Tag: Bitcoin

Barracuda Championship is first PGA Tour stop to accept cryptocurrency for tickets

The Barracuda Championship is the first PGA Tour event to accept cryptocurrency payments for tickets.

Celebrities got things started last week with a raucous party-type atmosphere at Edgewood Tahoe, where Tony Romo came out a winner.

Now, golf in the area gets a little more serious as PGA Tour pros arrive in Truckee, California, for the 24th Barracuda Championship.

The four-day event begins Thursday at the Tahoe Mountain Club on the Old Greenwood course.

Six former Barracuda champions are in the opposite-field event: Richy Werenski (2020), Andrew Putnam (2018), Chris Stroud (2017), Greg Chalmers (2016), JJ Henry (2012) and Scott Piercy (2011).

Local standout Ollie Osborne, a Bishop Manogue High School graduate who later played at SMU, is in the field on a sponsor exemption.

David Longmire, who won the 2022 Reno Open, a mini-tour event, in June, also earned a spot in the tournament.

One player who will not be at the Barracuda is defending champion Eric van Rooyen. He earned his first career PGA Tour win at the 2021 Barracuda Championship and that earned him a spot in the British Open this week at St. Andrews.

He became the first player with a winning score of +50 since the Modified Stableford scoring system was introduced in 2012. He is the sixth consecutive first-time winner of the Barracuda Championship but the first since Collin Morikawa in 2019 to win the tournament in his debut.

Van Rooyen’s score of +50 (+7/+17/+10/+16), set a record for the Modified Stableford format event. Geoff Ogilvy finished the 2014 Barracuda at +49.

The Barracuda is the only PGA Tour event that uses that scoring system. It’s also the only Tour stop held opposite a major championship.

The field includes 50 players from the DP World Tour.

Top players to watch

Maverick McNealy, who has top-20 finishes in back-to-back events, and is the 12-1 favorite according to Tipico. McNealy ranks third in eagles, 18th in birdie average and 34th in scoring average this year.

Other top contenders include Alex Noren, Cam Davis, Mark Hubbard and Taylor Pendrith.

Hubbard is coming off his best finish of the season with a third place at the Barbasol Championship. He has made 14 cuts with six top-25 finishes in 18 events.

Noren, who is from Sweden, has 11 wins as a professional, none on the PGA Tour, with most in Europe. He finished ninth in the Barracuda in 2020. He’s coming off a 30th-place finish at last week’s Genesis Scottish Open, which ended a streak of missed cuts in three straight tournaments.

Fans watch the 2020 Barracuda Championship at Tahoe Mt. Club’s Old Greenwood golf course from a back porch in Truckee, California. (Photo: Tom R. Smedes/Special to Reno Gazette Journal)

Matthias Schwab could be another top player to watch this week, although he is listed at 35-1 odds. He’s coming off a 16th-place finish at the John Deere Classic. Schwab was in eighth after three rounds before shooting 1 over in his final round. Schwab earned his PGA Tour card last year and has three top-10 finishes in his rookie year. He has made 14 of 18 cuts, with five top-25 finishes this season.

More top contenders include Rasmus Hojgaard, who finished tied for 10th at the Scottish. He has only missed one cut through 12 starts on the DP World Tour and ranks 11th in driving distance for the season. Cam Davis is coming off an eight-place finish with four rounds in the 60s at the John Deere.

A first for crypto

The Barracuda Championship is the first PGA Tour event to accept cryptocurrency payments for tickets as well as hospitality and sponsorship packages. More than 300 different cryptocurrency are accepted, including Bitcoin, Ethereum and Dogecoin.

“We are incredibly excited to take this first step in innovating the sport we all know and love, and to offer our spectators a new way to enjoy the tournament,” said tournament director Chris Hoff. “The professional golf landscape continues to innovate and evolve, and we are honored to usher the PGA Tour into this new space.”

The Barracuda is also offering an exclusive VIP experience only to those golf fans who purchase with cryptocurrency. The VIP package will include private hospitality, an official tournament pro-am team and honorary observer experiences.

Tee times

Begin approximately 7 a.m. local (10 a.m. ET) Thursday and Friday and 8:30 a.m. local (11:30 a.m.) Saturday and Sunday after the 156-player field is cut to the top 65 and ties.

Modified Stableford scoring

The Barracuda is the only PGA Tour event to use the scoring system, in which players earn points for aggressive play.

A double eagle is worth 8 points, an eagle is worth 5, a birdie earns a golfer 2, par is 0 points, bogey is minus 1 and double bogey or worse is minus 3.

Purse

The purse is $3.7 million with $666,000 going to the winner.

