Cryptocurrencies, and digital currencies in general, are at a stage now where organizations all over the world are attempting to integrate their operations with this new innovation.
This is part of a growing trend in the NBA to use cryptocurrencies, and the Kings themselves have also been leading on this front, with fans able to pay via cryptocurrencies for tickets and merchandise since 2014.
The NBA, as an organization, has also embraced cryptocurrencies and digital assets, as seen by the success of its Top Shot platform, where fans can buy digital highlights packages and virtual trading cards – this was a response to the growing use of non-fungible tokens, or NFTs, by celebrities and content creators earlier this year.
In keeping with the prevalent online trend, online gambling and casinos have picked up cryptocurrencies as a way to increase their traffic and revenue, with spectacular results.
Other companies have also begun to accept crypto as a payment method.
These developments also show how cryptocurrencies can now be used to make payments in a number of places, which was one of the criticisms of this innovation.
Ranadive has said team members will be able to get as much of their salary in Bitcoin as they want, which implies that there is no upper limit or percentage to this offer.