CHARLOTTE, N.C. — Landon Cassill would be the first NASCAR driver paid completely in cryptocurrency in a sponsorship take care of Voyager that begins at Nashville Superspeedway this weekend.
Voyager, a cryptocurrency brokerage platform, reached a 19-race deal to sponsor Cassill within the Xfinity Sequence in his JD Motorsports entry. Voyager can pay the funds in Litecoin to Cassill, who has been avid out there 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 the whole lot 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 fully with crypto.”
Cassill mentioned Voyager is paying “market fee” for the sponsorship however the funds might be distributed in crypto. He mentioned the fee is a “portfolio of digital property” that features Litecoin and Bitcoin priced at market charges.
“I can commerce it out straight away earlier than the market modifications or hold on to it because the market goes up or goes down, carve out a little bit 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 can pay crypto as a substitute of chilly exhausting money.
“There is a handful of drivers which are into crypto, however I am in all probability one which’s been in it for lengthy sufficient that is I am fairly snug 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 numerous social media and group constructing as advertising and marketing,” Cassill mentioned. “The large firms have not achieved numerous nationwide advert campaigns, so for Voyager to go after a nationwide advert marketing campaign is an indication that the area is absolutely beginning to department out.”