The Dallas Mavericks recently launched a cash-back rewards program to encourage fans to buy tickets and team gear using Dogecoin.
Mavs Cryptomania gives customers who spend more than $150 worth of Dogecoin in one transaction a $25 eGift card that they can use for online purchases in the Dallas Mavericks shop through Sept. 30.
The Mavericks have accepted Dogecoin since March and were among the first NBA teams to allow fans to buy tickets and merchandise with Bitcoin in 2019. Mavericks owner Mark Cuban has been a staunch advocate of Dogecoin, saying in April it’s “becoming a digital currency” because of its increasing adoption rate.
Cuban has also backed Ethereum-based scaling solution Polygon, nonfungible token (NFT) platform Alethea AI and NFT marketplace providers Genius, among other projects and endeavors with cryptocurrency ties.
“Think of them as decentralized, secure, networked platforms with features that allow for the development of apps that can have unique utility for individuals and businesses,” he said recently.
Cuban said last month he owns $494 worth of Dogecoin, Fortune magazine reported.
He said the coin is best used for transactions for buying goods or services, and he said the Dogecoin community is the strongest crypto community when “it comes to using it as a medium of exchange,” according to the report.
Cuban said in May that he owned 3,250 Dogecoin with his son, the report stated. While Cuban came under fire on Twitter for supporting Dogecoin, he said he has never hidden anything about his holdings, according to the report.
“I’ve said all along what I’ve bought or owned,” he said, per Fortune. “Just pay attention to my timeline.”
Overall, he owns less than $15,000 in Doge between the Mavericks and his personal account, the report stated.
Cuban’s praised the communal aspect of Dogecoin this spring, saying that could make it a strong cryptocurrency. That invited a reply from fellow billionaire and Tesla CEO Elon Musk, who said he had also been saying the same thing.