CHARLOTTE, N.C. — Landon Cassill would be the first NASCAR driver paid totally in cryptocurrency in a sponsorship cope with Voyager that begins at Nashville Superspeedway this weekend.
Voyager, a cryptocurrency brokerage platform, reached a 19-race deal to sponsor Cassill within the Xfinity Collection in his JD Motorsports entry. Voyager can pay the funds in Litecoin to Cassill, who has been avid available in the market for a number of years.
Cassill, 31, first met Voyager CEO Steve Ehrlich at a crypto convention two years in the past when Cassill was talking on a panel. He’d been pitching the sponsorship thought ever since.
“Landon Cassill’s focus and willpower on the race monitor interprets throughout every thing he does,” mentioned Ehrlich. “Landon additionally shares our imaginative and prescient of widespread crypto adoption, and we’re proud to be the primary firm to safe a major NASCAR sponsorship utterly with crypto.”
Cassill mentioned Voyager is paying “market charge” for the sponsorship however the funds might be distributed in crypto. He mentioned the fee is a “portfolio of digital belongings” that features Litecoin and Bitcoin priced at market charges.
“I can commerce it out instantly earlier than the market adjustments or cling on to it because the market goes up or goes down, carve out a bit of bit, pay my payments with it and maintain the remaining,” he mentioned.
Cassill mentioned he is been invested in cryptocurrency for a number of years and seen “important beneficial properties” to his private portfolio. He mentioned he had no hesitation in placing collectively a deal that may pay crypto as a substitute of chilly laborious money.
“There is a handful of drivers which can be into crypto, however I am in all probability one which’s been in it for lengthy sufficient that is I am fairly comfy with the way it works,” Cassill mentioned.
The crypto market is simply starting to hit motorsports and Bitcoin had a high-profile debut on the Indianapolis 500 as the first sponsor for Rinus VeeKay. The weekend after the IndyCar race, VeeKay, Conor Daly and Ed Carpenter had been in Miami attending a Bitcoin conference.
“Crypto platforms use quite a lot of social media and neighborhood constructing as advertising,” Cassill mentioned. “The massive corporations have not finished quite a lot of nationwide advert campaigns, so for Voyager to go after a nationwide advert marketing campaign is an indication that the area is admittedly beginning to department out.”