Cuban will allow fans to use Dogecoin for ticket and merchandise purchases at Mavericks game.
Owner Mark Cuban told DealBook Thursday that he and his basketball team decided on this, "because we can!" The billionaire entrepreneur added: "Sometimes in business, you have to do things that are fun."This isn't the first time the team is accepting cryptocurrency as payment. In May 2019, the team began accepting bitcoin "to offer the Dallas Mavs' global fans a seamless experience to purchase merchandise." Like bitcoin, dogecoin transactions will be done through BitPay, a cryptocurrency payment processor.The legendary investor and Shark Tank host has taken an interest in dogecoin, often making his sentiments public through Twitter. Most recently, he tweeted about buying dogecoin to teach his son about investing.
What the hell is Dogecoin? Per The Hustle, here's a breakdown:
Dogecoin was created as a joke in 2013. Invented by software engineers Billy Markus and Jackson Palmer, the cryptocurrency was based on the dog from the “doge” meme.This market cap of this “joke” coin was worth less than $100m at the end of 2020. The coin has since exploded in value -- today worth $6.5B.
