cryptocurrency

First, a fishing competition with a $1 million cryptocurrency prize.

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Fishermen, take a look here. Crypto’s ascension into the sporting world shows no signs of abating. Now, a sports fishing competition has announced that the top prize of $1 million would be won in bitcoin.

One of the largest first-place rewards for saltwater anglers has been announced by the Sport Fishing Championship (SFC). It will be worth $1 million in cryptocurrency. The winner of the Billfish Division will receive this haul.

Billfish are big predatory fish with a “bill” that they use to slice and shock their prey. Marlin, sailfish, spearfish, and swordfish are the most frequent billfish.

There are also championship tournaments in which the winner is determined by catching the heaviest Mahi Mahi, Wahoo, or Yellowfin.

The prize for fishing

The lucky contestant who catches one of these sea monsters will be rewarded later in 2022. The SFC claims that this is the first North American sports tournament to award its grand prize in bitcoin. For saltwater fisherman, the reward is one of the largest in the world.

The Billfish Division event begins in April 2022 with the Louisiana Gulf Coast Billfish Classic and concludes in August with the San Juan International Billfish Tournament.

“Our one million dollar cryptocurrency prize not only creates an exciting incentive for our competitors, but it also sets a new benchmark for the top award issued by a fishing championship and offers our winners the flexibility of receiving their prizes in digital currency,” said Sport Fishing Championship commissioner Mark Neifeld.

The SFC and CBS Sports Network are broadcasting the competition live from the boats participating in the competitions. Fans can also view whole tournament coverage here. Sports and cryptocurrency adoption

Crypto has made huge inroads into the sporting world. Prizes at a recent chess competition included cryptocurrencies and an NFT trophy. This is just one example of how cryptocurrency companies are beginning to sponsor major sporting events.

Other collaborations between cryptocurrency companies and sports have lately made headlines. The naming rights to the Los Angeles Arena, home of the Los Angeles Lakers, were recently purchased by Crypto.com. The contract is for 20 years and is worth $700 million. Formula 1, which is controlled by Liberty Media, has also collaborated with Crypto.com. This was a $100 million transaction.

Chiliz, a blockchain fintech service, assisted several of the world’s major football clubs in creating fan tokens. Barcelona, AC Milan, Galatasaray, Paris Saint-Germain, AS Roma, and Juventus were among the teams represented.

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