- Whereas El Salvador nonetheless evaluates paying salaries through Bitcoin,
NASCARracing driver Landon Cassill has taken the plunge.
- It is not stunning to see Cassill make the primary transfer, as he is at all times been a crypto fanatic.
System Oneis taking a step ahead with McLaren Racing unveiling its plans to construct a non-fungible token (NFT) platform on the Tezos blockchain.
Cryptocurrencies are present process a course of known as normalisation — it implies that strategies that have been as soon as uncommon at the moment are turning into the norm. After
football and wrestling leaping onto the bandwagon, racing bigwigs NASCAR and
Formula One are taking the plunge as nicely.
Whereas El Salvador — the primary nation to just accept Bitcoin as authorized tender — remains to be evaluating whether or not or not it ought to dole out salaries within the type of
cryptocurrency alternate Voyager to obtain an entire cryptocurrency-backed compensation package deal.
Which means that he will likely be paid by means of digital belongings like Bitcoin and Litecoin solely. Whereas the racer did not reveal the quantity, he did disclose that Voyager was paying the ‘market fee’ regardless of an unorthodox cost methodology. Cassilll’s sponsorship deal consists of 19 races, with the primary one starting at Nashville Superspeedway.
In the meantime, System One is taking a step ahead with McLaren Racing
unveiling its plans to construct a non-fungible token (NFT) platform on the Tezos blockchain.
The platform will checklist NFTs illustrating McLaren Racing’s historical past, heritage, and well-known drivers. It consists of all kinds of digital belongings or media information like artwork, music, digital buying and selling playing cards, memes, tweets, and far more. An
NFT supplies provable possession and shortage of an asset, not directly including worth to it.
Landon Cassill has been a very long time supporter of cryptocurrencies
It is not stunning to see Cassill make the primary transfer, as he is at all times been a crypto fanatic. His Twitter
feed is crammed with crypto information, and he has beforehand spoken about mining Bitcoins in his basement. As well as, Cassill has lengthy been an
evangelist of the Litecoin Basis and is a detailed buddy of the cryptocurrency’s creator, Charlie Lee.
“Landon has been a robust supporter of Litecoin and
cryptocurrencies for numerous years, and this landmark deal exhibits the rising attain of the Litecoin group into the skilled sports activities world and, ultimately, past,” Lee stated in an announcement. Cassill stated that he would possibly use the crypto in numerous methods and is not sure if he’ll maintain, use or promote.
Tezos pulls in its second System One staff
Tezos is an open-source
blockchain for belongings and purposes which might be repeatedly evolving with new upgrades. It is primarily based on the proof of area idea, in contrast to Bitcoin’s proof of labor mannequin, which requires an amazing quantity of power.
Earlier than McLaren got here into the image, Redbull’s System One staff additionally teamed up with the blockchain to leverage NFTs round three weeks in the past.
Furthermore, System One and Animoca have a blockchain recreation known as F1 Delta Time. Final yr, the sport developer began auctioning NFTs for official staff automobiles as collectables.
Racing is simply the newest sport to dive into world of cryptocurrency
Whereas Bitcoin has been round for nearly a decade, it only in the near past gained
acceptance as authorized tender in El Salvador. Not way back, the fever reached Wall Road, and we’re now seeing cryptos being bundled with Change Traded Fund
Equally, the feeling can now be felt in sports activities, with increasingly people and types getting on board. Soccer
teams like Manchester Metropolis, PSG, Barcelona, and AC Milan have launched their very own tokens, they usually have a novel use case. Followers can leverage these tokens to take part in a membership’s decision-making course of, promotional campaigns, video games, votes, and extra.
Likewise, AEW star MJF turned the primary professional wrestler to launch his personal cryptocurrency.
Here’s how El Salvador’s Bitcoin experiment is playing out so far — the good, the bad and the ugly
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