TV

The Golf Channel will televise the Barracuda on Thursday and Friday from 4 to 7 p.m. ET, Saturday and Sunday from 6 to 9 p.m. ET.

Past winners

1999 Notah Begay III

2000 Scott Verplank

2001 John Cook

2002 Chris Riley

2003 Kirk Triplett

2004 Vaughn Taylor

2005 Vaughn Taylor

2006 Will MacKenzie

2007 Steve Flesch

2008 Parker McLachlin

2009 John Rollins

2010 Matt Bettencourt

2011 Scott Piercy

2012 J.J. Henry

2013 Gary Woodland

2014 Geoff Ogilvy

2015 J.J. Henry

2016 Greg Chalmers

2017 Chris Stroud

2018 Andrew Putnam

2019 Collin Morikawa

2020 Richy Werenski

2021 Erik van Rooyen

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How much has Saquon Barkley lost in latest Bitcoin dive?

How much has Saquon Barkley potentially lost in the recent Bitcoin dive?

The crypto market is still relatively new and exciting, which also makes it potentially dangerous to go all-in unless you really know what you are doing. Amid a recent downward trend in the crypto market, much like the more traditional markets, it has been easy to suggest athletes who decided to take endorsement money strictly through crypto may have reason to second-guess their financial decisions.

Among the professional athletes who took a plunge into crypto is former Penn State running back [autotag]Saquon Barkley[/autotag]. Barkley announced last July he would be taking all future endorsement compensation exclusively through Bitcoin. Barkley has marketing deals in place with Nike and Pepsi, just to name two big ones aligning with Barkley, and it has been reported Barkley earns more than $10 million per year in endorsement deals.

That may or may not have been a wise move for the current New York Giants running back depending on when or if he cashed out on Bitcoin.

As with any market, those who stay invested for the long haul may not have quite as large a concern as those who are quick to pull a trigger on their investments. Bitcoin hit its peak at $68,789.63 in November and is currently sitting just under $20,000 today. But whether Barkley is still all in on Bitcoin or if he cashed out while the Bitcoin market was shot as it has been is unknown and unconfirmed.

If Barkley still has all $10 million in endorsement compensation invested in Bitcoin, the current value is roughly $6.6 million.

So it is impossible to know just how much Barkley may have risked with his crypto plunge. In the long run, it’s possible everything will work out great for Barkley, but the markets overall will have to turn things around for that to be the case.

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These potential athlete salary losses on crypto are staggering but not completely accurate

These numbers are wild, but there’s more to it.

Bitcoin has taken quite the dive in the last few months, falling from a record high of more than $66,000 in October down to around $21,000 today. The sharp decline for the world’s most popular cryptocurrency is representative of the larger crypto market, which is in a bit of a dry spell as a whole.

The news is tough to hear for those who aren’t as bullish on crypto as they might have once been, especially if they didn’t get out sooner. Among the ranks could be a few athletes who accepted some or all of their salary in crypto over the last year or so.

But while this graphic that surfaced on Twitter about stars who suffered the biggest losses made for a good joke (the caption, not the losses), it’s not completely accurate.

The big name that jumps right off the page is Jaguars quarterback Trevor Lawrence, who partnered with Blockfolio last April to have his entire $24 million rookie signing bonus paid in crypto. According to the chart, that $24 million would only be worth about $9 million today. But that doesn’t necessarily mean Lawrence lost $15 million.

What we don’t know is if and when Lawrence, or any of the other athletes’ losses were realized. Bitcoin was at about $54,000 when Lawrence’s deal with Blockfolio was announced last April. So it’s possible he actually made a profit if he pulled out at or near the October peak. Russell Okung may have even been one of the league’s highest paid players at one point thanks to receiving half his 2020 salary in Bitcoin.

Of course, for those who are still invested, it’s possible their losses could reach even more than what’s listed above. But as people who apparently believed in crypto enough to put millions into it, they’d tell you the market is going to turn and they’ll still potentially make money or break even. I wouldn’t bet on it, but hey, that’s just me.

The biggest thing to take away from the list is that none of the athletes were bullish enough to put their entire salary into crypto. Odell Beckham Jr. was the only one who did, but his $750,000 deal with the Rams was just a fraction of what he was paid by the Browns in the same year. And Sean Culkin would’ve put his entire salary into crypto, but he was cut last spring before he could even get the chance — and then retired. It was the ultimate all-in move. For the vast majority of the others, the salary conversion was simply another investment – a gamble. One that may or may not have paid off, but one they ultimately could afford to make.

