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Companies from the NFT sector are now sponsoring motorsports events

Companies from the NFT sector are making their way into the world of motorsport sponsorship, and it’s clear that they’re eager to upend the status quo.

Racing for Laura-Marie Geissler

NFT startup Unblocked teamed together with creative firm Amsterdam Berlin and GT racer Laura-Marie Geissler to create the first of its type. Laura-Marie Geissler’s racing team, the LMGs, will be the first to get NFT funding.

With no external sponsors, the LMG racing team has decided to completely support Geissler’s race season via the selling of NFT tokens. As of this time, Geissler has completely entrusted her racing future to the fans and NFT devotees.

Companies from the NFT sector are now sponsoring motorsports events

During the first weekend of the South by Southwest (SXSW) festival in Austin, Texas, USA, Geissler and her team announced the debut of their campaign. On the subject of her motivation, Geissler told Cointelegraph that “it’s hard for women to ask people for money because it becomes a very transactional relationship. When I was trying to find a method to make people appreciate me for more reasons than simply being a woman or having a specific appearance, it was tough to strike a balance.”

One of the most thrilling and dramatic ways to raise money for a racing season is via an NFT campaign.

New York City, Amsterdam, and Berlin

Amsterdam Berlin is one of LMG’s major partners in its NFT initiative, and Moritz Grub had a lot to say about the collaboration that was both exciting and enlightening. The racing industry, according to Grub, is a “macho” and “male-dominated” one.

If more female-led businesses and corporations invested in racing, maybe there would be more female fans and watchers. ” Here’s what Grub from Amsterdam Berlin had to say about the project’s connection with NFTs and why the team opted to take this unorthodox approach.

In my opinion, it’s an intriguing technology that isn’t being used to its full potential right now.” NFT PFP-based initiatives may be considered “schemes,” according to the author. It seems to Grub that using an NFT-based crowdfunding system for racing teams allows riders and corporations greater autonomy over how they spend their cash and what decisions they take.

Companies from the NFT sector are now sponsoring motorsports events

In the Motorsport Industry, the Future of Web3 Companies

Although still in its infancy, next-generation tokens (NFTs) are steadily proving to be a powerful instrument for democratizing access to capital across a broad variety of businesses. Racing enthusiasts have been wondering for months when the first big NFT-related initiative will be done in one of the main motorsport leagues. Due to a cooperation with the FIA, Formula One became one of the major racing organizations to use NFTs in 2019. This shows how open and adventurous the industry’ owners are to experimenting in new areas.

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