NASCAR Releases NFTs and Its Own Marketplace
NASCAR is the world-famous auto racing and operating company launches its very own NFT marketplace, along with thousands of free commemorative NFTs.
The automotive industry is yet another with its sights set on a crypto-filled future. NASCAR, one of the world’s premier auto racing and operating companies, is the latest example. The company is known for its extensive relationship with collectibles and NASCAR fans are all about them.
Speedway Motorsports, the corporation which owns 8 NASCAR tracks, partnered with GigLabs on a new NFT marketplace. RaceDayNFT.com is the first NASCAR-centric NFT marketplace. It launches on Monday at 1 p.m. ET a week prior to the Cup Series playoff race at Bristol Motor Speedway.
Depending on the reaction from fans, Burch calls future opportunities “limitless”. This may include NFTs with other NASCAR entities, such as the IndyCar Series or NHRA.
When the new RaceDayNFT marketplace opens, 10,000 commemorative ticket NFTs for the following Bristol race will be available for free. Of those, 500 will randomly include golden tickets. The NFTs feature audio or sound effects according to Burch.
There are four races and therefore four components to the digital collectibles, with the commemorative ticket as one. Any attendees of the event can scan a QR code, which opens up more NFT possibilities.
Crypto and Cars
Already, NASCAR experienced crypto infusions into the industry. Earlier this year NASCAR driver Landon Cassill was the first in the company paid entirely with crypto. The company introduced digital tickets and race programs which garnered positive responses from fans.
Cassill himself commented on the impact of non-fungible tokens in the industry.
“If NASCAR entities can create a way that’s understandable and is not intimidating and make sense and gives those fans ownership over the things that they love — the drivers, the teams, the tracks that they love — I think it could definitely succeed, as long as it strengthens the community and empowers those race fans.”
These NFTs play a large role in connecting fans with the race and drivers like never before. The rarest NFT available in this series are two Winner’s Edition NFTs as digital coins. One goes to the winner of the race, the other to the highest bidder.
According to Douglas Dimola, GigLabs CEO and co-founder, “[The coin] have the track on one side and the winner and date on the other side. So the person who wins the auction will essentially have an NFT that they share with the winning driver.”