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Former Tigers WR Odell Beckham Jr to get paid in bitcoin, give $1 million to fans

Former LSU WR OBJ is getting in on the Bitcoin action

Times certainly have changed in the world. Cryptocurrency seems to be all the rage these days. Former LSU wide receiver Odell Beckham Jr and current Los Angeles Ram it getting in on the action. According to his Twitter account, OBJ will be getting paid in Bitcoin.

Odell Beckham Jr. joins the list of athletes who are joining the cryptocurrency world.

The Los Angeles Rams wide receiver announced on social media this week that he will receive his new salary in Bitcoin in partnership with Square Inc.’s (SQ) Cash App. Beckham will also give away $1 million in Bitcoin to fans.

“It’s a NEW ERA & to kick that off I’m hyped to announce that I’m taking my new salary in bitcoin,” Beckam wrote on Twitter. – per Analis Bailey, USA TODAY Sports

OBJ recently signed with the Rams after being recruited by another new addition, Von Miller. He was waived by the Cleveland Browns after a flurry of frustration with the offense and quarterback Baker Mayfield. The Rams are currently second in the NFC West at 7-3. Beckham Jr caught two passes for 18 yards in the 31-10 loss to San Francisco. This week the Rams play against the Green Bay Packers, who were also looking to add the former Tiger.

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Follow Patrick on Twitter: @PatrickConnCFB

Rockets launch official partnership with bitcoin company NYDIG

As the team’s official bitcoin services partner and bitcoin platform, NYDIG will be the exclusive cryptocurrency partner of the Rockets.

The Houston Rockets on Tuesday announced a new partnership with NYDIG, a leading bitcoin company. As the team’s official bitcoin services partner and bitcoin platform, NYDIG is becoming the franchise’s exclusive partner across a range of cryptocurrency services. The sponsorship will be paid in bitcoin, and the proceeds will be held on NYDIG’s secure, regulated, full-stack bitcoin platform.

“From basketball operations to business development, our organization has leaned on advancements in technology to remain on the cutting edge,” said Gretchen Sheirr, president of business operations. “Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates.”

“Expanding the partnership between the Fertitta family and NYDIG to the Houston Rockets was a natural choice,” said Trey Zeluff, director of digital asset strategy at Fertitta Entertainment. “The Rockets are a leading sports brand, and NYDIG is the leader in bitcoin financial services. Together, we will deliver new opportunities for Rockets fans and the city of Houston to learn about and use bitcoin.”

The Rockets say they are planning to work with NYDIG to expand the bitcoin ecosystem through access, educational programming, and community support initiatives, all while providing NYDIG with exposure across all of the team’s social, digital, and in-arena platforms. In addition, NYDIG is becoming the first naming rights partner of Toyota Center suite levels, to be named the “Bitcoin Suites by NYDIG,” and will receive baseline apron signage during Rockets games.

“We are thrilled to have found a forward-thinking partner in the Houston Rockets and the Fertitta family, who understand that by embracing bitcoin, companies and brands can build loyalty with this expanding and influential customer base,” said Kelly Brewster, chief marketing officer of NYDIG. “The Rockets will be #PaidInBitcoin, and this partnership underscores our excitement about the Houston area and the Bitcoin innovation taking place there. NYDIG’s partnership with the Fertitta family, across their businesses, will significantly accelerate its goal of making bitcoin accessible to all.”

Landry’s Inc., of which Rockets owner Tilman J. Fertitta is chairman and CEO, recently partnered with NYDIG to implement bitcoin rewards as part of its Landry’s Select Club loyalty program. The partnership allows Landry’s Select members to earn bitcoin points when dining at any of the group’s 500 locations nationwide. Landry’s restaurants have been rolling out bitcoin payment acceptance throughout 2021.

In addition, Fertitta’s Post Oak Motor Cars dealership also partnered with NYDIG by allowing customers to purchase luxury automobiles financed through loans secured by bitcoin. Fertitta began accepting cryptocurrency payments at his Houston-based dealership in 2018.

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Patrick Mahomes was among those freaking out about today’s Bitcoin/cryptocurrency crash

Mahomes used a perfect GIF from The Office to sum up a rough morning in the crypto world.

It’s been a very volatile morning in the Bitcoin/cryptocurrency world today with investors losing lots of money thanks to a big crash that saw Bitcoin dip to $30,000 before making a bit of a comeback.

I’m not about to sit down and tell you why and what is going on because that’s just not my world. I don’t know what’s going on here. I’m not the smartest fella when it comes to crypto. You can check this story out for details and whatnot.

But I am here to show you that this crash, which had a lot of people freaking out, has been noticed by Patrick Mahomes, who must have some money in the game.

The Chiefs QB sent out this perfect tweet Wednesday morning:

I’m guessing that’s how a lot of people feel right now.

