Crypto.com is sponsoring the first golf tournament with a crypto purse on Dec.14 in Las Vegas.
In December, players from competing golf circuits will compete for a purse purportedly valued at $10 million in cryptocurrency. Title sponsor Crypto.com will award the inaugural crypto incentive in golf in its native Cronos token.
Crypto.com Showdown- A successful performance for crypto wallet
The Crypto.com Showdown will take place at the Shadow Creek Golf Course in Las Vegas, Nevada, where Scottie Scheffler and Rory McIlroy of the PGA Tour will compete against Brooks Koepka and Bryson DeChambeau of LIV Golf in an 18-hole mini-tournament.
The event is characterized as a “Ryder Cup-style event, featuring match-play rounds of four-ball, singles, and alternate shot.”
The purse in Cronos (CRO) exchange tokens is generous by golf standards. For instance, in 2018, Tiger Woods and Phil Mickelson, two prominent golfers, competed for $9 million.
In the Showdown, golfers from the PGA Tour, which has roots in the 1910s, compete against the Saudi Arabian-backed interloper LIV Golf, established in 2021. In a statement, DeChambeau stated:
“The Showdown has been about innovation from the beginning and our commitment to delivering the best entertainment possible for the fans. […] It is beyond exciting to have Crypto.com now on board to provide a true first with a crypto currency-based prize purse.”
The TNT network will broadcast the match on December 17.
Sports and cryptocurrency are not always compatible
Crypto.com is renowned for its slogan, “Fortune favors the brave,” uttered by celebrities including Eminem and Matt Damon. Steven Kalifowitz, the chief marketing officer of Crypto.com, stated, “We are always on the lookout for ‘firsts.'”
The cryptocurrency exchange has established partnerships with the FIFA Soccer World Cup, the Ultimate Fighting Championship mixed martial arts, and Formula 1 auto racing. The Crypto.com Arena in Los Angeles is also named after it.
Nevertheless, crypto partnerships are not without their hazards. The National Basketball Association (NBA) has been confronted with a lawsuit about its promotional agreement with Voyager Digital, a defunct cryptocurrency lender.
The Mercedes F1 Team, Major League Baseball, football hero Tom Brady, NBA star Steph Curry, and basketball commentator Shaquille O’Neal are among the parties that have filed lawsuits concerning deals with FTX exchange.