CryptocurrencyMetaverseNFT

Popular Auto Racing Firm NASCAR Introduces Its Own NFT Marketplace

The emerging automotive industry has focused its attention on a future that will be overwhelmed with cryptocurrencies. NASCAR, one among the initial auto racing and organizing firms across the globe, is the new example in this regard. It is specified for its close connection with collectibles which are the craze of its fans. Nonetheless, the further move for the company is its metaverse collectibles. Recently, a partnership was formed between Speedway Motorsports (the firm owning eight tracks of NASCAR) and GigLabs for a unique marketplace of NFTs. The name of the earliest NASCAR-based marketplace of NFTs is RaceDayNFT.com. Its launch is expected on Monday, a week before the playoff race of the Cup Series at Bristol-Motor-Speedway.

NASCAR’s venture into NFTs

Mike Burch, Speedway Motorsports’ topmost security officer, spoke his viewpoint about the latest development. He stated that collecting has constantly been a prominent portion of the fandom of NASCAR. Therefore, the company is considering revolutionizing its business. Keeping in view the fans’ reactions, Burch expects that there will be limitless opportunities in the coming future. NFTs might be included in those along with the other entities of NASCAR like the NHRA or IndyCar Series.

At the opening of the latest marketplace, RaceDayNFT, there will be the availability of 10,000 commemorative ticket NFTs that will be available without any charge for the subsequent Bristol race. From those, golden tickets will be included in 500 NFTs randomly. Burch stated that sound or audio effects would be featured by the respective NFTs. Four races are included in the event, so four will be the components of the digital collectibles, and a commemorative ticket is one of them. All of the event’s spectators are permitted to scan the corresponding QR code to open additional possibilities regarding NFTs.

Cars and crypto

Previously in this year, Landon Cassill (a NASCAR driver) was the initial in the organization to get paid completely in crypto. Cassill himself remarked on the non-fungible tokens (NFTs) and their impact on the industry. He added that NASCAR is providing significant privileges to its consumers and fans that is a positive factor in maintaining its success. A significant role is played by these NFTs in interlinking the fans, drivers, and race in a distinct way, unlike previously.

In the recent summer, BMW (another giant in the industry of auto motives) released an NFT series. The focus of these NFTs is the digital collectibles of the company’s iconic car models. The industry is increasingly accepting crypto after NASCAR’s NFTs and marketplace.

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