Through a sponsorship deal with Voyager, Landon Cassill will become the first NASCAR driver to be paid entirely in cryptocurrency for 19 races.
This weekend’s NASCAR race at the Nashville Superspeedway will mark a first in the sport. According to the Associated Press, Landon Cassill will be paid his whole earnings for the NASCAR Cup Series race at Nashville in Litecoin and other cryptos. Cassill signed a new deal with crypto brokerage platform Voyager for a 19-race sponsorship deal for the Xfinity Series.
Voyager will pay all of Cassill’s earnings and/or winnings upon his request. Cassill has been involved in crypto investing for years according to Voyager CEO Steve Ehrich. The two met at a crypto conference a couple of years ago. Cassill was speaking on a panel at the conference and pitching his sponsorship idea. The racer has been invested in cryptos for a number of years and has seen enough gains to warrant the unique sponsorship deal. “Landon Cassill’s focus and determination on the race track translates across everything he does,” stated Ehrich.
The Voyager CEO further stated “Landon also shares our vision of widespread crypto adoption, and we’re proud to be the first company to secure a primary NASCAR sponsorship completely with crypto.”
Full salary in BTC and LTC
Cassill stated that his sponsorship with Voyager pays the standard sponsorship rate with the only difference being how the funds are distributed. The payments will come in the form of a digital asset portfolio that includes Litecoin and Bitcoin. “I can trade it out, right away before the market changes or hang on to it as the market goes up or goes down, carve out a little bit, pay my bills with it and hold the rest,” said Cassill.
Cassill adds that he is not the only driver in NASCAR that is into crypto but asserts that he is the veteran of the group.
Motorsports racing toward adopting cryptocurrency
The cryptocurrency market and sports have been working in tandem for years but motorsports are a little late to the party. The racing world did make a spectacular entrance, however. Bitcoin had a big debut at the Indianapolis 500 as Rinus VeeKay’s primary sponsor. A week later, the racing team was spotted at a Bitcoin convention in Miami.
Another project is the racing NFTs that teams like Aston Martin and McLaren have created for Formula 1 fans. The McLaren news was just announced this morning and has them teaming up with Tezos as technical partners.
McLaren is planning to use Tezos’ energy-efficient and customizable network to develop an NFT collection that covers F1, INDYCAR, and eSports racing. Meanwhile, Aston Martin is launching fan tokens along with Alfa Romeo for Formula 1 fans on the Socios app.