European football giant Benfica reported that they will start accepting payments in bitcoin and Ethereum. Supporters of the Portuguese Primera Liga champions can now pay for the match tickets and club products with cryptographic money.
This isn’t the first time that the football world has played with digital currency, however, it is the first instance when it has been acknowledged as a payment method.
In the past, Italian football club Juventus played around with the idea of its own club token. Football supporters were even ready to pay bitcoin for match access during 2018 World Cup in Russia – in spite of the fact that was a unique case.
Digital currencies can now be utilized around the Estádio da Luz – Benfica’s home ground. The abrupt move came because of UTRUST, a crypto installments handling firm which likewise uses its own ETH-based token, UTK.
As indicated by Wednesday’s official statement:
“UTRUST’s core technology will allow Benfica to take advantage of the increased security and convenience of cryptocurrency payments while protecting the club from market volatility. It will also significantly reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments.”
Benfica CEO Domingos Soares de Oliveira said the choice to acknowledge crypto installments originated from an acknowledgment that the club must “remain on top of things,” adding:
“[We] recognize that many of our supporters are now digital users first so we want to be ahead of the curve when it comes to accepting novel technologies.”
It would have been hard to envision a more far-fetched associate for bitcoin than football, however, no other famous industry has held onto crypto anyplace close to such an extent.
Previous Tottenham chief Harry Redknapp once siphoned digital money by means of his Twitter account. Football legend Ronaldinho even propelled his own token. More names commonplace to British and European football fans round up this list, which is constantly growing.
Surely, as of late as April, dubious cryptographic money Bitcoin SV (BSV) signed a sponsorship deal with Scottish club Ayr United. The little seaside club carries the nickname of ‘The Honest Men.’ Make of that tidbit what you will.
Initially, only bitcoin, UTRUST’s UTK and Ethereum token will be accepted for payments, to begin with.
Do you think this football and crypto partnership will last long? Let us know your thoughts in the comments.