The Sacramento Kings are cashing in on a cashless currency.

On Thursday, the Kings organization began accepting Bitcoin purchases, making it the first professional sports franchise to do so.

Bitcoin is a popular online currency that can be earned and traded by users globally. The Kings organization sees this as a new way of connecting with their fans through using the digital currency.

"Anything we can do to make the fan experience as great as possible," Kings president Chris Granger said.

According to the website, the currency is transferred electronically from person to person without going through a bank or clearing house.Instead of paying with cash or credit, you pay with a digital wallet.

"People have a Bitcoin wallet on their phone, they can walk right into the store, they will scan a QR code here at the store, they'll click one button on their phone, it will transfer Bitcoin from the buyer to the team," Granger explained.

The transaction goes through online without ever exchanging any plastic or paper.Bitcoin payments gained steam online within the past year.

"Here in Sacramento, fans are increasingly tech savvy and even among our Kings fans, they are often the first of their friends to have a new technological gadget," Granger said.

For now, Bitcoin will only be accepted for merchandise purchases at the team store.

As soon as March 1, fans will be able to use their digital currency to buy tickets to Kings' games at the ticket office or online.

"It sounds interesting, it sounds pretty cool, but just got to try it once and see how it goes," Kings fan Minor Rivera said.

While it could take some time for people to grasp the idea, the Kings organization believes more people will join the Bitcoin movement.

"We think it's a nice move in the right direction for our fans and while it's not a huge part of our business today, we expect it to grow over time," Granger said.

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