Shiba Inu (SHIB) Adopted by London Lions Basketball Club

• BitPay payment processor signed a deal with the London Lions.
• The partnership focuses on spreading awareness about crypto.
• SHIB soared 3.3% amid the news, reaching 52% monthly gains.

Established in 1977, the top UK basketball club has established a huge fan base among young people. As basketball is gradually becoming more popular in the United Kingdom, the club takes the opportunity to educate its fans about crypto and financial technology. Moreover, the fans can purchase matchday tickets, seasonal tickets, merchandise, and accessories from the Lions Shop.

Here are the top cryptocurrencies included in this deal:

• Bitcoin (BTC)
• Ethereum (ETH)
• ApeCoin (APE)
• Dogecoin (DOGE)
• Shiba Inu (SHIB)
• Polygon (MATIC)
• Litecoin (LTC)

Besides, BitPay supports over 100 other cryptocurrencies, including the popular stablecoins TetherUS (USDT) and Binance USD (BUSD). The biggest payment processor around the globe can use Coinbase Wallet, Ledger Wallet, Trust Wallet, MetaMask, and some other DeFi wallets for transactions, making it easy for crypto enthusiasts to purchase a ticket to the following 7 Days EuroCup game.

Fans to Pay for Tickets in Crypto

As basketball is gaining popularity in the home of soccer, the London Lion’s Copper Box Arena has been sold out for the very first time this season when the club joined the prestigious EuroCup tournament.

As most of the club fans are young, the partnership with BitPay enables the club to spread the word about crypto. Besides, BitPay is planning to roll out an educational program to increase the financial literacy of young adults. This comes under the circumstances where eight out of ten young people in the UK are not feeling sure about their finances.

Jonathan Lutzky, the Operating Partner of 777 Partners, made it clear that the club aims to positively impact society while “money management and future-facing financial literacy are some of the most important pillars.”

On the Flipside

• The move by London Lions caused an immense backlash on Twitter, as many fans of the club are blasting cryptocurrencies, associating the news with the infamous FTX collapse.
• The FTX fiasco caused a lot of athletes and renowned sports clubs in the US to terminate deals, lose their reputations, and bring a lion’s share of legal trouble.
• For instance, Miami Heat had to unexpectedly change their home venue’s name, even though FTX planned to reserve the rights for the next 19 years.

Why You Should Care

London Lions is the first British basketball club to strike a deal with BitPay. Ultimately, partnerships with popular sports teams can significantly accelerate crypto adoption in the region.

Find out more about the recent developments in crypto adoption:

Top Crypto Executives to Gather at Dubai Blockchain Life 2023

Manchester City Teams Up with OKX to Build Metaverse for Fans