Sports and entertainment industries could play a big role in Bitcoin adoption.

[CryptSafe]

I have long been having a thought over this. The sports and entertainment industries gets more attention to themselves unlike other industries. I believe also that they have or share fans that are into blockchain as well. If these two industries looks into blockchain I believe there would be a strong massive adoption as a result of their total engagement with their fans if they constantly accept Bitcoin payment for their shows and events. Like some clubs already doing this and the response is welcoming.

If musicians do follow same step, I think there would be massive adoption as most of them are Bitcoin informed and  inclined. Artists could help spread the move on Bitcoin adoption.


Do you think this would be realized if it is given attention to.

[Oshosondy]

Sport helped in bitcoin adoption, it makes deposit and withdrawal easier, unlike fiat cross border transfer which could be annoying at times. It also helps in privacy. But now that most bitcoin casinos are demanding for KYC as they are getting popular, privacy while gambling is now becoming the thing of the past.

Also later that altcoins are created, bitcoin gambling sites and the new gambling sites that are accepting bitcoin and also accepting altcoins. Some of the gambling sites even now are having their own tokens, but bitcoin continued to increase in value though.

If musicians follow suit, I think there would be massive adoption as most of them are Bitcoin informed and  inclined. Artists could help spread the move on Bitcoin adoption.

If a musician follow a law suit? How is that supposed to be related to bitcoin adoption? What I just know is that as people get to know what bitcoin is, they see it as a good means to hold value and an investment. These as been the main reason for the most adoption.

[NeuroticFish]

I have long been having a thought over this.

You are just too late, meaning that plenty others have been noticing this in the past years.

In 2014 already, Dogecoin holders have sponsored and painted (nicely!) a car for NASCAR.
I don't know, I think it was in 2017 I think when some Monero holders were trying to get people from entertainment area advertise Monero.
Kim Kardashian was already fined for shilling some other coin.
Crypto.com is very present in Formula 1.
Many platforms are sponsoring football teams, formula 1 cars and many other sports.
...and this is only the small part I know of.

As you can see, it happens already on a pretty big scale, and not only for bitcoin.
But bitcoin itself is a somewhat different story. Bitcoin has not CEO, it's not a business per se, it doesn't have funds for advertising. Bitcoin related businesses have that. So Bitcoin itself won't advertise itself, but Bitcoin companies should advertise both themselves and Bitcoin too. Could this be done at a larger scale? Most probably. But overall it's not a new idea.

[CryptSafe]

Sport helped in bitcoin adoption, it makes deposit and withdrawal easier, unlike fiat cross border transfer which could be annoying at times. It also helps in privacy. But now that most bitcoin casinos are demanding for KYC as they are getting popular, privacy while gambling is now becoming the thing of the past.

Also later that altcoins are created, bitcoin gambling sites and the new gambling sites that are accepting bitcoin and also accepting altcoins. Some of the gambling sites even now are having their own tokens, but bitcoin continued to increase in value though.

If musicians follow suit, I think there would be massive adoption as most of them are Bitcoin informed and  inclined. Artists could help spread the move on Bitcoin adoption.

If a musician follow a law suit? How is that supposed to be related to bitcoin adoption? What I just know is that as people get to know what bitcoin is, they see it as a good means to hold value and an investment. These as been the main reason for the most adoption.

 Follow suit edited as you did not get my explanatory.

[Upgrade00]

Every industry with a a wide customer base could play a huge role in the adoption of blockchain technology.
Sports and entertainment are one of the largest global industries and has had a role in the growth of several crypto related niches over the years.

I if they constantly accept Bitcoin payment for their shows and events. Like some clubs already doing this and the response is welcoming.

If musicians follow suit, I think there would be massive adoption as most of them are Bitcoin informed and  inclined. Artists could help spread the move on Bitcoin adoption.

People act on their personal gain or interest. We have had companies, trust funds, payment gateways and even individuals like Elon associate with Bitcoin to market themselves or their services.
If musicians or sport teams do not see the personal gain, they would most likely not associate with the technology.

[mk4]

Bitcoin is already quite big with these industries because of sports betting. With countries and states where sports betting might not be legal(or maybe just have difficulty with depositing fiat money), people have the option of using bitcoin deposits (plus a VPN, probably) to get around this problem.

