The chief professional organizer of golf tours in the United States, the PGA Tour, is attempting to enter the NFT business. In this respect, the platform is partnering with Autograph (a marketplace of non-fungible tokens) to establish an exclusive venue of its own.
PGA Tour Takes Autograph as a Partner for a Multi-Year Project of NFTs
With signing a multi-year contract with the non-fungible token marketplace that Tom Brady owns, the PGA Tour will be provided with the facility of having the creation of NFTs on the content dealing with the entirety of the players as well as the videos existing within its archive. All the gains that will be made by the venue (that is scheduled to be introduced at the start of the coming year) will be offered to the players coming under the umbrella of the golf organizer.
With this partnership, PGA Tour is becoming a part of the rest of the prominent sporting leagues set to participate in the NFT contracts of long terms. The National Basketball Association (NBA) as well as the National Football League (NFL) are reportedly operating with the Flow blockchain (the creator of Dapper Labs) to step into the marketplace of digital collectibles. Major League Baseball (MLB) is already in a collaboration with Candy Digital.
Len Brown, the Chief Legal Officer at PGA Tour, mentioned that they are enthusiastic about the respective collaboration as Autograph will assist them as an avenue on which they can showcase the well-talented players in the gold field along with describing their role in the rich history of the sport. Formerly, the English Premier League has expressed its intention to additionally incorporate the NFT world to elevate the brand thereof.
NFT Space to Be Valued at $11.4B by 2031
In this way, the non-fungible tokens are getting more fame, particularly in the eyes of those entities and individuals who wish to avail the newly emerging features and products of blockchain technology. As per a study by VMR on the space of NFTs, the valuation of the global NFT business will be up to $11.4B by 2031.
This signifies that the per annum growth rate would be nearly 34% during the coming 8 years. In the meantime, during the previous 2 years, Autograph of Brady has been effective in including well-known institutions in the venue thereof to become more popular within the industry.
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