NYDIG Partners with Houston Rockets to Pay Royalties in Bitcoin

New York Digital Investment Group (NYDG) will use Bitcoin to pay franchise royalties to the National Basketball Association’s Houston Rockets as part of a partnership to promote cryptocurrency education and adoption.

In a statement on November 16, the Houston Rockets said that NYDIG will become the team’s official Bitcoin service partner and platform. As part of the partnership, NYDIG plans to name some of the Houston Rockets’ premium seats at the Houston Toyota Center as “Bitcoin Seats.”

The deal with NYDIG appears to be part of a larger strategy by Houston Rockets owner Tilman Fertitta, who is also chairman and CEO of Landry’s Restaurant Group, which announced last week that it would introduce a bitcoin rewards program for its restaurants and has begun rolling out bitcoin payment options.

Through Landry’s and other ventures, Fertitta, who is worth an estimated $6.3 billion, also owns several hotels and five casinos across the United States. As of the time of publishing, there have been no reports of these venues accepting BTC or other cryptocurrencies. However, Fertitta said in June that his holding company plans to begin validating blocks on the Akash Network.

This year, in the crypto space, many major U.S. basketball franchises have partnered with companies dealing with digital assets and blockchain technology. In October, Voyager Digital signed a deal with the Dallas Mavericks to make cryptocurrencies more accessible through fan engagement. Coinbase also recently signed a multi-year sponsorship contract with the NBA to become its exclusive crypto platform partner.

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