[hd49728]

You only mentioned two industries that accept Bitcoin. There are more industries accept Bitcoin too and are they not important for Bitcoin adoption?

Sports related to gambling and you are right about that. Bitcoin and early altcoins like Dogecoin were accepted for gambling years ago and they are continuing to be used in that industry.

Recent years, we see more crypto-gambling casinos partner with football clubs and have their logos on club jerseys. The same for cryptocurrency exchanges like Binance and OKX.

Other industries have big role in Bitcoin adoption too and they decide how we see the adoption grows in future. We need more adoption for Lightning Network to bring Bitcoin to more industries and more people.

[Die_empty]

If musicians do follow same step, I think there would be massive adoption as most of them are Bitcoin informed and  inclined. Artists could help spread the move on Bitcoin adoption.


Do you think this would be realized if it is given attention to.

The influence of sportsmen and entertainers of every sector cannot be overemphasized. Most of them have a very large fan-base and fellowship that some Presidents of nations don't have. Some of them have die-hard followers that see these celebrities are demigods. Yes, they are one of the potent means of advertisement. In my country most cryptocurrency firms use musicians as their brand ambassadors and it has really contributed to their acceptance.

People act on their personal gain or interest. We have had companies, trust funds, payment gateways and even individuals like Elon associate with Bitcoin to market themselves or their services.
If musicians or sport teams do not see the personal gain, they would most likely not associate with the technology.

Due to the influence most of these celebrates have on their followers, most crypto companies use them to take advantage of their fans. We have had issues where fraudulent companies connive with these stars to defraud people. Many scam firms have paid these celebrities heavily to promote their services or shitcoins thereby attracting unsuspected investors that ended up losing their funds.      

[DapanasFruit]

Yes, I think I am gonna agree with you that certainly entertainment and sports re two big industries that can help a lot in pushing for the Bitcoin narrative. And in fact, for the past many years, there had been many known personalities working in the two industries who have become big allies and some of them even promoting Bitcoin but due to the crypto winter we seldom hear from showbiz people and players who are talking on Bitcoin...maybe they are just waiting for the bull run to get back on the scene. For sure, star power can be of big importance so as to reach as many people as possible and deliver the Bitcoin message to everyone.

[mvdheuvel1983]

Many countries adopting the bitcoin for their transaction like payments of salary to their employees.Mostly people with huge knowledge will try to use of the technology.Because technology plays huge role in the way of new adoptions.People get some additional money in near future,if they get paid in terms of bitcoin.Never worry about the pumps and dumps in the price of bitcoin.

[examplens]

I think that the adoption of bitcoin and cryptocurrency in the auto industry will somehow be a profound turning point. it is something that is actively used every day by a huge percentage of the population.
Advertising in Formula 1 (not crypto.com only) is a good step forward, but one must go further than the promotion itself. necessary utility value that is clear to ordinary people not well-versed in crypto.

[Doan9269]

The sports and entertainment industries gets more attention to themselves unlike other industries. I believe also that they have or share fans that are into blockchain as well. If these two industries looks into blockchain I believe there would be a strong massive adoption as a result of their total engagement with their fans if they constantly accept Bitcoin payment for their shows and events.

That's a good thought of an idea but surprisingly we have alot of industries already into the adoption of the blockchain technology right now while some are still coming in, they got a number of deals to sign MoU with their representing companies or organizations to implement this and i think accepting bitcoin as a payment currency is already in place to an extent, though may not have gone widespread, some were even showing the bitcoin advertisement in their live matches and spectators uses the option of bitcoin to serve as payment in specific locations where acceptable, but know that this does not got limited to the sport and entertainment industry alone, other industries where involved as well such as medical, tech, education and even political professions all uses the decentralized network of blockchain in one way or the other together with bitcoin.

[Wexnident]

Sports have been long influenced by crypto, specifically sports betting. Some sports tournaments have been filled with crypto exchange ads as well iirc, and maybe even some shitcoins (not sure about this one). Influencers as well have been into crypto, look at Elon himself with Doge, and it also shows how his influence has been pretty big in consideration of the doge market.

Exchanges are companies in the end and they can pay advertisements and stuff like that from events, which in turn advertise crypto itself. Musicians, Artists, whatever you call it can be covered under influencers imo so they only need to publicly state it in social media and they can basically use that to their advantage.

