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Leading golfers from Africa and Europe have eyed lucrative Bitcoin payouts unveiled towards the end of the 2022 season. After a new sponsorship deal for South Africa’s Sunshine Tour, the payouts will be granted.
Golfers eye lucrative Bitcoin payouts
The 2022 golfing season will allow golfers to compete for Bitcoin payouts where they can compete for the top position in the Sunshine Tour competition. Luno, one of the largest cryptocurrency platforms in South Africa, is taking the sponsorship title over the rankings.
Top golfers who qualify for the Order of Merit will now qualify for Bitcoin rewards. The top golfer in the Luno Order of Merit will receive 500,000 rand worth of Bitcoin, equivalent to $31,000. The second and third position golfers will receive 200,000 rand and 100,000 rand worth of Bitcoin.
Luno will also sponsor every golfer in the Sunshine Tour with 1000 rand worth of Bitcoin. The reward will encourage the golfers to explore the mobile application of the exchange. The Sunshine Tour is also planning to use the sponsorship to change the rankings system by moving from a money-based system to a points-based system.
The general manager for Luno in Africa, Marius Reitz, said, “It’s significant on a couple of fronts, firstly the fact that there is Bitcoin prize money, which is a first for South Africa, and probably Africa. I think it’s the first sports sponsorship in South Africa involving a crypto company.”
Luno’s focus on new markets
Luno has made several initiatives to rank as a trusted cryptocurrency exchange platform. The exchange brings new users into the crypto space through a learning portal. The company became popular in 2021 after it invested in coach Rassie Erasmus of the Rugby World Cup-winning Springbok. The deal involved Erasmus teaching people how to invest in Bitcoin.
“I think it’s fantastic when a new brand comes into the space. They have a strong backing, they want to make noise, and they’ve been doing it like you’ve seen with the Rassie advert. They’ve done it well, and I’m sure they will continue with the Sunshine Tour,” said the Commissioner of the Sunshine Tour, Thomas Abt.
Reitz said that the crypto space was still recording a slow intake of new users because of insufficient education. The Luno Africa general manager added that the focus was on learning and education platforms while bringing wider audiences into cryptocurrencies.
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