By GB News (World News) | Created at 2024-11-28 13:46:27 | Updated at 2024-11-28 15:33:38
1 hour ago
Golf stars from the PGA Tour and LIV Golf including Rory McIlroy and Bryson DeChambeau will compete for an unprecedented $10million (£7.9m) cryptocurrency prize at 'The Showdown' in Las Vegas next month.
The 17 December event marks the first major sports competition to offer its prize money entirely in cryptocurrency.
The winners will receive their prize in CRO tokens, the cryptocurrency of event sponsor Crypto.com.
The prize fund exceeds typical PGA Tour tournament purses, with only majors and signature events offering larger rewards.
Rory McIlroy will battle it out against LIV stars like Bryson DeChambeau and Brooks Koepka
PA
Players will have the option to keep their cryptocurrency winnings or convert them through selling or trading.
The event will see PGA Tour stars McIlroy and Scottie Scheffler team up against LIV Golf players DeChambeau and Brooks Koepka.
This unique crossover between the rival golf tours adds another layer of intrigue to the groundbreaking tournament.
Crypto.com has stepped in as the primary sponsor of the Las Vegas showdown.
The competition represents a rare collaboration between players from both tours, who have been divided since LIV Golf's emergence.
The company's chief marketing officer Steven Kalifowitz emphasised their pioneering approach.
"At Crypto.com, we look for firsts," Kalifowitz said.
"Now, we will be the first to host a major golf tournament with the world's top ranked players from LIV and the PGA Tour teeing off for a world's-first purse in CRO cryptocurrency."
Crypto.com's involvement in 'The Showdown' builds upon their established presence in sports sponsorship.
Rory McIlroy has never competed in an all-cryptocurrency tournament before
PA
While cryptocurrency sports sponsorships had declined following the FTX bankruptcy in 2022, the sector is experiencing a resurgence.
Recent data from CoinGecko shows that new sports sponsorship deals in 2024 have more than doubled compared to the previous year.This latest venture into golf represents another milestone in cryptocurrency's growing influence in professional sports.
