Dallas Mavericks, Mark Cuban’s NBA franchise, started a cashback rewards program to incentivize merchandise and ticket payments in Dogecoin (DOGE).
The rewards program is dubbed “Mavs Cryptomania,” and customers who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for online purchases in the Dallas Mavs shop.
The program is slated to finish on September 30. At the time of writing, users will need to outlay 505 Doge in order to receive the e-gift card.
The Mavs started accepting DOGE for payments back in March and were also one of the first NBA franchises to accept Bitcoin (BTC) payments for tickets and merchandise back in 2019.
Cuban is a major Dogecoin proponent and stated in April that while the coin started as a joke, it is “becoming a digital currency” due to its increasing adoption rate.
The billionaire investor stated in May that Dogecoin had outperformed other crypto assets in terms of merchandise purchases, as he noted that “we sell more Mavs merchandise for DOGE on a typical day […] than we did in a year with BTC or ETH.”
Cuban has become a prominent figure in crypto and blockchain tech in 2021 and has backed various crypto and blockchain projects such as Ethereum-based scaling solution Polygon, NFT protocol Alethea AI and NFT marketplace providers Genius, to name a few.
The Mavs owner recently fired back in response to Donald Trump’s latest FUD in which he suggested that Bitcoin and cryptocurrencies were a “disaster waiting to happen.”
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Senior NBA analyst Bill Ingram
Fans can now use Dogecoin to buy tickets to see MLB team Oakland Athletics take on the Toronto Blue Jays this month.
The team, also known as the Oakland A’s, is offering pairs of plaza infield tickets for 100 DOGE from May 3 until May 6. Two plaza infield tickets usually go for around $80 total, but with Doge sitting at around $0.43 today, fans will be able to fetch themselves a 46% discount if they purchase the tickets in Doge.
The team is accepting payment through Bitpay and will issue the tickets digitally via the MLB Ballpark app.
The Oakland Athletics — depicted in the 2011 box office hit and true story “Moneyball” — first became active in the crypto space in March after they started selling full-season access to six-person suits for 1 BTC.
The Athletics’ Doge adoption marks further evidence of the ever-growingmania surrounding the Dogecoin. According to data from CoinGecko, Doge now has a market cap of more than $57 billion — $500 million higher than leading stablecoin Tether’s (USDT) $52 billion capitalization.
Despite arguably holding no intrinsic value, Doge has surpassed the market cap of mainstream giants such as Honda Motor Co. at $52.9 billion, Ford Motors at $46 billion, and Twitter at $43 billion.
Ironically, well before Dogecoin rose to mainstream cult figure status, Dogecoin founder Billy Markus sold off his entire Doge stash in 2015 for the equivalent to a used Honda Civic.
Dogecoin’s price has surged this month, likely bolstered by the plethora of mainstream firms seeking to leverage DOGE’s cult-like status to promote snacks and confectionaries. DOGE is up 663% over the past 30 days.
Over the past 24 hours, $11 million worth of Doge has changed hands, pushing prices up 8.7% to around $0.43.