[btc_angela]

As far as I know, sports have been in the forefront of crypto already, even the biggest sporting event in the world FIFA has a partnership with crypto projects,

https://www.fifa.com/about-fifa/president/media-releases/fifa-announces-partnership-with-blockchain-innovator-algorand

And in the NBA, the Lakers home court is now renamed to Crypto.com

As for the entertainment, well it's a different story, there are many celebrities who promoted certain project but it turns out to be a scam, and the latest is Kim K.

https://www.sec.gov/news/press-release/2022-183

But as others have said, good or bad publicity is still publicity and in this case for cryptos.

[BitcoinPanther]

Do you think this would be realized if it is given attention to.

Definitely it would be realized if it is given an attention.  Sports and entertainment is a huge industry and has huge influence on masses.  If these industry implement Bitcoin transaction, it would spread like a wild fire making Bitcoin exposure easier.  Ever think about big stars talking in the tri-media that they are getting paid in Bitcoin...  that would be a huge push for Bitcoin promotion and adoption.

[KennyR]

Already few club players have begun to receive their payment in Bitcoin. From the very beginning sporting industry and entertainment industry have made good contribution. However it can't defeat the hotel network and the gambling industry participation percentage. When we talk of separate platform and usage of blockchain by sports and entertainment industry it isn't that high in usage. With time we may see the adoption, however these activities won't pave path for massive adoption. The legal adoption from countries will be the major reason for large scale adoption in the coming days.

[hatshepsut93]

The sports and entertainment industries gets more attention to themselves unlike other industries.

Where did you get this idea? Do you have data to support it?

I believe also that they have or share fans that are into blockchain as well.

Do you believe there's a significant correlation between those activities? Do you have data to support it?

If these two industries looks into blockchain I believe there would be a strong massive adoption as a result of their total engagement with their fans if they constantly accept Bitcoin payment for their shows and events. Like some clubs already doing this and the response is welcoming.

Steam, the largest online store of PC games used to accept Bitcoin, and Bitcoin was such a small fraction of their revenue, that they stopped accepting it when fees became high for the first time, and they didn't lose anything. Even when people have an option to pay with Bitcoin, in many cases they chose not to.

[kryptqnick]

There's a lot of potential Bitcoin adoption, but many things just didn't kick off. There've been experiments, but not mass adoption.
Tickets don't usually cost too much, so a transaction fee can feel significant to people. Also, if it's an even that's in very high demand, the speed of buying the ticket can also matter, and then Bitcoin confirmation time can be of issue. I think there's more usage of cryptos in gambling rather than entertainment in general (but I do consider gambling a part of entertainment) and in sports sponsorships and betting.

[Lucius]

Sport is something that is universal anywhere in the world and we know that for a long time various companies that are connected to cryptocurrencies have been using it to advertise their services. Of course, this helps to raise people's awareness that there is an alternative, although it should be known that Bitcoin is not the only cryptocurrency that is advertised and that there are a lot of bad projects that are promoted through sports.

The entertainment industry is a broad term because we can talk about online entertainment in the form of sports betting or casinos, but also the film industry and increasingly popular streaming services that still do not accept cryptocurrencies. However, all of them are only part of a much larger puzzle in which there are many participants.

Even when people have an option to pay with Bitcoin, in many cases they chose not to.

Of course they don't want to, because they bought Bitcoin for a completely different reason, and even if they want to pay something with the same, they face the initial problem of how to do it. As simple as it may seem to you and me, I know from personal experience that the average person does not want to think much when they need to pay something - a bank card with contactless payment or cash are much simpler solution than Bitcoin.

[Bobrox]

Seems sport have adopted and used Bitcoin for their transaction but not effective yet, several news before have sport football team adopted with Bitcoin used for player transfer activities but just few team only have used Bitcoin. All sport team just take business only when adopting Bitcoin seems what did by Lazio as Italy football team, have been partner with Binance last season competition begin but Bitcoin seems not really popular based on not effective advertising by Lazio football team.

Several exchange market like Crypto.com and Algarond Altcoin have advertising their project at World Cup and seems not stop how to advertising with cryptocurrency trough sport and I think will be effective next time.