NYDIG partners with Houston Rockets basketball franchise, plans to pay team in BTC

Published at: Nov. 16, 2021

The New York Digital Investment Group will be paying the National Basketball Association’s Houston Rockets franchise in Bitcoin as part of a partnership aimed at promoting crypto education and adoption.

In a Nov. 16 announcement, the Houston Rockets said the New York Digital Investment Group, or NYDIG, would become the team’s official Bitcoin (BTC) services partner and platform. As part of the partnership, NYDIG is planning to name some of the Rockets’ premium seating at the Toyota Center in Houston the ‘Bitcoin Suites.’

The deal with the NYDIG seems to be part of a larger strategy for Rockets owner Tilman Fertitta, who is also chairman and CEO of Landry’s Restaurant Group. Last week, the company announced it would be introducing a BTC rewards program for its restaurants and is already rolling out BTC payment options.

Through Landry’s and other ventures, Fertitta, worth an estimated $6.3 billion, also owns a few hotels and five casino resorts across the United States. There have been no reports of BTC or other cryptocurrencies being accepted at these venues at the time of publication. However, in June, Fertitta said his holding company planned to start validating blocks on the Akash Network.

Related: Dallas Mavericks fan wins $100K in Bitcoin at NBA shootout event

This year the crypto space has seen many major basketball franchises in the U.S. partner with companies dealing with digital assets and blockchain technology. In October, Voyager Digital inked a deal with the Dallas Mavericks in an aim to make crypto more accessible through fan engagement. Coinbase also recently signed a multiyear sponsorship contract with the NBA to be its exclusive crypto platform partner.

Tags
Related Posts
Heavyweight champ to take 50% of his UFC 270 purse in Bitcoin
UFC heavyweight title holder Francis Ngannou has announced he will take half of his UFC 270 prize purse in Bitcoin (BTC) via Cash App. The French-Cameroonian MMA fighter will take on the undefeated Ciryl Gane on Jan. 23 and is set to earn a guaranteed $750,000. In a tweet published on Jan. 18, Ngannou noted that: "After doing a lot of research on Bitcoin, I really believe it is the future of money, man. Bitcoin is valuable, secure, and no one can mess with it." The event will take place inside the 18,000+ capacity Honda Center in Anaheim, California. In …
Bitcoin / Jan. 19, 2022
Tom Brady and Gisele Bündchen take equity stake in FTX crypto exchange
Seven-time Super Bowl champion Tom Brady and Brazilian supermodel Gisele Bündchen are the latest celebrities to reaffirm the growing adoption of the cryptocurrency industry. West Realm Shires Services, FTX Trading Limited and Blockfolio, three companies behind major global cryptocurrency exchange business FTX, announced Tuesday a long-term partnership with Brady and Bündchen. As part of the deal, the legendary football player and model will each take equity stakes in FTX Trading and will receive crypto. Brady will serve as an ambassador for FTX, while Bündchen will take on the role of FTX’s environmental and social initiatives advisor, working on initiatives to …
Adoption / June 29, 2021
Rams player Odell Beckham Jr. will accept NFL salary in Bitcoin
Odell Beckham Jr., wide receiver for the Los Angeles Rams football team, has said he will be taking all of his $4.25 million National Football League salary in Bitcoin. In a Nov. 22 post to his Twitter account, Beckham said he would be partnering with Cash App to take his next NFL salary in Bitcoin (BTC). National Insider reporter Ian Rapoport said earlier this month that Beckham would be earning a $750,000 base salary on top of a $500,000 signing bonus in addition to $3 million in other incentives, totaling $4.25 million for the 2021 season. It's a NEW ERA …
Bitcoin / Nov. 22, 2021
NFL star's massive tax bill highlights problems with BTC salaries
NFL Star Odell Beckham Jr's (OBJ) decision to take his $750,000 salary in Bitcoin appears to have cost him dearly due to the market crash after he signed the deal. Owing to the vagaries of cryptocurrency tax laws and current prices, OBJ is estimated by some to have made 61% less than if he’d taken his salary in fiat. The loss has highlighted the tax complications from receiving a salary or yield in cryptocurrency as crypto investors have to pay tax on the amount it's worth when it was received, not what it's worth when they lodge their tax return. …
Bitcoin / Jan. 26, 2022
Houston Texans becomes first NFL team to sell game suite with crypto
National Football League (NFL) team Houston Texans has become the first organization in the league to sell single-game suites in exchange for crypto. The move comes as part of a deal with Texas-based crypto firm bitWallet, which as of Aug. 16 became the official crypto wallet provider for the team. bitWallet will also provide intermediary services by exchanging crypto for cash for the Houston Texans. According to an announcement from the Houston Texans, local digital marketing agency EWR Digital made the first single-game suite purchasing using crypto shortly after the offer launched, making it the first time a game suite …
Business / Aug. 17, 2022