UK-based Assetereum Crypto Currency has agreed to become title sponsor of snooker’s 2018 World Seniors Championship in what is believed to be the first deal of its kind.
The firm will award 10,000 Assetereum cryptocurrency coins to the winner of the tournament, which takes place in Scunthorpe, England, from March 20-24.
Assetereum will also hand over 5,000 of its crypto currency coins to the runner-up, as well as multiply the highest break made at the event by 30 and convert this into Assetereum coins.
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, chief executive of Assetereum, added: “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.”
In addition to taking away 10,000 Assetereum crypto currency coins, the winner of the event will proceed to the qualifying round for the World Championship.