Players from rival golf tours will face off on December 17th for a prize purse reportedly worth $10 million in Cronos tokens, the native cryptocurrency of Crypto.com. This unprecedented event marks the first time a golf tournament’s prize will be paid entirely in crypto.
PGA vs. LIV: A Clash of Tours
The Crypto.com Showdown will feature an intense competition between top-tier golfers from the PGA Tour and LIV Golf. Representing the PGA Tour are Scottie Scheffler and Rory McIlroy, who will battle Brooks Koepka and Bryson DeChambeau from LIV Golf. The tournament will be held at the prestigious Shadow Creek Golf Course in Las Vegas, Nevada, with the format inspired by the Ryder Cup, including match-play rounds of four-ball, singles, and alternate shot.
“This event has been about innovation from the beginning,” said DeChambeau. “It is beyond exciting to have Crypto.com on board to provide a true first with a cryptocurrency-based prize purse.”
Crypto Meets Golf: A Historic Prize Purse
The $10 million prize, paid in Cronos tokens, is significant even by professional golf standards. For comparison, the much-publicized 2018 match between Tiger Woods and Phil Mickelson featured a $9 million purse. This year’s Showdown not only pits traditional PGA players against those from the Saudi-backed LIV Golf, founded in 2021, but also solidifies cryptocurrency’s expanding influence in sports.
Crypto.com, known for its slogan “Fortune favors the brave” and high-profile endorsements from celebrities like Matt Damon and Eminem, is no stranger to major sports partnerships. The platform has already established alliances with Formula 1, the UFC, and the FIFA World Cup. It’s also the namesake of the Crypto.com Arena in Los Angeles, home to the NBA’s Lakers and Clippers.
The Risks of Crypto Sponsorships
While the partnership between Crypto.com and the golf tournament is a milestone, it highlights the volatile nature of crypto partnerships in sports. The NBA recently faced legal threats over its promotional deal with the now-defunct crypto lender Voyager Digital. Other high-profile sports figures, including Tom Brady, Steph Curry, and Shaquille O’Neal, have also been embroiled in lawsuits related to their associations with the collapsed exchange FTX.
The Crypto.com Showdown will air live on TNT on December 17th, promising a thrilling spectacle that bridges the worlds of elite golf and digital currency. As crypto continues to make inroads into mainstream sports, this event stands as a testament to the growing convergence of blockchain technology and global entertainment.
