on July 11, American professional football team the Miami Dolphins announced that Litecoin (LTC) is now the team’s official cryptocurrency.
According to the press release, the partnership shall start from Sept. 5 – the start of the 2019 NFL season.
The Miami Dolphins and Litecoin also collaborated with Aliant Payments, crypto merchant services, and payment processing firm, to enable crypto payments for the team’s upcoming 50/50 raffle. Additionally, according to a few reports it is claimed that the payment platform shall donate half of its revenue to charity.
Users can buy raffle tickets with Litecoin (LTC) and Bitcoin (BTC). However, the tickets can be purchased online or via in-stadium kiosks at Hard Rock Stadium.
Charlie Lee, the creator of Litecoin and managing director of the Litecoin Foundation, hopes to use this partnership as a way to educate the public on LTC and cryptocurrencies.
Charlie Lee claims that :
“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.”
At present, Litecoin is holding 4th positions, trading at $104.72 with a market cap of over $6.37 billion.
Although Litecoin is playing a minor role in the popular pro football team’s money-making machine, this step can raise adoption of crypto payments with Litecoin and other cryptocurrencies.