TruGolf and D3 Sports Tech plan to collaborate on enhancing golf gaming experiences with skills-based wagering technology.
Quiver AI Summary
TruGolf Holdings, Inc. has announced a strategic collaboration with D3 Sports Tech to enhance the experience of golf and multisport arcade games through peer-to-peer skills-based wagering. This partnership aims to incorporate gamified elements into TruGolf's technology, increasing player engagement and providing insights through advanced game analytics. The integration will allow players to participate in real-money contests and expect improvements in tournament and challenge operations globally. Both companies are committed to leveraging technology for more immersive experiences, with D3 Sports Tech's digital wallet solution enabling legal wagering and enhancing the enjoyment of golfing simulations for users.
Potential Positives
- TruGolf has entered into a strategic collaboration with D3 Sports Tech to enhance gameplay through skills-based wagering, promising more engaging experiences for users.
- The partnership will introduce gamified features and real-money challenges, utilizing D3 Sports Tech's certified digital wallet to manage compliant wagers across multiple platforms.
- This collaboration is expected to significantly boost player engagement, revenue, and brand loyalty for TruGolf by allowing users to compete and wager on various gaming experiences.
- D3 Sports Tech's solutions will enable TruGolf to operate tournaments and challenges in over 100 countries, expanding its market reach and potential user base.
Potential Negatives
- The partnership with D3 Sports Tech places TruGolf in the highly regulated fintech gaming space, which could pose legal and compliance challenges that might impact operations beyond its current expertise.
- The emphasis on cash-based gaming may alienate some traditional golf enthusiasts who prefer a more casual, non-wagering experience, potentially limiting market appeal.
- TruGolf's reliance on a partner for compliance in a competitive and evolving gaming market could impact its autonomy and decision-making capabilities moving forward.
FAQ
What is the new collaboration between TruGolf and D3 Sports Tech?
TruGolf and D3 Sports Tech are partnering to enhance gameplay with gamified experiences and skills-based wagering in golf technology.
How will the collaboration improve the golf experience?
The collaboration aims to create more immersive, engaging game challenges and incorporate real-money wagering, improving overall user experience.
What technologies will TruGolf utilize in this partnership?
TruGolf will leverage D3 Sports Tech's digital wallet and IBM's AI technology to provide realistic gameplay and compliance with gaming regulations.
What types of games can players participate in through this collaboration?
Players can join competitions like ‘Closest to the Pin,’ and engage in side games such as Nassau and Skins, both locally and remotely.
What is the benefit of the digital wallet solution?
D3 Sports Tech's digital wallet enables seamless wagering and spending in real-time across TruGolf’s ecosystem, enhancing player engagement and loyalty.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TRUG Hedge Fund Activity
We have seen 3 institutional investors add shares of $TRUG stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JANE STREET GROUP, LLC removed 17,135 shares (-100.0%) from their portfolio in Q2 2024
- PARKWOOD LLC removed 15,708 shares (-100.0%) from their portfolio in Q2 2024
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- GEODE CAPITAL MANAGEMENT, LLC removed 6,985 shares (-13.8%) from their portfolio in Q3 2024
- UBS GROUP AG added 3,422 shares (+83.0%) to their portfolio in Q3 2024
- TRAYNOR CAPITAL MANAGEMENT, INC. added 3,200 shares (+31.8%) to their portfolio in Q3 2024
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Full Release
Salt Lake City, Utah, Dec. 20, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, is excited to announce it has entered into a letter of intent to create a strategic collaboration with D3 Sports Tech, a pioneer in peer-to-peer skills-based wagering for sports. This collaboration will focus on innovations to enhance gameplay with more realistic and exciting experiences.
By leveraging D3 Sports Tech’s expertise in skills-based wagering and compliance, TruGolf intends to create more gamified experiences throughout its ecosystem for golf and multisport arcade games and franchises. The collaboration partnership will also elevate TruGolf’s advanced game and player data analytics to provide insights that increase engagement to ultimately provide more exciting virtual experiences that surpass what can be done out on the course.
