Miami Dolphins, one of the professional football team in America, declared Litecoin (LTC) as the team's official cryptocurrency, as per the press release on July 11.
Miami Dolphins and Litecoin Foundation have also teamed up with a third-party, Aliant Payment, crypto merchant services and payment processing firm, to ease crypto transactions for the football's team expected 50/50 raffle, that donates half of its revenue to Miami Dolphins Foundation and its charitable activities.
With the latest move, Crypto users will be able to use cryptocurrencies such as Bitcoin and Litecoin, rather than fiat money. Moreover, they also have a choice to purchase tickets online or via in-stadium kiosks at Hard Rock Stadium.
Apart from just playing a role in the above-mentioned raffle, Litecoin will also highlight in Dolphin's in-game branding and an array of advertisement opportunities.
Bitcoin and Litecoin, both the cryptos are developed based on the same technical aspects. Bitcoin is still leading the cryptocurrency market by an average market cap of $201 billion, but Litecoin stands out at the fourth position with an average market cap of around $6.37 billion, based on the report shared by Coin360.
Managing Director of Litecoin and Creator of Litecoin, Charlie Lee wants to use this collaboration as a way to inform people about Litecoin and cryptocurrencies in general. He stated:
“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.”
However, the effort is only a small duty in the leading American football team's money-making plan; the latest initiative plays a vital role in Litecoin Foundation's mission to spread awareness about technology and Cryptocurrency to public.
Just before a month, Portuguese sports club SL Benfica released a payment via cryptocurrency for tickets and merchandise. The sports club teamed up with Utrust, crypto services to promote this newest payment feature. SL Benfica currently accepts Ethereum (ETH), Bitcoin (BTC) and Utrust's native token.
In 2018, Litecoin Foundation teamed up with Ultimate Fighting Championship (UFC), one of the most popular martial arts organization, in a deal to display the Litecoin logo on the fight octagon's canvas at a game which consists of a former UFC light heavyweight champion.