By the way, here’s how rough it has been:

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Bitcoin and other cryptocurrencies crash and everyone’s flipping out

Uh-oh.

Oh boy. Is Wednesday the day when Bitcoin and other cryptocurrencies completely crash and never rise to the high prices they were at?

That’s a big question for investors as prices took a nosedive — Bitcoin went below $37,000 for the first time in months, down some 20 percent at certain points. Ethereum took a dip, as did Dogecoin.

What’s the deal here? The buzz seems to be focused on two events: Tesla CEO Elon Musk announcing last week that his company won’t accept Bitcoin as payment due to the use of fossil fuels for mining the cryptocurrency. Let’s look at what’s happened and the reaction to it.

Chiefs TE Sean Culkin to become first NFL player to convert full salary to Bitcoin

Culkin follows Russell Okung, who was paid half of his $13 million salary in Bitcoin in 2020.

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Kansas City Chiefs TE Sean Culkin announced on Twitter that he plans to covert the entirety of his $920,000 salary for the 2021 NFL season to Bitcoin. He’ll become the first NFL player to have his salary paid entirely in Bitcoin and follows former Panthers LT Russell Okung, who had half of his 2020 salary paid in Bitcoin.

Speaking with CoinDesk’s Danny Nelson, Culkin revealed that the Chiefs are aware of his plans and that his contract is still denominated in dollars. Culkin, who signed a reserve/future deal with Kansas City back in February, will reportedly use an app called Strike to convert his salary to Bitcoin. This is the same service used by Okung in 2020.

Part of Culkin’s decision to be paid fully in Bitcoin is because it’ll allow him to focus on football. He’ll need to make the Chiefs’ roster or practice squad in order to enact his plan of being paid fully in Bitcoin. His reserve/future deal with Kansas City is non-guaranteed.

“This is generational for me,” Culkin said, via CoinDesk.

As of April 26, 2021, 1 Bitcoin is equal to roughly $53,625.00 USD. Back in 2010, 1 Bitcoin was worth roughly $0.08 USD. Should he make the team, Strike will automatically convert Culkin’s paychecks each week.

“For me, it makes sense to get paid in the hardest form of currency, and it’s something that is resistant to inflationary pressures that I think is very relevant in this current economic environment,” Culkin said, via CoinDesk.

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Chiefs TE Sean Culkin to become first NFL player to convert full salary to Bitcoin

Culkin follows Russell Okung, who converted half of his $13 million salary to Bitcoin in 2020.

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Kansas City Chiefs tight end Sean Culkin announced on Twitter that he plans to convert his entire salary for the 2021 NFL season — $920,000 — to Bitcoin. He’ll become the first NFL player to do so; former Panthers left tackle Russell Okung converted half of his $13 million salary for last season to Bitcoin.

Speaking with CoinDesk’s Danny Nelson, Culkin said the Chiefs are aware of his plans and that his salary is still paid in dollars. Culkin, who signed a reserve/future deal with Kansas City back in February, will use an app called Strike to convert his salary to Bitcoin, according to CoinDesk. This is the same service used by Okung in 2020.

Culkin said his decision will allow him to focus on football. He’ll need to make the Chiefs’ roster or practice squad in order to enact his plan, however; His reserve/future deal with Kansas City is not guaranteed.

“This is generational for me,” Culkin said, via CoinDesk.

As of April 26, one Bitcoin is equal to roughly $53,625 U.S. dollars. Back in 2010, one Bitcoin was worth roughly 8 cents. Should he make the team, Strike will automatically convert Culkin’s paychecks each week.

“For me, it makes sense to get paid in the hardest form of currency, and it’s something that is resistant to inflationary pressures that I think is very relevant in this current economic environment,” Culkin said, via CoinDesk.

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NBA Top Shot collectors pay $208K for LeBron James moment

A moment featuring LeBron James sold for $208,000 earlier this week on the NBA’s new blockchain collectible site, NBA Top Shot.

LeBron James collectibles have always been among some of the most valuable in the world sports collectibles. And the same concept rings true in the latest model for NBA collectibles, NBA Top Shot. In the span of one day, two LeBron James moments on Top Shot sold for six-figure sums, including one which sold on Monday for a stunning $208,000, which is the largest single sale so far on Top Shot.

The moment that was bought for the high number was LeBron’s iconic dunk against Nemanja Bjelica in the early part of last year’s championship season for the Lakers. The moment is one of just 49 moments made, according to Top Shot.

There has been a lot of work done recently on what NBA Top Shot is that would do a better job than I would of describing what it is in-depth. The value of the individual moments has skyrocketed in recent weeks and hype around the release of the individual packs has made them events of their own.

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