NBL's Phoenix to accept cryptocurrencies for memberships and sponsorships

The South East Melbourne Phoenix will accept cryptocurrency as payment for memberships, sponsorships and corporate packages.

The Phoenix will be the first NBL club to accept payments in crypto, with club owner, Romie Chaudhari, stated “With the tremendous growth and relevancy of cryptocurrency during this tech boom, we felt it made sense to introduce cryptocurrency as an option for our fans to pay for their night out.

“Our organisation is always working to stay ahead of the curve.”

Chaudhari went on to suggest that the club believed cryptocurrencies would play an increasingly important role in the future of money and corporate treasuries.

The deal is not linked to a sponsorship with a cryptocurrency exchange or similar crypto intermediary.

The SE Melbourne Phoenix is the latest major Australian sporting team to accept cryptocurrency payments. It follows a deal between investment firm Monochrome Asset Management and Porsche Carrera Cup team, Wall Racing that saw the team accept crypto payments for its sponsorship.

Australian Baseball League club, the Perth Heat, became the first professional sports club to offer to pay its players and staff in Bitcoin. This was made possible through a deal with technology company opennode that specialises in fast and low-cost cryptocurrency payments.

Image: South East Melbourne Phoenix.