Ohio-based professional basketball team the Cleveland Cavaliers, along with its associated esports club Cavs Legion GC, have partnered with the cryptocurrency firm UnitedCoin.
The National Basketball Association announced the new partnership in a press release on July 15.
The partnership will reportedly be used to advertise UnitedCoin and provide the Cavs with an inroad to the fintech sector via cryptocurrency.
For the Cavs, one aspect of this partnership will reportedly be LED signage inside Rocket Mortgage FieldHouse during Cavs games.
The Cavs Legion will reportedly advertise UnitedCoin as its "Official Cryptocurrency Partner." Within NBA 2K, this means that UnitedCoin will be displayed on the team's in-game home court.
The Cavs Legion will also put UnitedCoin's brand on social media, as per the announcement.
According to the press release, UnitedCoin includes a service to transact with both fiat money and cryptocurrencies via phone or email.
As per its website, UnitedCoin is registered with the United States Securities and Exchange Commission and is still in an early-access phase.
According to its whitepaper, UnitedCoin employs a new type of consensus algorithm and chain structure that purportedly solves some problems with traditional blockchains.
As previously reported by Cointelegraph, the Miami Dolphins announced on July 11 that Litecoin is the team's "Official cryptocurrency." The team will set up home stadium kiosks to let fans participate in their 50/50 raffle with cryptocurrencies.
Cleveland Cavaliers Partner With Cryptocurrency Firm UnitedCoin
gepubliceerd op Jul 15, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.