In the December 17 exhibition match dubbed The Crypto.com Showdown, Scottie Scheffler and Rory McIlroy will team up to take on Bryson DeChambeau and Brooks Koepka in what is billed as a PGA Tour vs. LIV Golf contest in Las Vegas.
Thematch will unfold at Shadow Creek, and the four players will reportedly be playing for a $10 million purse. However, that purse is truly unique to golf thanks to the event's title sponsor.
Crypto.com has paid to sponsor the event, and the competitors will be paid from a purse that is the United States dollar equivalent of Crypto.com's Cronos (CRO) coin, a form of cryptocurrency.
“Crypto.com’s mission is to accelerate the world’s transition to cryptocurrency and today’s announcement is our latest effort by introducing the world’s first major golf tournament with a purse in CRO cryptocurrency,” said Kris Marzalek, CEO of Crypto.com, in a release.
“The Showdown has been about innovation from the beginning and our commitment to delivering the best entertainment possible for the fans by uniting our sport,” said DeChambeau. “It is exciting to have Crypto.com now on board to provide a true first with a crypto currency-based prize purse.”
In the last 52 weeks, CRO has seen dramatic moves, as is common in much of the cryptocurrency marketplace. While Bitcoin has seen a massive rise to nearly $100,000, CRO has recently more than doubled in price from a low of $0.07 on November 5 to a current price of slightly more than $0.18. The CRO market cap is $4.9 billion.
Several professional athletes have sought to be paid in their favored cryptocurrency, and other events in different sports have featured all-crypto prize funds. For golf, though, this is a first.