“Golfers want to ‘play for something,’ just like when they are out on the course,” said Nate Larsen, CXO of TruGolf. “Having something on the line, whether it’s a beverage after the round or cash, makes the whole experience more meaningful, win or lose. We are thrilled to join forces with D3 Sports Tech to bring new features to our game challenges and provide all our users with an even more immersive and rewarding experience.”
Golf Datatech reports, “There is no participation sport in the United States that is as closely connected with wagering than the game of golf,” said John Krzynowek, co-founder of Golf Datatech. “Most recreational golfers wouldn’t consider playing a round of golf with friends without some kind of bet on the outcome, whether it was for a beer, a $5 Nassau, or something more significant. In fact, handicaps by their nature are an attempt to level the playing field and allow a +1 handicap and a 15 handicapper to compete head-to-head and still have a friendly match, very often accompanied by a wager.” The report also highlights that 84% of total respondents (from their 2022 study) are likely to wager on their own golf game while playing.
D3 Sports Tech specializes in turn-key digital wallet solutions that provide the required FinTech legal compliance for skills-based gaming with cash payouts in over 100 countries. Their state-of-the-art Digital Wallet with Wagering as a Service will be seamlessly integrated into TruGolf’s simulators through 3 simple APIs that ensure reliable and compliant challenges for real-money. D3’s solution has been certified by both the Nevada and New Jersey gaming boards which ensures Players can legally challenge others and play for something like they do on course, with the added benefit of using those funds to spend immediately in real time across TruGolf’s ecosystem. Players will be able to join a ‘Closest to the Pin’ contest against friends in the room, or across the globe. They will be able to play side games like Nassau, Skins, or Dots in person, or remotely with a friend on the other side of the country.
“We are excited to partner with the team at TruGolf,” said Tom Naramore, CEO of D3 Sports Tech. “Their advances in technology that provide more realistic experiences, together with their use of AI through watson.ai technology from IBM, complements our vision for the future where we are having more fun and leveraging technology for more immersive experiences.
“Both companies are committed to delivering what no one thought possible in golf simulation technology just a few short years ago. D3 Sports Tech’s patent pending digital wallet services & compliance engine will enable TruGolf to operate tournaments, contests and challenges in over 100 countries including 46 US states. This collaboration will bring a new level of player engagement and revenue and loyalty to TruGolf’s brand, helping golfers of all levels improve their game and enjoy the sport even more.” added Naramore. With the D3ST enterprise fintech solution, TruGolf can collect up to a 15% game admin fee, power loyalty programs, and grow E-commerce as players spend through their cash-less digital wallet for wagering.
About TruGolf Holdings
TruGolf is a golf technology company, committed to making golf, easy.
From innovative uses for AI
to build content and enhance its image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since its founding, TruGolf has redefined what is possible in golf through technology. TruGolf’s suite of Hardware, Software, and Web Products make it easier to Play, Improve, and Enjoy the game of golf.
About D3 Sports Tech
D3ST is a B2B sports tech development company that builds products that allows for players to compete and play for something. Since the company’s inception in 2018, they have focused on their technology for golf wagering and fan engagement. In 2023 they built a licensable digital wallet for wagering, allowing any skill-based game to settle wagers legally.
Forward-Looking Statements
Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the timing and completion of the reverse split. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained in the Company’s reports filed with the SEC, which are available on the SEC’s website,
www.sec.gov
.
For more information about the partnership and upcoming innovations, please visit TruGolf.com and D3SportsTech.com.
Media Contacts:
TruGolf:
Michael Bacal: Phone: 917-886-9071;
mbacal@darrowir.com
Web: TruGolf.com LinkedIn: @TruGolf
D3 Sports Tech
Scott Keith, Chief Marketing Officer Phone: 833-926-2238 Web: D3SportsTech.com LinkedIn: @d3-sports-tech
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