Thursday, December 5, 2019

Litecoin’s Partnership With the Miami Dolphins Isn’t a big Success

Introducing additional use cases for cryptocurrencies is very difficult.  Litecoin is an accepted payment method at the Miami Dolphins stadium, but it isn’t too popular.

Prior to the 2019 NFL season’s beginning, the Miami Dolphins shocked the world by announcing Litecoin payments would be accepted.

Miami Dolphins Don’t see Much Litecoin Action

Getting consumers to spend cryptocurrencies is not as straightforward as one might think.

After all, the users need to own the currency prior to spending it on goods and services.

So far, it appears that just 46 Litecoin transactions have been recorded as of October 2019.

A rather disappointing number, albeit there are only so many things Miami Dolphins fans can buy with Litecoin.

The 50/50 raffle tickets are not necessarily something visitors would buy with Litecoin over more traditional payment methods.

It is true that the introduction of crypto payments has increased the raffle proceeds by nearly 20%.

Unfortunately, it is difficult to determine what role LTC transactions play in this regard, as those figures are not available.

Despite Litecoin being put front and center in terms of in-game branding and advertising at the stadium, overall interest in the altcoin hasn’t increased that much.

It is evident that any currency not called Bitcoin will face a drawback in terms of branding, among other aspects.

Cryptocurrencies also remain very niche offerings first and foremost.

Changing that narrative will not be easy, as it has been a struggle for many years now. 

Image(s): Shutterstock.com

The post Litecoin’s Partnership With the Miami Dolphins Isn’t a big Success appeared first on NullTX.



Litecoin’s Partnership With the Miami Dolphins Isn’t a big Success