Top cryptocurrency news: Houston Texans became the first NFL team to offer a game suite using cryptocurrency

17-Aug-2022 By: Divya Behl

The Houston Texans of the National Football League (NFL) have become the first club in the league to sell single-game suites in exchange for cryptocurrency.

The move is part of a contract with Texas-based crypto business bitWallet, which became the team's official crypto wallet provider on August 16. bitWallet will also act as a middleman for the Houston Texans, exchanging cryptocurrency for cash.

According to the Houston Texans, local digital marketing firm EWR Digital purchased the first single-game suite using cryptocurrency immediately after the offer debuted, marking the first time a game suite has been offered in return for digital assets in the sport's history.

At this point, it appears that the crypto offer is only for suites, since there has been no mention of being able to purchase standard game day tickets using digital assets.

A game suite is a luxurious private viewing box at a stadium that is frequently outfitted with buffets, costly beverages, restrooms, TVs, attendants, and an excellent viewing area.

The Houston Texans' website does not publish pricing for single-game or full-season suites, instead directing visitors to send an inquiry in order to reserve one. A single game suite for the squad is estimated to cost between $14,000 and $25,000.

bitWallet claims to be supported in over 160 countries and allow users to trade or hodl Bitcoin, Ether, Litecoin, and Bitcoin Cash.

NFL, crypto, and blockchain

The Dallas Cowboys became the first NFL club to sign a crypto sponsorship agreement in April, when Crypto.com agreed to be its official digital asset partner for a multi-year period.

In late 2021, the NFL and the NFL Players Association (NFLPA) will also collaborate with Flow blockchain innovators Dapper Labs to create the licensed NFL All Day NFT collectible initiative. The NFL and NFLPA also took an ownership stake in Dapper as part of the transaction, and the two are sure to have gotten a fair share of the $36.8 million in revenues generated by NFL All Day since February.

The league also has many crypto-friendly players who have chosen to take a portion of their salary or contract bonuses in digital assets, including Green Bay Packers quarterback Aaron Rodgers, former Los Angeles Rams wide receiver Odell Beckham Jr., and Carolina Panthers quarterback Trevor Lawrence, who was the top draught pick in 2021.

Tom Brady, the legendary quarterback, has also experimented in the industry, opening his own NFT marketplace Autograph in April 2021, and notably paid a fan 1 BTC (worth $62,000 at the time) to get his historic 600th-touchdown-pass ball back in October.

WHAT'S YOUR OPINION?