The PGA Golf Tour is entering the NFT space in a move that will open up additional revenue streams for players.
This innovative move comes as the metaverse expands and numerous sports leagues and companies explore how to join the space. The PGA Tour is finalising multiple deals to make this venture possible.
PGA Tour entering NFT space with Sorare and Autograph
Golf.com initially announced the Golf NFT news. The golfers were first made aware of the NFT venture back in December, and the tour has been making preparations since.
Notably, players will have to ‘opt in’ to make the most of the new NFT economy. In fact, the NFT venture cannot take place until a certain number of tour players agree to take part.
So far, we understand that the PGA Tour is finalising deals with two giant NFT platforms, Sorare and Autograph. Sorare is the hugely popular NFT card fantasy football (soccer) trading game already in partnership with numerous leagues. Now, it will leverage the same system for Golf.
The PGA Tour will also partner with Autograph for the NFT collection. Autograph, founded by NFL legend Tom Brady, will allow the use of Tour-licensed highlights and data to develop unique NFTs.
This exciting new venture for the PGA Tour and the NFT economy might well bring new fans to the sport. Payments will be based on FedEx cup ranking, and they will receive royalties on NFTs.
Significantly, the NFT collection will guarantee income for the golfers who opt to join and offer their name, image and likeness.
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