Algorand will take over title rights for the Drone Racing League starring with its upcoming season.
The Drone Racing League has inked its biggest sponsorship deal to date with cryptocurrency platform Algorand. According to a press release from the league, the deal is worth $100 million over the next five years. The exact terms of the deal were not shared. The announcement does state that over the course of the next five years, Algorand will earn title rights to the Drone Racing League World Championship tournament. The league will also integrate into the blockchain network and utilize Algorand to broadcast events and showcase social media and streaming channels.
CEO of Algorand, Steve Kokinos said about the pairing that “Algorand and the Drone Racing League are the most technically advanced, disruptive and visionary organizations in blockchain and sports respectively. We are excited that DRL will leverage Algorand’s technology to create immersive in-game experiences and introduce millions of technology enthusiasts to the possibilities that blockchain can bring to racing and to sports as we know them today.”
Drone Racing expanding its fan base
For those new to Drone Racing, the league pits drone pilots against one another who race through technical courses for cash and prizes. The league says that bringing blockchain tech to drone racing is “a bullseye for the league’s ‘tech-setter’ fans, who are early adopters, open-minded to new forms of entertainment, and 40 times more likely to follow and engage with crypto social media than the general population.”
In the official announcement, Drone Racing League President Rachel Jacobson said that “Algorand shares our values of speed, innovation, and inclusivity. As the largest partnership in DRL’s history, we have ambitious plans to deliver a unique sports experience in the metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.”
The next big event for the league is the 2021-22 World Championship Season, combining eSports and real-world drone racing into a single event. Locations for races include Minnesota and Memphis, along with virtual courses live in the U.S. Air Force Boneyard. The Drone Racing League Season launches on September 29 and can be viewed live on Twitter.