Landon Cassill is going to become the first NASCAR driver to be paid in cryptocurrency. As per his sponsorship deal with a cryptocurrency brokerage platform, his pay will come in the form of BTC and LTC.
The crypto company in question is called Voyager, which has recently brokered a deal to sponsor Landon Cassill in the 19 races of the NASCAR Infinity Series.
NASCAR Driver to Receive Salary in Bitcoin and Litecoin
According to his own statement, Cassill is going to be paid a standard deal for the sponsorship. The only thing that’s not standard about it is that the pay is going to come in cryptos.
Voyager will give Cassill his payment through a “portfolio of digital assets.” He is going to receive Bitcoin and Litecoin priced at market rates at the time of the payment.
The deal comes with no special caveats regarding the crypto assets. Cassill is allowed to do with them whatever he likes – he can keep them tucked away or convert them to fiat currency immediately.
It seems that his decision is going to be something in-between. As Cassill said himself, his plan is to “pay (his) bills with it and hold the rest.”
This isn’t the first time Cassill will get ahold of some cryptocurrency. A self-professed Bitcoin fan, the NASCAR driver has spoken about making significant gains through crypto trading.
In fact, he’s spoken about being involved with the world of cryptos for years, while his relationship with Voyager is some two years long. The idea to pay Cassill’s sponsorship in cryptocurrency came when the Voyager CEO Steve Ehrlich met the NASCAR star at a conference in 2019.
Even though he’s had plenty of experience with the crypto universe, the same doesn’t go for his colleagues. Cassill did say that NASCAR is full of cryptocurrency enthusiasts, although not many of them actually have a good understanding of how Bitcoin works.
Crypto Market Entering the World of Motorsports
The Cassill crypto sponsorship seems like a great move for Voyager. Apart from making NASCAR fans familiar with the brokerage company, the deal is also bound to arise more interest in cryptos among the general public.
The crypto market’s entrance to motorsports didn’t start with the Cassill deal, however. A few weeks ago, Bitcoin entered the stage at the Indy500 as the main sponsor of Rinus VeeKay, who’s driving for Ed Carpenter Racing Team.
The 105th edition of the Indianapolis 500 race featured a Chevy detailed in the logo of the world’s most popular cryptocurrency. The same was displayed on the suit of its driver and his team. As the Bitcoin logo has no copyright, they had the luxury to do with it whatever they wanted.
The number of the car was 21, an homage to the maximum supply of BTC, which is 21 million.
VeeKay’s car passed finish line eight, which isn’t a bad achievement, considering that there were 33 cars in the race. His teammate (and the team owner) Ed Carpenter, finished 5th.
Although Ed’s car had no BTC insignia, the driver too is a major crypto enthusiast. Evidence of this is that together with VeeKay, Carpenter went to a Bitcoin convention in Miami, just one week after the race.
That’s where he spoke of his hope about introducing Bitcoin as a payment service provider in motorsports, which, at the minute, is not an option.