New York Digital Investment Group will pay the NBA Houston Rockets franchise in Bitcoin as part of a partnership to promote education and adoption of cryptocurrency.
In an announcement on November 16, Houston Rockets announced that New York Digital Investment Group, or NYDIG, will become the official Bitcoin (BTC) service platform and partner. As part of the partnership, NYDIG plans to name some of the Rockets’ premium locations at the Toyota Center in Houston “Bitcoin Suites.”
The NYDIG deal appears to be part of a broader strategy for Rockets owner Tilman Fertita, who is also chairman and CEO of Landry’s Restaurant Group. The company announced last week that it will offer a BTC reward program to its restaurants and is already rolling out BTC payment options.
Through Landry’s and other companies, Fertitta, valued at approximately $6.3 billion, owns several hotels and five casino resorts across the United States. At the time of publication, there were no reports of BTC or other cryptocurrencies being accepted at these sites. However, Fertita said in June that his holding company plans to start validating blocks on the Akash network.
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In the crypto space this year, several major US basketball franchises are partnering with companies working with digital assets and blockchain technology. In October, Voyager Digital entered into an agreement with Dallas Mavericks to make cryptocurrency more accessible through fan interaction. Coinbase also recently signed a multi-year sponsorship agreement with the NBA to become its exclusive partner on the crypto platform.