• Loading stock data...
Thursday, February 22, 2024
Register Now for Future of Sports: Cybersecurity

Miami Dolphins’ Partnership With Litecoin Gives Fans More Options

  • Fans can pay with cryptocurrency throughout Hard Rock Stadium
  • Litecoin, the sixth-largest cryptocurrency, is the official cryptocurrency of the Dolphins
Sep 22, 2019; Arlington, TX, USA; Miami Dolphins fan waves a flag prior to the game against the Dallas Cowboys at AT&T Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
Sep 22, 2019; Arlington, TX, USA; Miami Dolphins fan waves a flag prior to the game against the Dallas Cowboys at AT&T Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
This article is part of a new FOS article series sponsored by Bittrex examining new interesting implementations of cryptocurrency in the world of sports.

The usage of cryptocurrency by the general public is still far from universal, but that’s not stopping teams from accepting payments at an increasing speed.

For the most part, teams have started accepting cryptocurrency as a way to offer their fans more options, without any expectations. The Dallas Mavericks and Sacramento Kings, are just two of the many teams who have taken steps into the worlds of cryptocurrency and blockchain. As more teams adopt some form of cryptocurrency, the hope for those involved is awareness will continue to spread and adoption will increase.

Before the current NFL season, the Miami Dolphins announced they would accept cryptocurrency payments, done in partnership with Aliant Payments and the Litecoin Foundation.

The partnership allows for game attendees to purchase 50/50 raffle tickets – which sends half the proceeds to the Miami Dolphins Foundation – both online and at 14 kiosks and raffle stations throughout Hard Rock Stadium using cryptocurrency. Along with the deal, Litecoin became the Dolphins official cryptocurrency.

“The Miami Dolphins are always looking for ways to enhance the fan experience, and this partnership with Litecoin provides the ability for guests to enjoy our 50/50 raffle while donating to a great cause,” Dolphins Vice President and Chief Information Officer Kim Rometo said.

As of October, Aliant reported 46 crypto transactions at the then-most recent home game. Since the partnership allowed crypto payments in the 50/50 raffle, the proceeds jumped from an average of $72,000 per game to $86,000.

As the official cryptocurrency, Litecoin also receives access to in-game branding and advertising at Hard Rock Stadium and online properties and digital content.

Aliant is a traditional payment processor that has integrated cryptocurrency payments into its merchant programs. At October’s Litecoin Summit, Aliant CEO Eric Brown hinted at talks with several additional professional sports teams. Brown suggested several baseball, football and basketball teams were potentially in line to start accepting cryptocurrency, including the heavy-handed hint of “America’s Team.”

“We’re talking to a couple of other teams,” Brown said. “We figured if we got one team in place, others would follow. We do feel it will be successful in rolling that out.”

The Kings started their Bitcoin acceptance in 2014 and the Los Angeles Dodgers hosted a crypto giveaway last fall, but, in general, it appears U.S. sports teams have been a bit slower to adopt than sports organizations overseas. 

In 2018, eToro signed an ad partnership with seven Premier League clubs, while CoinDeal had a jersey sleeve deal with Wolverhampton. The Dogecoin community helped send the Jamaican bobsled team to the 2014 Winter Olympics and also sponsored a NASCAR team.

As cryptocurrency continues to infiltrate the sports industry, educating fans as part of the partnership continues to be a major objective, particularly by the cryptocurrency companies in the deals. While Bitcoin is fairly ubiquitous and made its way into mainstream recognition, others such as Litecoin remain under the radar.

Litecoin is the sixth-largest cryptocurrency, with a price per coin of nearly $46 as of December 4. For reference, Bitcoin is nearly $7,500, as of December 4. The Dolphins noted that when the deal was announced Litecoin was gaining market share because it’s a cheaper, more readily available cryptocurrency.

While doing a partnership with a team isn’t driving major revenue for the cryptocurrency companies, it’s become a crucial pathway to get these payment methods in front of a wider audience that may have never otherwise heard of them. For example, the Litecoin Foundation partnered with UFC to help raise awareness through the display of the Litecoin logo on the canvas during the December 2018 fight between Jon Jones and Alexander Gustafsson.

“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,” Litecoin creator Charlie Lee, who is also the managing director of Litecoin Foundation, said.

“We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale,” he said.

Copy Link
Link Copied
Link Copied

What to Read

Sabrina-Steph Wasn’t the ‘Battle of the Sexes’—But It Was Part of the Bigger War

The competition could play a factor in increasing the WNBA’s media value.
NASCAR Cup Series driver Bubba Wallace (23), in a Star Wars rebel alliance X-wing fighter pilot-inspired race suit, motions to the crowd to get louder during the driver introductions for the Cup Series Championship race at Phoenix Raceway in Avondale on Nov. 5, 2023.

Celebrity Owners, International Ambitions, and $7B Media Deals: Welcome to the New NASCAR

NASCAR boldly keeps pace with the increasingly competitive sports and entertainment world.

Wilson Introduced an Airless Basketball for $2,500. We Had Questions

The black, 3D-printed ball appeared in last year’s Slam Dunk Contest.

Women Prove to Be a Powerful Force in Super Bowl LVIII Record Viewership 

Female demographics show strong viewership growth for the NFL’s title game.
podcast thumbnail mobile
Front Office Sports Today

The Company That’s Selling Inspiration


Featured Today

Emily Henegar, a baker and content creator, made a batch of NFL-inspired cookies featuring Taylor Swift and Travis Kelce.

The ‘Life-Changing’ Economy of Taylor Swift’s NFL Outfits

Appearing in Swift’s game-day wardrobe has been “life-changing” for small businesses.
February 11, 2024

Tom Brady’s Post-Retirement Embrace of Las Vegas

With business all over town, one partner says, ’He’s going to be a great addition to the city.’
Super Bowl
February 11, 2024

Does the Vegas Super Bowl Make Economic Sense? Depends Where You Get Your Figures

The game’s impact on an already bustling town is a thorny subject.
February 10, 2024

How Two EDM-Loving Dudes Reinvented the Super Bowl Party

The inside story—replete with tigers and billionaires—of Medium Rare.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Finance Manager
New York, NY
Senior Technical Artist - Sports Technology
EA Sports
Orlando, FL
Assistant Manager, Affiliate Operations
Portland, OR
The Adidas ball has changed over the years.

The Most Advanced Tech at the Women’s World Cup Might Surprise You

This year’s OCEAUNZ introduces connected ball technology to the women’s game.

Creating Fan-Centric Content With AI

WSC’s highlight automation improved the speed of ESPN’s content creation.

Rewriting the Sports Media Playbook

WSC’s highlight automation improved Clemson’s content strategy and overall growth.

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.

Re-Imagining Storytelling With AI

Amy Anderson, Head of Content Strategy at NASCAR Studios, discusses the role of AI technology in developing and growing new content.
Arial view of Audi testing track
December 4, 2022

Audi Gears Up for F1 with Major New Facility

Audi is building a 10,000 square-foot building to support its F1 efforts.
Woman wears Meta Quest headset while working out to have virtual reality exercise session
November 22, 2022

Meta’s Plans for VR Fitness Could Hit Snag

A government agency is looking to block an acquisition by Meta.
Nike phone advertisement
November 15, 2022

Nike Jumps Further into Metaverse With Virtual Sneaker Platform

The world’s largest sportswear company is taking its talents to the metaverse.