Players from rival golf tours will face off in December for a purse reportedly worth $10 million in cryptocurrency. Title sponsor Crypto.com will pay golf’s first-ever crypto prize in its native Cronos token.
A good show for a big crypto purse
The Crypto.com Showdown will see Scottie Scheffler and Rory McIlroy of the PGA Tour face off against Brooks Koepka and Bryson DeChambeau of LIV Golf in an 18-hole mini-tournament at the Shadow Creek Golf Course in Las Vegas, Nevada.
The event is described as a “Ryder Cup-style event, with match-play rounds of four-ball, singles and alternate shot.”
The purse in Cronos (CRO) exchange tokens is generous by golf standards. For example, big names Tiger Woods and Phil Mickelson competed for $9 million in 2018. The Showdown pits golfers from the PGA Tour, which has origins dating to the 1910s, against Saudi Arabian-backed upstart LIV Golf, founded in 2021. DeChambeau said in a statement:
“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 match will take place on Dec. 17 and will be televised on the TNT network.
Source: Crypto.com
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Sports and crypto don’t always mix well
Crypto.com is remembered for its slogan “Fortune favors the brave,” spoken by such celebrities as Matt Damon and Eminem. “At Crypto.com, we look for ‘firsts,’” Crypto.com chief marketing officer Steven Kalifowitz said.
The cryptocurrency exchange has partnerships with Formula 1 auto racing, Ultimate Fighting Championship mixed martial arts and the FIFA soccer World Cup. It is also the namesake of the Crypto.com Arena in Los Angeles.
Crypto partnerships are not without risks, however. The National Basketball Association has been threatened with a suit over its promotional deal with defunct crypto lender Voyager Digital.
The Mercedes F1 Team, Major League Baseball, football star Tom Brady, NBA star Steph Curry and basketball commentator Shaquille O’Neal are among the parties who have been sued in connection with deals with FTX.
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