• Planet Hollywood concert venue in Las Vegas, Nevada is being renamed as Bakkt Theater following a new partnership between Bakkt Holdings and Caesars Entertainment.
• All Caesars Rewards members will be able to redeem credits through Bakkt Crypto Rewards in lieu of fiat currency.
• Bakkt was initially announced in late 2018 but experienced a delayed entry into the crypto forum and was ultimately released for public use towards the end of 2019.
Bakkt Theater at Planet Hollywood
Planet Hollywood in Las Vegas, Nevada has announced that its concert venue will now be known as the Bakkt Theater, following a new partnership formed between Bakkt Holdings and Caesars Entertainment. This exciting news means that all Caesars Rewards members will be able to redeem their credits through Bakkt Crypto Rewards instead of fiat currency.
Bakkt was first announced in late 2018 with the idea that many participating companies, stores, and retail outlets would allow users to spend their hard earned crypto rewards on items and services. However, when it was released for public use towards the end of 2019, usage remained relatively low resulting in assets like bitcoin suffering heavily as a result.
Jason Gastwirth, president of Caesars spoke about this opportunity saying “Bakkt Theater showcases the best in live entertainment and experiences to match the extraordinary talent roster the venue features.“ He also went on to express his excitement about having them join them for their next chapter.
Using Cryptocurrency for Everyday Purchases
This move brings people closer to using cryptocurrency for everyday purchases, which is what they were intended for from the start. By allowing customers to use their digital currencies at participating retailers it reminds us of how versatile cryptocurrencies can really be when used correctly.
The renaming of Planet Hollywood’s concert venue to Bakkt Theater is an exciting development which allows customers to get rewarded with digital currency units instead of fiat currency when shopping or attending events at Planet Hollywood. It also serves as reminder that Bitcoin and other forms of crypto can be used as money and not just held onto as investments