Monday night football could soon be entirely different for cryptocurrency fans.
Media reports yesterday show that the NFL’s Miami Dolphins are adopting Litecoin as the team’s ‘official cryptocurrency.’
It’s a rather interesting and unique proposition in a time when world governments and businesses are evolving their considerations of blockchain technologies and digital coins.
As a smaller coin offering than Bitcoin or Ethereum, the Dolphins’ adoption will push Litecoin (LTC) further into the limelight.
“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,” says Litecoin creator Charlie Lee in a press statement, according to Cointelegraph reporting by Max Boddy. “We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
As for technical involvement, Litecoin will be used for the Miami Dolphins raffles, and for ticket purchases, and will get visibility on some forms of team communications and branding.
Will this movement gain traction? Could we see, for example, Ripple as a mascot for the Denver Broncos, or Dogecoin representing Cleveland?
And who would be Bitcoin? Boston would certainly try to claim that mantle, along with the Super Bowl winner of any given year. (full disclosure: This writer is partial to the Philadelphia Eagles)
Although it’s not one of the most prominent coins, Litecoin is actually already fourth in the crypto market with a market cap at 6.3 billion.
This NFL’s teams collaboration is interesting in another way, too – there’s a wider movement to put cryptocurrencies in front of larger audiences as a way to encourage consumer use. That’s what we’re seeing with Bitcoin ATMs, rumors of involvement by big companies like Starbucks, and other kinds of retail schemes where cryptocurrencies play a role. These, too, will move markets – just keep an eye on LTC as this deal comes to fruition, and you may see the real market results of promotional partnerships in green ink.
