Rooted in Dallas, the Mavericks have gone public to share that they're setting a precedent in the NBA by accepting Dogecoin. accept Dogecoin as a payment method , paving the way for cryptocurrency enthusiasts and fans to snag their tickets and team swag using this highly talked-about digital coin.
This bold move springs from BitPay's recent green light for Dogecoin transactions, expanding the scope of their crypto payment options.
Stephen Pair, the head honcho at BitPay, captured attention by highlighting the team's foresight:
“The Dallas Mavericks are pioneers in the crypto space, opening doors to innovative sales opportunities for their international pack of Mavs Fans For Life. BitPay’s vision sees the tide turning as crypto becomes mainstream, reshaping how consumers think and revolutionizing blockchain transactions across the board.”
For over two years, the Dallas Mavericks have been pioneers in embracing Bitcoin, and now with an array of cryptos including BCH, ETH, USDC, GUSD, OAX, BUSD along with the newest addition, DOGE.
Cuban is Hot for Dogecoin
Mark Cuban, a key stakeholder in the Mavericks, has openly cheered for cryptocurrencies, believing that “the technology's here to stay” and holds the promise of upending traditional markets by easing transactions.
In previous insights, Cuban likened the crypto craze to the early days of the internet, saying that those rallying behind crypto have a quirky, early-internet pioneer spirit.
In a splash earlier this year, the Mavericks hit the headlines when Cuban unveiled his very own NFT series called “The RollUp 2021,” which fetched a top offer equal to $10,813.65 in WETH.
https://twitter.com/mcuban/status/1354498247700709388
Dogecoin’s Fame Keeps Surging
Although launched as a parody inspired by the viral Shiba Inu “Doge” meme.
Yet even with its humorous roots, thanks to high-profile endorsements like those from Elon Musk, Dogecoin shot up the crypto ranks.
Having seen its price soar to a record $0.083947 on February 8th, DOGE is holding the 14th spot in crypto rankings based on CoinGecko’s metrics, boasting a surge of over 1900% in the past year.
Earlier this month, CoinFlip, a well-known ATM provider, revealed that their network of 1800 machines would enable Dogecoin purchases, further expanding its practical uses.
While the embrace of DOGE grows in crypto circles, some financial minds like Michael Novogratz caution that teams like the Mavericks might err in adopting DOGE, not due to its nature as crypto but because of the perceived risks to newbie investors.
He referred addressing Cuban's decision in a chat with Bloomberg TV, Novogratz remarked:
“Let's guide people towards the best stable options, not whimsical coins. I think Mark's off the mark here; he could offer 15 better ways for ticket transactions.”
The Power of Meme Culture
Meme culture has left an indelible mark on internet communities in recent years.
Originally gaining traction on obscure digital hangouts like 4chan and Something Awful, memes now play a pivotal role in internet communication across the globe.
As championed by Richard Dawkins in “The Selfish Gene”, memes operate like viral snippets, enabling communication across networks in a uniquely viral way.
With their growing influence in pop culture, memes serve as strategic tools for governments, brands, and communities, rallying people around common causes.
In a storied recent event, Reddit's WallStreetBets rallied together to push up GameStop's stock, costing hedge funds a fortune while netting windfalls for ordinary internet investors and ushering in regulatory scrutiny.
Just as other internet phenomena, Dogecoin’s journey from meme to mainstream is fueled by the irony and subtlety they represent, morphing into a tangible project with concrete applications.
Ultimately, the value attributed to any currency hinges on having people who believe in it.
