How Cryptocurrencies have Dominated the Motor Racing Industry!

MADE IN CANVA

Motor racing is one of the first mainstream industries to hop on the train of cryptocurrencies. From providing NFTs to fans to paying drivers of NASCAR in cryptocurrencies, the industry is accepting every aspect of the growing market.

Dogecar crashes in conjunction with its Market Price!

The Dogecar has already been part of NASCAR since 2014 when it raced in the Talladega Superspeedway race. This was a historical moment for dogecoin supporters as the Reddit community advocating for dogecoin contributed 67million Doge (worth $55,000 at the time). This was done after the community identified that the driver of the car(#98 Moonrocket), Josh Wise needed financial support.

This year, earlier in March driver of the newly made Dogecar Pinguino, has also been delving into the NFT craze. She has been a vocal supporter of Dogecoin long before most people were aware of the currency. In addition to appreciating Elon Musk’s “influence” over the much-loved meme token.

 — @Motorsport

NASCAR Xfinity Series Race in Nashville featured the “Dogecar” driven by Stefan Parsons. The Dogecar’s highly anticipated NASCAR debut ended with a crash and a sideways finish. Although this crash did end up landing it in last place, people were glad to see more hype around the cryptocurrency. Avid dogecoin followers were desperately trying to get as many eyes as possible by getting the hashtag “Dogecar” trending on Twitter. Elon Musk did not tweet anything in support of the Dogecar which came as a surprise to people who were expecting a comment from him regarding the whole event. However, this has served him well as dogecoin prices soon began to dip by a lot. Considering the trajectory of NASCAR, this is certainly not the last time we will get to see a Motor Race promoting prominent cryptocurrencies.

Indy500’s Bitcoin-sponsored car steals the show!

Ed Carpenter Racing’s orange and black No:21 Bitcoin Chevrolet featured in the 105th edition of the Indianapolis 500 earlier this month, driven by Rinus VeeKay. The race had 33 cars competing in a 200 lap race to claim the esteemed title of Indy 500 winner where it came in 8th place. This was made possible with the help of crowdfunding which invited many popular crypto investors to display their support for the currency. Team owner Ed Carpenter has been a long supporter of Bitcoin and is looking to inform the Motor Racing community about cryptos. He is not just doing this for the team but also for people around the world looking for an alternative to traditional currencies.

Landon Cassill is another enthusiastic individual associated with NASCAR, formally the professional stock car racing driver who drives the JD Motorsports’ No:4 Chevrolet. He has revolutionized the industry by bringing on a cryptocurrency platform to sponsor the car. Voyager digital, a crypto-trading platform has been the first to hop on this exciting opportunity. The sponsorship will be paid completely in cryptocurrency. Landon is way more into cryptocurrency than most would think, from being a miner to an active trader. He is also not too surprised by the merge of the two industries as it was becoming more and more inevitable as the Crypto Space continued to grow.

From formula1.com

McLaren and Porsche jumping into the NFT market!

Tezos has partnered up with popular F1 team, McLaren Racing. This merger will include minting NFTs of iconic races and having the logo of Tezos displayed on McLaren cars. This is not the only partnership that the F1 team is undergoing as it has also decided on creating fan tokens with the help of Bitci.com.

Porsche has taken a different approach to the NFT merger by issuing soccer athletes as tokens rather than cars on Fanzone which was built from Porsche’s digital subsidiary Forward 31. All the ERC20 tokens are unique and verifiable with the help of the Lukso blockchain. Fanzone is a strong proponent of being environmentally conscious as it donates part of its transaction costs to environmental projects.

PUBLISHED BY

DWAYNED’CUNHA, WRITER ON MEDIUM.

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