The PGA Tour has teamed up with Autograph, the digital collectibles and non-fungible token (NFT) startup co-founded by star National Football League quarterback Tom Brady, to create an NFT platform which will directly benefit players financially.
Golf superstar Tiger Woods is on the Autograph advisory board.
Debuting in early 2023, the digital collectibles will be created from PGA Tour competition video, data, imagery, and other competition-related components.
The initiative has been in the works since December 2021 and marks another means for the PGA Tour to financially reward its players in the wake of the growing threat from the Saudi-backed breakaway LIV Golf. All of the net revenue flows directly to players.
“It’s a program designed to put money directly in players’ pockets,” Chris Wandell, the PGA Tour’s vice-president of media business development, told GolfWeek. “It is set up in a way to reward the most popular players and those who are actively marketing their own NFTs. We really want players to lean in and talk about this stuff.”
Notably, Phil Mickelson, who recently moved from PGA Tour to LIV Golf, had previously campaigned for the PGA Tour to introduce NFTs to allow its players to monetize their name, image, and likeness.
Collectors will have a chance to earn rewards, including access to exclusive digital, in-person, and onsite experiences.
“We are thrilled to expand our roster of iconic partners with the addition of the PGA Tour as our first professional league,” said Richard Rosenblatt, Autograph co-founder. “Over the last year, we have defined the future of fandom by leveraging NFT technology to bring fans closer to the icons they love across sports, music and entertainment and each other.
“We look forward to unlocking new potential and offering our community exclusive access to the PGA Tour team through this partnership,” Rosenblatt said.
In January, Autograph closed on a $170m (€150m) Series B round of funding involving some of the most prominent entities in venture capital. In August, Autograph also unveiled the “Autograph Signature Experiences” premium product.
Source: Sportbusiness
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