The World Seniors Tour, announced in Dec 2017 by World Professional Billiards and Snooker Association, has inked a title sponsorship deal with crypto currency Assetereum for 2018 World Seniors Championship, to be held at The Baths Hall in Scunthorpe from 20-24 March 2018.
As part of the agreement, Assetereum will award 10,000 crypto currency coins to the winner and 5000 to the runner-up. They will also multiply the highest break made at the championships by 30 and convert that into their crypto currency coin.
Jason Francis, creator of the World Seniors Snooker Tour said: “We are delighted to have Assetereum on board and to my knowledge, this will be the first global sporting event that has been sponsored by a crypto currency. The addition of their coins to the prize fund could see this grow to be the largest snooker prize ever!”
Andy Papaiacovou, Assetereum CEO said: “We are delighted to be the sponsors of such a fantastic event and hope this is just the beginning of a long-term association with the World Seniors Snooker Tour. I have been an avid snooker fan since childhood and I am looking forward to seeing these great legends of the game battle it out again.”
The winner of the Assetereum World Seniors title will earn £10,000, 5000 crypto coins and a place at the 2018 Betfred World Championship qualifiers, with a chance to qualify to play at the iconic Crucible Theatre if they can win three best of 19 frame matches.
Crypto currencies are nowadays feared among the people worldwide because of its highly volatile nature, lack of authenticity and legal-backing regulations, and news of ban and crackdown by governments around the world.
Cryptos like Bitcoins and Ethereum are synonymous with huge price swings – a result of scarcity (only finite no. of BTs can be created, just 21m), enthusiasm among millennials and its association with get-rich-quick schemes.
However, this has not deterred Crypto currencies firms from launching humungous worldwide ICOs and luring potential investors with big spends on digital marketing campaigns.
Bitcoin was the first ever cryptocurrency launched ever in 2009 following a global financial crisis of 2007-08 and is currently the largest blockchain network, followed by Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin. There are now more than 50 active cryptos around the world since the advent of the digital currency market.
Assetereum, after its initial success in the utilities and online shopping sector, has entered the cryptocurrency market with former world snooker champion Joe Johnson as an advisor to the board.
Assetereum, based in Yorkshire UK, claims to be the first multi-asset backed cryptocurrency in the world and are keen to make their crypto currency affordable for anyone.