tl;dr
Cryptocurrency exchange Crypto.com is sponsoring the Crypto.com Showdown, a professional golf competition featuring LIV Golf professionals Brooks Koepka and Bryson DeChambeau against Rory McIlroy and Scottie Scheffler on December 17 in Las Vegas. The event will have a multi-million dollar prize paid...
Cryptocurrency exchange Crypto.com is making waves in the sports world by sponsoring the Crypto.com Showdown, a professional golf competition in Las Vegas on December 17. The event offers a multi-million dollar prize paid in CRO, the native token of the Cronos network.
This marks the first major golf tournament to be paid via Cronos, a significant milestone for both crypto and sports. While the exact amount of CRO to be awarded was not clarified, the event represents a growing trend in new crypto sports sponsorships.
Crypto.com's track record in sports sponsorships includes notable involvements such as the UEFA Champions League and the Crypto.com Arena. The company's Chief Marketing Officer, Steven Kalifowitz, emphasized their pursuit of "firsts" and highlighted this tournament as a groundbreaking achievement.
Cronos, the network behind the native token CRO, has experienced a nearly 6% increase in the last 24 hours, reflecting a resurgence in crypto sports sponsorships. Despite a previous lull following the FTX bankruptcy filing in late 2022, new data from CoinGecko shows that the trend of crypto sports sponsorships is gaining momentum once again, with more than twice the number of new sponsorships in 2024 compared to 2023.
Source: Decrypt (Author: Unnamed)