NASCAR is set to launch their own NFT Marketplace, where users will be able to buy, sell and trade NASCAR NFTs. Racing becomes the next sport to step into the NFT game. Increasingly, major sports worldwide are joining the space – either through leagues or third party companies.
The First NASCAR NFT Launch
Their first launch is set to take place on racedaynft this upcoming Monday, 13th September at 1 pm EST. The collectibles are free of cost and are commemorative tickets for the upcoming 2021 Bass Pro Shops NRA Night Race. However, these are not valid tickets to the event on 18th September.
There are 9500 common collectibles available, and 500 rare collectibles. In total, they are giving out 10,000 free NFTs for this first launch. They are available through the Flow blockchain, like hugely popular NBA Topshot. The similarities don’t end here, as they are also set to accept credit cards via Stripe.
Why are NASCAR releasing NFTs?
Although it’s maybe not classed as a Top 5 sport worldwide – or in the US for that matter – there is still a huge market for the Auto Racing sport. Despite viewership numbers decreasing in general, their All-Star race at Texas Motor Speedway still pulled in 2.73 million viewers on Fox Sports 1. If we compare this to current users on the NFT marketplace, Opensea, then the numbers are astronomically higher. In August, Opensea had 140,000 unique wallet addresses involved in transactions (per Business Insider). NASCAR’s mainstream audience largely outweighs that of the NFT industry, making this an interesting move. Previously, their drop with Zed Run was a great success. , leading the way for their new foray.
Future NFT Drops on Race Day NFT
Currently, we don’t know much about future drops past the NASCAR NFT launch on the 13th of September. However, here are the different types of NASCAR NFTs, according to their website.
- Collectible Tickets: Free, able to be claimed on Mondays before a race.
- Limited Edition: Celebrating the track for an upcoming race. Fixed supply, goes on sale Thursday before a race.
- At the Track Edition: Free, can only be claimed while at the track at the race through a QR code.
- Winner’s Edition: a 1-of-2 collectible NFT will be auctioned off to the highest bidder. The second NFT will be presented to the driver who wins the race.
The amount of free NFTs that NASCAR will launch is a positive aspect for new investors. Fortunately, they don’t need to invest too much into the project, therefore lowering any risk. Seemingly, NASCAR NFTs will be a wonderfully accessible way to enter the NFT market for collectible and car lovers alike.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
