Dogecoin continues to move beyond the idea that it is simply a meme token. The Dallas Mavericks announced that they will be accepting the crypto as payment for tickets and merchandise.
The Mavericks of course, are owned by noted crypto enthusiast Mark Cuban. The owner told DealBook that they decided to take this step simply, “Because we can!”
Cuban added, “Sometimes in business, you have to do things that are fun, engaging, and hopefully generate a lot of PR.”
This is not the first time the Dallas Mavericks have delved into the cryptocurrency realm. In May of 2019 the team announced that they would be accepting Bitcoin as payment. In a statement then, the team noted it was “to offer the Dallas Mavs’ global fans a seamless experience to purchase merchandise.”
Dogecoin Payments for Dallas Mavericks Processed By BitPay
As is the case with Bitcoin, all Dogecoin payments will be made through BitPay, a cryptocurrency payment processor.
Cuban has notably taken an interest in Dogecoin recently, often taking to Twitter to reveal his sentiments. Most recently, the Shark Tank host tweeted about buying Dogecoin in order to teach his son about investing.
Dogecoin received a big boost earlier this week thanks to ATM company CoinFlip. On Monday the company tweeted that fans of the crypto can now buy the cryptocurrency with cash at any of its 1,800 locations nationwide.
Dogecoin has been on a steady rise over the past few months and is up more than 800% in 2021.
The crypto was famously created as a joke in 2013, and features a Shiba Inu as its mascot. It has gotten a ton of attention however, thanks to celebrity involvement, most notably from Elon Musk. A February Musk tweet caused the price of the crypto to rise 25%.
At its peak, Dogecoin’s market valuation hovered around $10 billion, making it more valuable than companies such as Grubhub, Wendy’s, and Harley Davidson.