The Tour and Autograph, the web3 company that Brady co-founded and has Woods on its board of advisers, established a partnership that would last until 2027 to develop an NFT platform and let fans own a piece of the organization’s past.
The Tour will collaborate with Autograph to develop a digital collectibles platform that incorporates video, data, images, and other competition-related elements from Tour competitions. The finest Tour golfers as well as some of their favorite moments from the past and current season will be featured on NFTs (Non-Fungible Tokens), which golf fans will be able to buy and collect.
Some believe that the market for NFTs, which is still in its infancy, may revolutionize the way that digital commodities are purchased and traded. Vice President of media business development for the Tour Chris Wandell compared it to the early days of the Internet.
“We’re on our 1-yard line and have the length of the field to grow,” he said. “This is going to be really good for fans and players. We think it will be a game-changer.”
Phil Mickelson argued that athletes should have more control over their media rights before switching to LIV Golf. The agreement stipulates that all net revenue will be distributed to participants.
“It’s a program designed to put money directly in players’ pockets,” Wandell said. “It is setup in a way to reward the most popular players and those who are actively marketing their own NFTs. We really want players to lean in and talk about this stuff.”
Wandell claimed that while only a small portion of Tour viewers currently understand what an NFT is, this is expected to change as they become more prevalent. Similar to sports betting and fantasy golf, it has the potential to introduce a fresh way for supporters to show their support for a particular player and draw in new viewers to the game.
“Enhancing the golf world with NFTs will create a connection between us as players and the fans,” Woods said in a press release announcing the deal.
Collectors will also have the opportunity to gain benefits, such as entrance to restricted digital, physical, and onsite experiences. Beginning in early 2023, The Tour’s exclusive NFT Digital Collectibles platform with Autograph will be live.
“This is an effort by the PGA Tour to try something we’ve never done before,” Wandell said. “We’re trying to do our best to innovate for our fans and partner with companies willing to take a leap with us.”