What does Benfica's acceptance of crypto ticket payments mean for the blockchain industry?

[Lawrence McOchillo]

[Simon Mugo]

Benfica, a major European football club based in Lisbon, Portugal today announced a partnership that would allow its fans to purchase tickets and merchandise using cryptocurrencies.

This was billed as a major milestone for the blockchain industry given the size of Benfica’s fan base and reputation, which has opened the door for other major football clubs to do the same.

Most crypto experts agree that such big announcements are good for the public perception of crypto and other digital assets, which lays the groundwork for their mainstream adoption.

Such experts remember how in the past the word crypto was associated with the dark web and other illegal activities and how that perception is slowly changing.

However, some crypto experts faulted Benfica’s decision to use a payment processor as opposed to accepting the crypto payments directly, which displays a lack of confidence in cryptocurrencies.

Overall, the move by Benfica is a huge step for crypto payments in the sports industry and is likely to trigger similar actions by other major sports teams from different disciplines.