• The Zappos Theater at Planet Hollywood in Las Vegas, Nevada will be renamed the Bakkt Theater following a new partnership between Bakkt Holdings and Caesars Entertainment.
• As part of the deal, Caesars Rewards members will be able to redeem credits through Bakkt Crypto Rewards.
• This move is meant to bring people closer to the idea that bitcoin and other forms of crypto are money and can be used to purchase everyday items and goods.
Renaming of Planet Hollywood Venue
The concert venue at Planet Hollywood in Las Vegas, Nevada has long been known as the Zappos Theater. Now, it appears the Planet Hollywood theater is going to have a new name – the Bakkt Theater.
The New Partnership
This change comes following a new partnership formed between Bakkt Holdings and Caesars Entertainment, which owns Planet Hollywood. As part of this deal, all Caesars Rewards members will be able to redeem credits through Bakkt Crypto Rewards.
Crypto Currency Usage
The most exciting thing about this news is that users can garner digital currency units instead of fiat currency. These digital currency rewards can then be utilized at participating retailers. Jason Gastwirth, president of Caesars said: “Bakkt recognizes the unique destination we’ve created at Planet Hollywood…and we are excited to have them join us in the venue’s next chapter.“
Mixed History for Bakkt
Bakkt has had something of a mixed history given it’s been around for close to four years but hasn’t made an impact as was initially hoped for when it was announced in late 2018. When released for public use towards the end of 2019, its usage wasn’t recorded much over those first few months and assets like bitcoin suffered heavily because of it.
Redeeming Itself?
In 2021 however, things began looking up for Bakkt as more people began utilizing their rewards program with various merchants such as Quiznos sandwich shop being one example where they could spend their hard-earned crypto rewards on items or services purchased there. With this latest development involving renaming a theater after them in Las Vegas hopefully more people will come aboard so that even greater use can be seen from this rewarding platform moving forward!