In a groundbreaking move, Adelaide Oval, the iconic South Australian sporting venue, has introduced cryptocurrency as a payment option for food and beverage purchases. This initiative, a first for a major national stadium in Australia, comes as a result of a collaboration between Crypto.com, the Adelaide Crows Football Club, and fintech software firm DataMesh. The innovative payment solution is timed to launch during the AFL's 2024 Gather Round event, setting the stage for a significant leap in sports event management and fan experience.
A Pilot Program with Future Promises
The crypto payment service debuts at the AFL’s Gather Round event starting on April 4, serving as a pilot program that will extend through the 2024 Toyota AFL Premiership Season. This integration of state-of-the-art payment technology and terminals at Adelaide Oval showcases a significant stride toward modernizing fan experiences at major sporting events.
Incentives to Encourage Adoption
To encourage the uptake of crypto payments, Crypto.com will offer a cashback incentive. The first 1,000 crypto transactions processed during the Gather Round event will each receive an AUD$10 cashback. This initiative, along with additional promotional activities planned for the rest of the season, especially during Adelaide Crows home games, aims to bolster the use of cryptocurrencies among AFL fans.
Karl Mohan, General Manager of Crypto.com’s APAC division, praised the seamless and scalable nature of the implemented payment solution, expressing optimism for similar future integrations.
Expanding Crypto's Footprint in Australia
The adoption of crypto payments at Adelaide Oval marks another milestone in Crypto.com's efforts to embed real-world cryptocurrency transactions across Australia. Following the successful launch of the nation's first in-store crypto payment system in partnership with Datamesh and OTR in 2023, this latest initiative reinforces the growing acceptance and use of digital currencies in everyday transactions.
Despite some skepticism from the Reserve Bank of Australia regarding the exact number of Australians owning crypto, there's an undeniable surge in interest towards cryptocurrencies, including assets like Dogecoin. A survey following the US SEC’s approval of spot Bitcoin ETFs revealed a 25% increase in positive sentiment towards Bitcoin among Australians, indicating a broader acceptance and curiosity towards digital assets.
This pioneering move by Adelaide Oval, supported by strategic partnerships, not only enhances the event-going experience for sports fans but also signifies a substantial shift towards the integration of digital currencies into mainstream commercial activities.
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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
