The Dallas Mavericks became pioneers among NBA teams as they began accepting cryptocurrency Dogecoin as payment for tickets and merchandise. The coin which was launched as meme back in 2013 and was among the first cryptocurrencies to be launched after Bitcoin saw massive price increase this year.
Eight years later Dogecoin is the fourth largest cryptocurrency with a market capitalization of over $77 billion. The Mavs and the team owner Mark Cuban played a part in that as they helped with its adoption.
“The interesting part is that people are spend money with it [Dogecoin],” Cuban told Rob Lowe on his podcast Literally! “We were doing ten dollars a day, then a few hundred and then a few thousand a week. It’s kind of steadily growing up, not by leaps and bounds but just steadily grown.”
Just this year the price of Dogecoin has grown from nearly $0.005 per coin to $0.60 as of May 7, 2021. Back in 2013 the price of Dogecoin was $0.0009 per coin.