The Sacramento Kings is now considered as the first NBA sports team to mine cryptocurrency. They were already known as the first NBA team to accept Bitcoin as payment and, now, they have just made history once again.
The team will not be using the income from cryptocurrency mining for themselves; they are planning on using the proceeds earned through mining to fund their charity program called “MiningForGood.”
There is a good reason why the Sacramento Kings is regarded as one of the most tech-savvy NBA teams in the game today. The team is known for pushing the envelope when it comes to incorporating tech into their organization. The Sacramento Kings is home to a 100% solar-powered sports arena as well as many other historical breakthroughs.
Forbes reported that Sacramento Kings CTO Ryan Montoya said they were the first NBA team to utilize Twitter, the first to use Google Glass for live streaming and the first to incorporate drone technology. Of course, the team hopes that their foray into Ethereum mining could help build technology education programs and workforce development in the community by using their “MiningForGood” program to help fund the “Build. Black.” movement.
Emerging Blockchain Visionaries
Montoya praised the team’s CEO Vivek Ranadive and said that he’s “the big vision guy,” as per a Yahoo report. Montoya added:
“He’s always pushing us to use technology to improve the fan experience, and he’s always asking us how we can use tech and innovation to do good and give back to the community.”
Montoya is aware of the enormous potential that blockchain technology brings. He stated:
“We know blockchain is going to revolutionize the world.”
However, CEO Ranadive suggested that they needed to utilize blockchain technology to give back to the community:
“What can we do with cryptocurrency to give back to the community?’ It was obvious to us: Let’s start mining cryptocurrency. Let’s mine cryptocurrency and give the proceeds back to groups that could use a little extra help. And we are superfans of Ethereum.”
With that said, Montoya believes that their approach in incorporating technology should be adopted by other teams as well. He expressed:
“We hope that other teams will either model the same thing, or some version of it, which ultimately benefits everyone.”