Portuguese sports club SL Benfica now accepts cryptocurrency for merchandise and tickets. This report is according to Verdict.
The report says that SL Benfica partnered with cryptocurrency service Utrust to provide the new payments option. Fans and customers can now buy tickets any products on the club’s website with Utrust’s native token (UTK), or with top cryptocurrencies bitcoin (BTC) and ether (ETH).
Utrust supports instant crypto-to-fiat conversions purportedly, allowing SL Benfica to essentially get its revenue directly in cash. The press release explains that this allows the club to avoid issues around the volatility of cryptocurrencies, while still making use of blockchain technology for conducting secure transactions.
The club boasts of around 7 million fans active on social media, and around double that amount of total fans worldwide. Benfica says it is aiming to further grow its fanbase with its new crypto payments option.
SL Benfica CEO Domingos Soares de Oliveira commented on its significant digital fanbase, saying:
“We recognise that many of our supporters are now digital users first, so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience.”