• The Zappos Theater at Planet Hollywood in Las Vegas, Nevada will be renamed to the Bakkt Theater after a partnership between Caesars Entertainment and Bakkt Holdings.
• Members of Caesars Rewards will be able to redeem credits through Bakkt Crypto Rewards and use them at participating retailers.
• Bakkt was initially announced in 2018 but experienced delays before its public release in 2019 with little use recorded during its first few months.
Newly Named Bakkt Theater
Planet Hollywood in Las Vegas, Nevada has announced that their concert venue, formerly known as the Zappos Theater, will now be named the Bakkt Theater following a new partnership formed between Caesars Entertainment and Bakkt Holdings.
Bakkt Crypto Rewards
As part of this new agreement, members of Caesars Rewards are now eligible to redeem credits through Bakkt Crypto Rewards and use them at participating retailers. This is an exciting development as it brings people closer to understanding that digital currencies such as Bitcoin can be used for everyday purchases and goods, which is what they were originally designed for.
Delayed Release of Bakkt
When it was initially announced back in 2018, many had high hopes for the success of the platform; however, after experiencing numerous delays before being released publicly in 2019, not much use was recorded during its initial few months on the market causing a decrease in assets such as Bitcoin.
Bakkts Recent Changes
Since then there have been some changes made by Bakkt which have seen an increase their usage including allowing users to buy Bitcoin directly from the platform without having to go through a third-party exchange. They also recently announced plans to launch cash-settled futures contracts allowing investors access into various crypto markets without actually owning cryptocurrencies themselves.
The newly named Bakkt Theater is an exciting development due not only because it honors one of the leading digital currency platforms but also because it allows users access into various crypto markets with more ease than ever before.