Sharks

Sharks will accept crypto payments beginning next season

Sharks

The Sharks are stepping into the cryptocurrency space.

The Sports Business Journal's Mark J. Burns reported Monday that San Jose's parent company, Sharks Sports & Entertainment, will begin accepting cryptocurrency payment beginning next season. According to team president Jonathan Becher, the Sharks initially will accept cryptocurrency for "large payments or recurring payments," such as season tickets, suite leases and team partnerships. Other potential use cases will be considered down the line.

The Sharks currently accept payment via PayPal, which began accepting cryptocurrency last year. That was one major element that factored into the organization's decision.

"We're accepting PayPal, so then by definition, we're accepting cryptocurrency," Becher told the Sports Business Journal. "Why not embrace it and make it more visible as opposed to just doing it through a third party?"

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The Sharks are working with Atlanta-based payment processor BitPay, which accepts several cryptocurrency payment options, including Bitcoin, Dogecoin and Ethereum, among others. They are the third professional Bay Area sports team to accept cryptocurrency as payment, joining the Oakland Athletics and San Jose Earthquakes.