The Litecoin Foundation announces that Litecoin is now the official cryptocurrency of the NFL’s Miami Dolphins.
The worlds of cryptocurrency and sports continue to come together. A number of soccer teams, such as Juventus (Italy) and Paris Saint-Germain (France) have plans to launch tokens of their own for their fans. Now cryptocurrency has officially come to the National Football League (NFL) as the Litecoin Foundation announces that Litecoin has been named the official cryptocurrency of the Miami Dolphins.
Kickoff for LTC
The partnership between the Miami Dolphins and LTC is hoped to tap into in-game branding and advertising opportunities at Hard Rock Stadium, the home of the Dolphins. The cryptocurrency is also expected to be used eventually for the NFL team’s online properties and digital content.
At the current time, the partnership between the Litecoin Foundation and the Miami Dolphins allows fans to use LTC or Bitcoin to buy ticket’s for the 50/50 raffle at locations within Hard Rock Stadium or online. The 50/50 raffle gives away 50% of the proceeds raised to the charities supported by the Miami Dolphins Foundation.
Speaking on LTC being named the official cryptocurrency of the Fins, LTC creator Charlie Lee said:
WE’RE THRILLED TO SEE LITECOIN BECOME THE OFFICIAL CRYPTOCURRENCY OF THE MIAMI DOLPHINS. 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. WE SEE THIS AS A POWERFUL WAY TO RAISE AWARENESS AND EDUCATE PEOPLE ABOUT LITECOIN AND CRYPTOCURRENCIES ON A TREMENDOUS SCALE.
Kim Rometo, Miami Dolphins Vice President & Chief Information Officer, added:
THE MIAMI DOLPHINS ARE ALWAYS LOOKING FOR WAYS TO ENHANCE THE FAN EXPERIENCE, AND THIS PARTNERSHIP WITH LITECOIN PROVIDES THE ABILITY FOR GUESTS TO ENJOY OUR 50/50 RAFFLE WHILE DONATING TO A GREAT CAUSE.
While many cryptocurrency fans are happy to see an NFL team entering into a partnership with a virtual currency, most Dolphins fans are probably focusing more on the team reversing its losing ways. The last ten years have seen only one winning season (2016), and the overall record for the Fins over that time is a lackluster 72-88.
Crypto Hitting the Field
This is not the first time Litecoin has partnered with a sports company. Back in December 2018, LTC became the official cryptocurrency of UFC 232, making it the very first virtual currency to partner with the UFC.
Interest in cryptocurrency has been expressed by some players in the NFL. Quarterback Matt Barkley asked the San Francisco 49ers to pay him in Bitcoin, which the team declined to do. Cornerback Richard Sherman is also a huge fan of cryptocurrency, and offensive tackle Russell Okung asked the Chargers to pay him in Bitcoin, but he was turned down just as Matt Barkley was.
Retired NFL player Darren McFadden became interested in Bitcoin long before the cryptocurrency blew up in popularity. However, it appears that an investment worth $3 million has been lost due to his business manager allegedly mishandling the funds. McFadden filed a lawsuit back in 2017, and it appears that the suit is still not resolved.
At the time of writing, LTC is the fourth-ranked cryptocurrency and is trading at $100.46, a drop of 4.38% over the last 24 hours.