On December 17, two well-known PGA Tour players, Scottie Scheffler and Rory McIlroy, won the Crypto.com Showdown tournament, taking home a main prize of $10 million. Interestingly, their winnings were not paid in traditional dollars but in cryptocurrency.
What We Know
The tournament featured representatives of two teams: the PGA Tour team, which included Rory McIlroy and Scottie Scheffler, and the LIV Golf team, represented by Bryson DeChambeau and Brooks Koepka. The prize pool amounted to an impressive $10 million in cryptocurrency. According to the event’s main sponsor, Crypto.com, this is the first major golf tournament to offer a multi-million dollar prize paid out in the Cronos (CRO) cryptocurrency.
Representatives of Crypto.com stated that, unlike traditional payment methods such as cash or bank transfers, cryptocurrency offers a faster and more transparent settlement system, benefiting both organizers and athletes.
Cronos (CRO) is the native asset of the open-source, decentralized Cronos Chain blockchain, developed by Crypto.com. At the time of writing, CRO is trading at $0.1892 per coin, down 5.09% from the previous day. Thus, instead of $10 million, the winners’ holdings are now worth about $9.49 million.
