American football has signed on a new star. Namely, as of the 2019 season Miami Dolphins will feature Litecoin as the official cryptocurrency of the team. Thereupon, cryptos are steadily spreading in the real-world and are now entering stadiums. Hard Rock Stadium to be precise.
What’s in It for the Litecoin Foundation
Litecoin Foundation has reportedly issued a statement claiming that the mentioned partnership will give them the opportunity to access one of the NFL’s “largest and most passionate fan bases”. Advertising to such an audience gives immense opportunities. Moreover, when paired with Miami Dolphins online properties and digital content, analysts confirm that Litecoin would most likely see gains.
Furthermore, The Litecoin Foundation explained that the main focus would be put on “home game attendees”. The Litecoin Foundation in co-operation with Aliant Payments and the Miami Dolphins will give them the opportunity to pay the tickets for the 50/50 raffle online with Litecoin and Bitcoin. The same tickets should be available at 14 kiosk stands at the Hard Rock Stadium. Additionally, half of the proceeds would go to the Miami Dolphins Foundation and its charitable causes.
By being visible to one of the largest fan bases in the USA, Litecoin will most likely become universally recognized. Furthermore, it does have a strong background of generating steady increase. Therefore, any wide acceptance would be justified.
Official Statements Issued on Both Sides
The creator of Litecoin, and the Managing Director of Litecoin Foundation, Charlie Lee explained:
“We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins. This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
This is not the first time that the Litecoin Foundation partners with sports organization. Namely, they previously teamed up with Ultimate Fighting Championship (UFC). The deal was to display the Litecoin logo in the fighting octagon during the fight involving former light heavyweight champion.
On the other hand, as true sportsmen, Miami Dolphins are all about promoting good cause. As per statements from their Vice President and Chief Information Officer, Kim Rometo, the Dolphins have always been trying to enhance the fan experience. Apparently, this partnership offers the great opportunity to mix sports enthusiasm and entertainment with good causes.
Recap of Litecoin Features
At the moment of writing of this text the price of a Litecoin (LTC) is approximately US$89.22. The market cap is above $5.5 billion. Litecoin was created in 2011. as the cryptocurrency which should offer the quickest confirmation times possible at the lowest fees. Namely, LTC transaction fees are low to zero.
Litecoin is working as an open source on a decentralized peer-to-peer network. Litecoin is running on blockchain. Its blockchain can handle higher transaction volumes than the BTC one, due to more frequent block generation.
Litecoin has passed a long way since its inception. Nowadays, it is proven to be the standard in global payments. Being fast, secure and anonymous goes a long way in the crypto payments world.
The Litecoin Foundation, it is a non-profit organization developing and promoting Litecoin and blockchain technologies.