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The PGA tour is all set to step into the NFT realm and is in the final phase of deciding partnerships with NFT companies. These partnerships will be a major source of additional revenue for the players. With a few tour players officially pledging the involvement, it will soon be “get set go” into the NFT world. With NFTs taking the forefront, more and more companies are joining the NFT bandwagon as its potential and promise is rather intriguing. Read along to know more about PGA’s entry into the already over-populated NFT world.
The What and Why
Non-fungible tokens are all the rage now. Its long list of disadvantages haven’t stopped top-notch companies and celebrities from promoting it. This explains its growing popularity which is reflected by the number of people and organizations who are eager to get a taste of the NFT realm. Whether the taste will eventually prove to be bitter once the sugar coating falls off is another question altogether. For now, the sugarcoating is all that people care for. Perhaps that is the reason why the PGA tour is also finalizing its NFT partnerships.
The players had already received a notification back in the month of December regarding the search for an apt NFT platform that would complement the revenue. Given the fact that other leagues have been quite successful with their NFT programs, it is only natural that PGA is eager to join the bandwagon as well. The search has been rampant and in the final list we have two names: Autograph and Sorare.
Autograph is quite popular among NFT platforms as it is co-founded by none other than Tom Brady. Autograph will make use of highlights licensed by the Tour in addition to photos and other data for the creation of NFTs. Another popular name associated with Autograph is Tiger Woods who has an equity in the company and is also one among the members of the company’s advisor’s board.
Sorare on the other hand is a company based in France. Its specialisation is in digital trading card fantasy game. The partnership with Sorare will be rather useful for the Tour as it will be instrumental in addition it to an already popular professional soccer-based platform in Europe. A player will have to opt-in to become a part of these programs. Whether all players will be equally enthusiastic about signing up for the program is another question altogether and let’s leave the job of answering that to time.