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 finalizing several agreements to make this venture possible.
The PGA Tour enters the NFT space with Sorare and Autograph
Golf.com initially announced the news of the Golf NFT. Golfers were first informed of the NFT venture in December, and the tour has been making preparations ever since.
The PGA Tour will soon make a splash into the NFT world. 👀https://t.co/Fd5Iwvnq7q
— GOLF.com (@GOLF_com) April 29, 2022
In particular, players will have to “opt in” to take advantage of the new NFT economics. In fact, the NFT venture cannot take place until a certain number of players on the tour agree to participate.
At the moment, we know that the PGA Tour is closing deals with two major NFT platforms, Sorare and Autograph. Sorare is NFT’s popular fantasy soccer card trading game that is already associated 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, created by Tom Brady, will allow the use of Tour highlights and data to develop unique NFTs.
This exciting new venture for golf and the economics of NFTs will attract new fans to the sport. Payouts will be based on the FedEx Cup standings, and they will receive royalties on the NFTs.
In addition, NFT proceeds will guarantee income for those PGA Tour players who choose to join and offer their name, image and likeness.
