The Crypto.com Showdown, held at Shadow Creek Golf Course in Las Vegas, will feature a $10 million purse paid in Cronos (CRO) tokens
Cryptocurrency exchange Crypto.com will sponsor the first-ever golf tournament to feature a crypto prize. The tournament, set to take place on Dec. 14 at Shadow Creek Golf Course in Las Vegas, will offer a $10 million purse in Cronos (CRO) tokens. The competition will showcase a unique clash of golfers from rival tours, with Team PGA featuring Scottie Scheffler and Rory McIlroy, while Team LIV will be represented by Brooks Koepka and Bryson DeChambeau. The 18-hole match will adopt a Ryder Cup-style format, spanning four-ball, singles, and alternate-shot rounds.
Speaking about the tournament, DeChambeau said, “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 cryptocurrency-based prize purse.”
The $10 Million Prize in Perspective: Compared to standard professional golf tournaments, the $10 million prize in CRO tokens is significant. For reference, during their 2018 match, Tiger Woods and Phil Mickelson competed for a total purse of $9 million. This new competition also highlights the increasing involvement of digital assets in the world of sports.
The tournament will air on TNT on Dec. 17, showcasing top talent from both the traditional PGA Tour, established in the 1910s, and LIV Golf, which was founded in 2021.
Crypto.com and Involvement in Sports Partnerships: Crypto.com has undertaken several sports sponsorship ventures, including partnerships with Formula 1, UFC, and FIFA. The exchange also acquired the naming rights for the Crypto.com Arena in Los Angeles.
While such partnerships have garnered attention, cryptocurrency collaborations have also faced legal scrutiny. For instance, the NBA faced threats of legal action over promotional ties to the now-bankrupt Voyager Digital. Additionally, endorsements for FTX, a defunct crypto exchange, led to lawsuits involving public figures like Tom Brady, Steph Curry, and Shaquille O’Ne
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