Nashville SC Becomes First MLS To Accept Full Payment In Bitcoin

A Major League Soccer(MLS) team based in Nashville, Nashville SC is the first MLS to accept full payment in Bitcoin.

The franchise has partnered with a digital asset management firm, Valkyrie Investments. As part of the deal, the naming rights to the 850-seat suite at the club’s new stadium, to be named Valkyrie Premier Club, will be given to the Nashville-based firm.

Chief executive of Valkyrie Investments, Leah Wald, says soccer is a community-driven sport, and their industry is all about community. Moreover, Wlad says the partnership will help in feeding their future venture to establish Music City as a global hub for digital assets and blockchain.

Nashville SC, a Major League Soccer(MLS) team based in Nashville, Tennessee, has become the first MLS to get paid entirely in Bitcoin.

An agreement is signed between the franchise and Valkyrie Investments, a digital asset management firm that will also be a founding partner of the club.

Under the partnership, the Nashville-based company is given the naming rights to the 850-seat suite at the club’s new stadium, which will be known as the Valkyrie Premier Club.

Even though Nashville SC’s new 30,000-capacity stadium is not due to open until May, the premium space has been sold out for almost a year. According to the club, it will be the largest soccer-specific venue in the U.S. and Canada.

Valkyrie’s logo To Feature On Sleeve Of Nashville’s Training Kit

Besides, as part of the deal, Valkyrie’s logo will be featured on the sleeve of Nashville’s training kit.

While speaking to ESPN, Ian Ayre, the chief executive of the MLS team, revealed that the club does not care about the risks involved with Bitcoin. Today, many organizations monitor what you do with your cash; it doesn’t matter if you’re keeping it all in this currency or other currencies, he further adds. It’s up to their finance team to find out the best hedge.

The partnership witnessed Nashville SC join the National Basketball Association’s (NBA) Houston Rockets and Dutch soccer outfit PSV Eindhoven accepting Bitcoin as sponsorship payment.

Nashville SC’s Vice president of corporate partnerships, Dan Farrell, says that they want to pioneer both on and off the pitch while remaining in Nashville all this time.

The partnership with Valkyrie offers both a local connection and a platform to connect both entertainment and sports to digital currency in the hottest city in the U.S.

In addition, the Chief executive of Valkyrie Investments, Leah Wald, says the industry is all about community, and soccer as a sport is quite community-driven.

Wald believes the partnership with Nashville is a “natural fit” for both of us and comes under our extended plans to help establish Music City as a global hub for digital assets and its underlying technology, blockchain.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing