NASCAR is an elementary automotive industry known for the production of some of the best vehicles and car race events out there; it has recently made a move into the crypto market and is willing to engage with NFTs as its primary source of exploration within the crypto industry. Crypto adoption is definitely on the rise, and every company wants a piece of it; NASCAR is just a recent interpretation of this idea. If you follow the company in any possible way, then you would know that NASCAR is primarily known to engage with collectibles and to expedite their production and distribution among the fans. What’s a better way to make these collectibles available for purchase than NFTs, which are the recent digital revolution within the collectibles production space and their release?
NASCAR Releases Its NFT Collectables
According to a recent report, Speedway motorsports which own about 8 NASCAR tracks has formed a partnership with GigLabs, which is a new NFT marketplace. NASCAR is willing to collaborate with this new NFT marketplace in the production, distribution as well as launch of various NFTs in the future. For starters, there is going to be a launch of a new NASCAR-based NFT, the first of its kind, at Bristol Motor Speedway on Monday at 1:00 PM. This is going to happen almost seven days prior to the cup series playoff, which is scheduled to take place at Bristol Motor Speedway.
The collection of collectibles have always been a fundamental part of NASCAR as fans have over the years collected various strange things ranging from collectible car diecasts to event programs. But now, as the digital space is transforming and providing corporations different ways to build and stretch their business, NASCAR is finally taking a flight with the NFT technology for the first time. NASCAR is committed to doing a test run first to see the reaction of the crowd and how well they take it before making it into a permanent thing, but according to the executives, if it goes well, then NASCAR will definitely think about bringing various collectibles into the digital form and releasing them in the form of NFTs.