWallet partnership must be three years or less and BitWallet’s logo cannot be displayed in the stadium.
While these measures may seem drastic, it makes sense that leagues are approaching crypto partnerships with caution given the fickle nature of the market.
Terra, the brand that houses the infamous $LUNA and $UST coins, collapsed just months after they inked a five-year partnership with the Washington Nationals, a Major League Baseball team. Even after the collapse and the onslaught of poor press that came with it, Terra’s logo is still plastered all over the Nationals ballpark.
Still, it’s encouraging to see the NFL slowly entering the world of crypto. EWR Digital, a digital marketing firm, has already purchased a Texans game suite using cryptocurrency. For now, only game suites are purchasable with Bitcoin, but there may be a future where other game assets can be purchased with crypto.