The Dallas Mavericks, the NBA franchise owned by Mark Cuban, have started a cashback rewards program to incentivize merchandise and ticket payments in Dogecoin (DOGE).
The rewards program is dubbed “Mavs Cryptomania,” and customers who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for online purchases in the Dallas Mavericks shop.
The program is to run until Sept. 30. At the time of writing, users will need to outlay 505 DOGE in order to receive the e-gift card.
The billionaire investor stated in May that Dogecoin had outperformed other crypto assets in terms of merchandise purchases, as he noted that “we sell more Mavs merchandise for DOGE on a typical day [...] than we did in a year with BTC or ETH.”
Cuban has become a prominent figure in crypto and blockchain technology in 2021 and has backed various projects such as Ethereum-based scaling solution Polygon, nonfungible token protocol Alethea AI and NFT marketplace providers Genius, to name a few.
Senior NBA analyst Bill Ingram stated on Thursday that “I’m not one to agree with the former president on much of anything, but I have long wondered whether we really need another form of currency that only has a pretend value because some group of people decides to pretend it does.”
Cuban responded by urging Ingram not to think of crypto assets as “currencies” as he emphasized the underlying tech that drives the sector:
“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.”