American professional NFL team the Miami Dolphins has partnered with the Litecoin Foundation in what will see the popular cryptocurrency Litecoin become the “Official Cryptocurrency of the Miami Dolphins.”
This partnership includes the blockchain payments processor Aliant Payments who together with Litecoin Foundation and Miami Dolphins will enable fans to purchase raffle tickets for the 2019/2020 season.
According to a press release by Litecoin Foundation on Friday, July 12th, the partnership “creates a powerful alignment between Litecoin and one of the world’s most recognizable sports brands in the Miami Dolphins.”
All partners have something to gain from the partnership. The Miami Dolphins will enable their fans to make ticket purchases in both bitcoin and Litecoin while sponsoring a noble cause through the Miami Dolphins Foundation.
Half of the proceeds from raffle tickets sales will go into the team’s foundation. Fans will be able to purchase the team’s 50/50 raffle tickets online and at 14 kiosks and shops established throughout the team’s Hard Rock Stadium.
Commenting on the partnership, the team’s Vice President & Chief Information Officer Kim Rometo said that:
“The Miami Dolphins are always looking for ways to enhance the fan experience, and this partnership with Litecoin provides the ability for guests to enjoy our 50/50 raffle while donating to a great cause.”
Litecoin is the fourth largest cryptocurrency by market cap trailing bitcoin, Ethereum and ripple’s XRP. However, both Bitcoin and Litecoin are not that much different as they are both based on similar underpinnings.
Charlie Lee, the creator of Litecoin may have borrowed a lot from Bitcoin, the flagship cryptocurrency with the only difference being the hashing algorithm used for mining either coin. Lee was especially enthusiastic about the partnership saying that:
“This collaboration propels Litecoin in front of an audience of...