The Sunshine Tour has announced that Luno, the global cryptocurrency platform, is the new sponsor of the tour’s Order of Merit.
In announcing the new sponsorship, the Sunshine Tour also unveiled a new format for the Luno Order of Merit for the upcoming 2022/2023 season, as it shifts from a money-based order of merit to the more globally-recognised points-based ranking system.
The Luno Order of Merit also offers some new incentives for Sunshine Tour professionals.
The leading golfer on the Order of Merit at the end of the season will receive R500,000 in bitcoin, paid directly into the golfer’s account. The second-ranked golfer will receive R200,000 in bitcoin, and the third-ranked golfer, R100,000 in bitcoin.
“Luno is focused on empowering people by building a new financial system that is easily accessible, meets the challenge of a constantly evolving world, and is more suited to the digital age,” said Marius Reitz, Luno GM for Africa.
Thomas Abt, Sunshine Tour commissioner, said: “Luno is a brand which fits our strong digital focus and the new, younger audience we are reaching, and we are delighted to welcome them to the Sunshine Tour.”
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The new points system for the Order of Merit came into effect on 30 April. Points will be allocated according to the tournament prize money on offer as follows:
Tier 1 tournament (prize money up to R2m): 2,000 points.
Tier 2 tournament (prize money between R2,000,001.00 and R5,999,999): 4,000 points.
Tier 3 tournament (prize money between R6m and R10m): 6,000 points.
Tier 4 tournament (prize money between R10,000,001 and R19,999,999): 10,000 points.
Tier 5 tournament (prize money of R20m or more): 12,000 points.
Luno is a global cryptocurrency company “on a mission to put the power of crypto in everyone’s hands.” Headquartered in London with regional hubs in the US, Europe, Asia-Pacific and Africa, Luno now has a team of over 800.
Luno has over 10 million customers (wallets) spanning more than 40 countries. Its products and services make it safe and easy to buy, store and learn about cryptocurrencies like Bitcoin and Ethereum. Luno was acquired by DCG – the world’s largest blockchain investor – in 2020.