Tom Brady’s Web3 company, Autograph, has announced a partnership with PGA Tour to launch an NFT platform in early 2023.
Using images and video footage (moments) from PGA’s competition seasons, digital collectibles will be created and made available to fans. Most notably, the revenue generated from these purchases will go directly to the players featured on the collectibles.
“We’re on our 1-yard line and have the length of the field to grow,” said Chris Wandell, PGA Tour VP of media development, according to Golf Week. “This is going to be really good for fans and players. We think it will be a game-changer.” This move is part of a wider trend towards engaging with fans through Web3 technology. Last year, a Morning Consult cryptocurrency survey showed that PGA Tour fans were amongst the most familiar with crypto compared to fans of other leagues like the NFL or NBA. Thus, beyond generating more revenue streams, launching NFTs would give PGA new ways of engaging their tech savvy fans with virtual and in-person experiences.
The PGA Tour is also facing other challenges with a breakaway golf league. It threatened disciplinary action against PGA players who join the LIV Golf Invitational Series. In such a climate, the planned NFT platform arguably is another way to inspire loyalty in both players and fans.
On Autograph’s part, it was ounded just last year. it has signed deals with ESPN, Indy500 and DraftKings and counts Tiger Woods among its board advisors. Nevertheless, it faces competition from other platforms like Dapper Labs, who has been the major rights holder for video moments.
Rumors of the deal surfaced in May with a leak about potential
NFT initiatives with both Autograph and Sorare. With its Autograph project now released, we can potentially expect an announcement between PGA and Sorare soon.
