Adelaide Oval, a prominent sporting venue in South Australia, has introduced the option for AFL patrons to purchase food and beverages using cryptocurrency, making it the first major national stadium to offer such a payment method. This initiative is a result of a collaboration between Crypto.com, the Adelaide Crows Football Club, and fintech software firm DataMesh. The announcement coincided with the AFL’s 2024 Gather Round event, which is set to attract thousands of fans across five scheduled matches. The crypto payment service will be available for fans during the event starting on April 4 and will continue throughout the remainder of the 2024 Toyota AFL Premiership Season.
For patrons choosing to use cryptocurrency, Crypto.com will be the preferred payment processor during checkout, generating a unique QR code on the merchant terminal. Customers can scan this code with their Crypto.com app to select and authorize their preferred cryptocurrency for the transaction. To encourage early adoption, a cashback offer of AUD$10 will be applied to the first 1,000 crypto transactions completed during the Gather Round event. Additional promotional initiatives are planned for Adelaide Crows home games throughout the season. Karl Mohan, General Manager of Crypto.com’s APAC division, commended the user-friendly and scalable nature of the implemented payment solution, expressing optimism for future integrations of this kind.
The move by Adelaide Oval to adopt crypto payments reflects the increasing momentum of cryptocurrency transactions in Australia, particularly driven by initiatives led by Crypto.com. This initiative builds on the success of previous collaborations, such as the partnership with Datamesh and OTR in 2023, which launched Australia’s first in-store crypto payment system across multiple retail locations. Estimates suggest that around 20% of Australians may own cryptocurrency, although the Reserve Bank of Australia has expressed concerns about the accuracy of these figures due to potential survey biases. Nonetheless, there is a growing trend of interest in cryptocurrencies in Australia, with some individuals holding assets like Dogecoin and even some staff within the RBA engaging in personal crypto investments. A survey conducted after the US SEC’s approval of spot Bitcoin ETFs indicated a 25% increase in positive sentiment towards Bitcoin among Australians.
Overall, the introduction of cryptocurrency payments at Adelaide Oval represents a significant step towards mainstream adoption of digital assets in Australia. The collaboration between Crypto.com, the Adelaide Crows Football Club, and DataMesh showcases the potential for innovative payment solutions in the sports and entertainment industry. With initiatives like cashback incentives and promotional offers, the adoption of crypto payments is likely to gain further traction among fans and consumers. While the exact impact of this initiative remains to be seen, it signals a broader trend towards embracing cryptocurrency as a legitimate form of payment in everyday transactions. As more businesses and venues explore the possibilities of integrating crypto payments, the landscape of traditional payment methods is expected to evolve to accommodate the growing demand for digital financial solutions.
