NASCAR enters NFT race with its own marketplace

The National Association for Stock Car Auto Racing (NASCAR), one of the most important competitions in the United States, will launch its collection of non fungible tokens (NFT) and its own marketplace for the sale and purchase of collectibles.

The initiative came from Speedway Motorsports, which owns eight NASCAR tracks and the platform for NFT, Giglabs.

The new marketplace, called RaceDay NFT, will go live on September 13, and will be based on Flow’s blockchain . This is a platform developed by Dapper Labs, which also runs the famous NBA Top Shop

collectibles.

The first release of collectibles in RaceDay NFT, will be a total of 10,000 free NFT. 9,500 of these will be in the form of an entry ticket to the Bass Pro Shops NRA Night Race, which will take place on September 18, according to

a statement.

Additionally, 500 NFT of golden tickets will also be available and will be randomly awarded to those who register on the platform.

The platform already allows you to register and view the NFTs, although no action can be taken yet. To register, it only asks for an email address, where a security code will be sent to validate the entry to the website.

Digital collections will be released during each race week. The next competitions will be the 2021 NASCAR Cup Series playoffs at the Bristol, Las Vegas, Charlotte and Texas venues.

NFTs look to bring fans to the track

NASCAR fans will have access to several NFTs. The first collectibles will be free and will feature the image of tickets. They can be claimed on Mondays before a race, there will also be a limited edition NFT and will go on sale the Thursday before the race.

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They will also release “At the Track Edition” NFTs, which will also be free and can be claimed while fans are at the track during the race via a QR code.

NASCAR enters NFT race with its own marketplace NASCAR enters NFT race with its own marketplace The 500 NFT gold tickets will be given out randomly on September 13. Source: racedaynft.

Finally, one of the most promising NFT is the “Winner’s Edition”. From this one, 1 of 2 NFT will be auctioned to the highest bidder, while the second one will be given to the highest bidder.

will go to the driver who wins the race. That is, the person who wins the auction will have an NFT whose audiovisual design will be the same as that of the winning driver.

In this regard, Mike Burch, director of strategy for Speedway Motorsports said that the NFTs are a tool to engage more NASCAR fans. Among other things, they believe that new technologies can attract a new generation of fans.

The executive also talked about a possible expansion of RaceDayNFT to other competitions, such as the IndyCar Series or the NHRA, but everything will depend on the success of NASCAR.

Bitcoin also runs on tracks like NFTs

The racing world, as well as NASCAR has, continues to increase its involvement in the cryptocurrency industry in one way or another.

Last May, CryptoNews reported that a car completely designed with a Bitcoin (BTC) theme, and also funded entirely with this cryptocurrency, competed in the prestigious Indy 500 race, the Indianapolis 500.

The vehicle was funded by a fundraising campaign organized by Jack Mallers, the entrepreneur and developer behind the Zap wallet and Strike payment service.

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