Another sports league is entering the non-fungible token space with a collection that will come with collectibles and future utility. Here are the details.
What Happened: The PGA Tour is partnering with Web3 company Autograph to launch a collection of NFTs for fans and investors.
Autograph, co-founded by NFL superstar Tom Brady, has experience launching sports-based NFTs and previously partnered with several athletes and companies such as DraftKings Inc DKNG.
“The PGA Tour is excited to work with Autograph to offer digital collectibles that highlight the most talented golfers in the world and their role in the sport’s history,” PGA Tour Chief Legal Officer Len Brown said.
The partnership will see the launch of an NFT platform and NFT collections using PGA Tour video and data.
“Golf fans will have the opportunity to own and collect NFTs featuring the best PGA Tour golfers in the world as well as some of their favorite moments from the archives and the current FedEx Cup season,” the press release said.
Holders of the NFTs will be able to earn rewards “with a wide range of utility,” the press release further stated.
Autograph’s Board of Advisors includes golf legend Tiger Woods, who saw an NFT collection launched as part of a partnership between Autograph and DraftKings.
“I’m very excited to be part of this next chapter with Autograph and the PGA Tour,” Woods said. “Enhancing the golf world with NFTs will create a connection between us and players and the fans.”
Autograph Chief Marketing Officer Patrick Cassidy told Decrypt that the company is working on something that’s unique from other sports leagues in NFTs.
“We really feel like Autograph has an opportunity to pioneer a lot of these things. We’re not trying to do what everybody else has done already,” Cassidy said.
Cassidy said Woods will have a hand in helping with the vision of the PGA Tour NFTs.
The NFTs are expected to launch in early 2023. Fans can sign up for news and updates here.
Related Link: How To Buy NFTs
Why It’s Important: The partnership between the PGA Tour and Autograph is a continuation of the deals signed between sports leagues and Web3 companies.
Autograph launched NFTs of several well-known athletes such as Woods, Brady, Simone Biles, Derek Jeter and Wayne Gretzky via a partnership with DraftKings. Cassidy said the exclusive partnership with DraftKings has ended.
Autograph recently launch a Tom Brady NFT called “season ticket” that unlocks utility in the form of merchandise and events. There are 2,500 NFTs in the collection with a price point of $750.
Other sports leagues have worked with a variety of Web3 companies including Major League Baseball (MLB) partnering with Candy, the National Basketball Association (NBA) partnering with Dapper Labs and Sorare, the National Football League (NFL) partnering with Dapper Labs and the National Hockey League (NHL) partnering with Sweet.
Dapper Labs saw early success with the launch of NBA Top Shot, an NFT collection offering video highlights in the form of digital collectibles. Dapper Labs launched NFL All Day last year and has seen interest pick up during the 2022 season with fantasy football elements used as a utility.
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