After Crypto Sponsors in NASCAR, Now Driver to Receive his Wages in Cryptocurrency

Published 06/18/2021, 9:40 AM EDT
Feb 27, 2021; Miami, FL, USA; NASCAR Xfinity Series driver Daniel Hemric (18) and Austin Cindric (22) lead the field to start the Contender Boats 250 at Homestead-Miami Speedway. Mandatory Credit: Jasen Vinlove-USA TODAY Sports


Last year, we saw crypto companies coming on board as sponsors in NASCAR. And now NASCAR driver Landon Cassill struck a deal with crypto platform Voyager. Over here, he will be making ground-breaking work as the the first NASCAR driver to receive his wages via cryptocurrency. This deal is expected to be in effect from this weekend onwards at the Nashville Superspeedway.

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The cryptocurrency brokerage platform penned a 19-race deal with Cassill in the NASCAR Xfinity Series. In this situation, the JD Motorsports driver will be paid in Litecoin. It is worth mentioning that Cassill met Voyager CEO Steve Ehrlich at a conference where the driver appeared as a panelist.

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“Landon Cassill’s focus and determination on the race track translates across everything he does,” said Ehrlich. “Landon also shares our vision of widespread crypto adoption, and we’re proud to be the first company to secure a primary NASCAR sponsorship completely with crypto.”

What else did NASCAR driver Landon Cassill say?

According to the driver, the brokerage platform is paying the “market rate”. However, the funds will be distributed in crypto. He revealed that the payment is a “portfolio of digital assets” which are priced at market rates. This is fairly useful as Cassill can trade it before the market changes or wait until the market stabilises.

May 16, 2021; Dover, Delaware, USA; NASCAR Cup Series driver Kyle Larson (5) leads the field on a restart during the Drydene 400 at Dover International Speedway. Mandatory Credit: Matthew OHaren-USA TODAY Sports

The 31-year-old admitted that he dipped a toe in the cryptocurrency market several years ago. Since then, he has witnessed a number of “significant gains” to his personal portfolio. This explained why he did not hesitate when striking a deal for the company to pay him crypto instead of cold hard cash.

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Cassill said, “There’s a handful of drivers that are into crypto, but I’m probably one that’s been in it for long enough that’s I’m pretty comfortable with how it works. Crypto platforms use a lot of social media and community building as marketing. The big companies haven’t done a lot of national ad campaigns. So for Voyager to go after a national ad campaign is a sign that the space is really starting to branch out.”

On an interesting note, Cassill is not the first racer to venture into the crypto market. Apparently Bitcoin made a high-profile debut at the Indianapolis 500 as Rinus VeeKay’s primary sponsor. In addition to that, VeeKay, Conor Daly and Ed Carpenter all attended a Bitcoin convention.

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DIVE DEEPER

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Dhruv George

11766 articles

Dhruv George is a senior Formula One and NASCAR analyst for EssentiallySports, having authored nearly 12000 articles spanning different sports like F1, NASCAR, Tennis, NFL, and eSports. He graduated with a PG Diploma in Journalism from the Xavier Institute of Communications. Dhruv has also conducted interviews with F1 driver Pierre Gasly and Moto2 rider Tony Arbolino.

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