PGA Tour and autograph partner for multi-year NFT project
The PGA Tour, the US and North America’s main professional golf tour operator, is trying its hand at the non-fungible token business. This after it partnered with NFT marketplace Autograph in establishing its own dedicated platform.
With the multi-year deal with the marketplace owned by American football quarterback Tom Brady, the PGA Tour will have NFT content created from all player data and video in the archive.
All revenue that will be generated by the platform, which is due to launch in early 2023, will be given to players under the umbrella of the golf promoter.
Image: NFTHI
PGA Tour Joins NFT Bandwagon
Although the first to do so with Autograph, the PGA Tour now officially joins other major sports leagues in entering into long-term NFT agreements.
The National Basketball Association (NBA) and National Football League (NFL) are both partnering with Dapper Labs creator of the Flow blockchain to dabble in the digital collectibles market. Major League Baseball (MLB) has an existing NFT partnership with Candy Digital.
PGA Tour Chief Legal Officer Len Brown said they are thrilled to partner with Autograph as it will be an additional opportunity for them to showcase the most talented golfers to ever play the game, as well as their role in the sport’s rich history.
The English Premier League has previously expressed a desire to also enter the non-fungible token space as a way to boost its brand.
With this, NFTs become more popular, especially for those people and companies who want to experience the wonders of blockchain technology.
Autograph that makes its presence felt
According to VMR’s 202-page study on the NFT market sector, the worldwide NFT business will be worth $11.4 billion by 2021.
The industry is expected to expand at a compound annual growth rate of 34% over the next eight years, the research shows.
Meanwhile, over the past two years, Brady’s Autograph has been successful in adding popular devices to its platform and is now making its presence felt.
Perhaps the most notable golfer to have signed a deal with the NFT market is the legendary Tiger Woods, who sits on Autograph’s advisory board.
“I’m very excited to be a part of this next chapter of the PGA Tour and autograph,” Woods said. “Improving the world of golf with NFTs will build a connection between us as players and the fans.”
Tennis champion Naomi Osaka and NFL quarterback Justin Herbert have already partnered with Autograph, as well as skateboarder Tony Hawk and gymnast Simone Biles.
“We are thrilled to expand our roster of iconic partners with the inclusion of the PGA Tour as our first professional league,” added Richard Rosenblatt, Autograph co-founder and co-chairman of the board.
While the company currently operates under the “closed marketplace”, it has proven to be able to make hundreds of thousands of dollars every time a new collectible is unveiled to the public.
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