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The New York-based Drone Racing League (DRL) has entered into a five-year sponsorship deal, worth an estimated $ 100 million, with crypto platform Algorand. As part of the partnership, DRL will unveil blockchain-enabled ticketing, collectibles, fan transactions, and non-fungible tokens (NFTs) on the Algorand platform. The ownership rights of the DRL World Championship circuit will remain in Algorand during this period.
In addition, DRL also plans to develop a Digital Drone Racing series integrated with Algorand’s blockchain network. This will allow businesses to showcase the power of blockchain through DRL’s broadcast, social and gaming channels.
The news comes as DRL kicks off the 2021-22 DRL World Championship season, which will combine the best of esports and real drone racing, starting September 29 at 8 p.m. EST on NBCSN and Twitter.
Drone racing and crypto: disruptive forces to innovate in sport
DRL says the merging of blockchain with drone racing is a target for its ‘tech-setter’ fans, who are early adopters, open to new forms of entertainment and 40 times more likely to follow and follow through. engage with crypto social media than the general population. . As such, the league looks forward to welcoming crypto developers, programmers, and coders to hackathon events at DRL races across the globe.
Emphasizing that the league’s global and tech-obsessed fans want the sport to constantly evolve, DRL President Rachel Jacobson points out that this is the largest partnership in DRL history:
We have ambitious plans to deliver a unique sports experience in the Metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.
Interestingly, a marriage between the crypto platforms of sports organizations is becoming more and more common. Football giant Paris St. Germain recently named crypto.com as its official cryptocurrency partner. Other big crypto.com sports partners include the UFC, Formula 1, Italian Serie A, and the Montreal Canadiens. Meanwhile, the FTX crypto exchange has secured the naming rights to the Miami Heat arena as well as the grounds of the University of California’s California Memorial Stadium under multi-year and multi-million contracts.
Steve Kokinos, CEO of Algorand, summarizes:
DRL will leverage Algorand’s technology to create immersive gaming experiences and introduce millions of tech enthusiasts to the possibilities that blockchain can bring to running and sports as we know them today.
Read more: 5G drone brings exclusive footage from MLB game Field of Dreams
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