Recently, the Tennessee Titans announced that they would begin to accept Bitcoin, making them the first NFL team in history to make the move. They join a handful of other professional sports teams to enter the crypto fray, most notably Mark Cuban’s Dallas Mavericks. It has been reported that Bitcoin will be accepted for season tickets, suites, PSLs, sponsorship opportunities with the team, and other Nissan Stadium events, though that list could expand with time.
“The Titans are starting off with some of the bigger ticket items, but they hope to grow their crypto offering with time. It makes sense to use a small rollout as a beta test of sorts, before making the offering more widespread. But just that the team is expanding at all indicates that they believe that crypto is more than simply a flash in the pan. This is a sign of adapting to the times. That doesn’t happen for simple fads,” said Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges.
“While the world is in tumult, particularly given high inflation, an uncertain war in Eastern Europe, and a pandemic that is still affecting supply chains, cryptocurrencies continue to prove their mettle. The historic Covid-19 spending packages that governments across the globe approved over the past two years has brought on inflationary measures that are leaving consumers grappling for answers,” said Gardner.
“Major institutions are continuing to sign onto the future of money: digital assets. Whether we’re talking about the global interest in developing and launching CBDCs or El Salvador’s move toward Bitcoin, countries are fully engaged in the sector. It is no wonder that investment firms and other major industry players, like the Titans and Mavericks, are also finding ways to incorporate blockchain technology and payments into their business model,” said Gardner.
Modulus is known throughout the financial technology segment as a leader in the development of ultra-high frequency trading systems and blockchain technologies. Modulus has provided its exchange solution to some of the industry’s most profitable digital asset exchanges, including a well-known multi-billion-dollar cryptocurrency exchange. Over the past twenty years, the company has built technology for the world’s most notable institutions, with a client list which includes NASA, NASDAQ, Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.
“The NFL is an iconic institution, particularly as it begins to further its global appeal. There is reason for Bitcoin enthusiasts to be… well, enthused by this development. It is yet another stride forward, cementing digital assets as a long-term piece of our financial infrastructure,” said Gardner.
