The Staples Center in Los Angeles, California has received some more Bitcoin-related headlines.
Bitcoin enthusiast Jesse Stratton announced that on Wednesday he would remove the “Commerce.com” moniker from the Los Angeles sports arena. The Staples Center partnered with marketing agency FCB LA and CoinRoom.com to offer the seats for sale.
That deal then spawned the Bitcoin craze in Los Angeles. The company could have added a Bitcoin payment to the ticket process and none of this would have been a big deal, but CoinRoom.com and the Staples Center instead are giving members of the public the ability to pay for Bitcoin ahead of time.
With Bitcoin still being untested in the entertainment space, this is certainly a big win for Bitcoin fans in Los Angeles. Fans who want to buy their way into a game can do so without any extra sales or fees on the tickets.
While some others will tell you that there is no practical use for Bitcoin in the entertainment sector, I believe that is wrong. When we use the words Bitcoin and entertainment, some people automatically see poker, like in films like Young Guns. For me, that just misses the mark. I see it going a lot further than that.
Many stories in entertainment want us to believe that gambling is a driving force. I could never argue with you that these stories miss the mark, but casinos are where we are led to believe that gambling is what’s driving us to these products. In fact, it’s only a portion of the entertainment industry in gaming, publishing, etc.
But really, the real value that the entertainment industry can give Bitcoin users is the multitude of products and services on display. The opportunity is very large as opposed to mere entertainment. It’s also different than gambling.
So in short, not everything in Hollywood is giving you a shot at getting into these sports stadiums.
A large number of businesses across the entertainment industry, like book publishing, music, movies, and TV, are part of the movement toward Bitcoin adoption. They include Microsoft, Intel, Apple, AT&T, MGM Resorts, Warner Bros, McGreevly, and Sony Pictures. To put this in perspective, Hollywood has one of the largest theaters complexes in the world and it will potentially employ hundreds of people.