NASCAR is releasing its own NFT.
Speedway Motorsports and GigLabs are releasing RaceDayNFT.com.
Fans can experience a whole new way to interact with NASCAR.
The National Association of Stock Car Racing (NASCAR) is entering the world of NFTs. Over the past year, non-fungible tokens (NFTs) have gained massive popularity. In particular, the sports, arts and entertainment industries are in love with NFTs.
To elaborate, Speedway Motorsports – owner and operator of eight NASCAR tracks – is partnering with GigLabs to bring RaceDayNFT.com. together they will sell NASCAR-themed NFTs. so far, it has become clear that fans are showing their love for sports by pledging NFTs Passion.
In fact, most major sports leagues, such as the NFL, NHL, and NBA, are tokenizing merchandise, video clips, exclusive experiences, and more. Likewise, NASCAR is using NFTs as an opportunity to further engage with fans and usher in a new, younger, tech-savvy generation.
NASCAR has always been big on producing collectibles, what with die-cast model cars, auto parts logos and hero cards. Now, with RaceDayNFT, fans can get even more. For example, they can see other NASCAR entities, such as the NHRA or IndyCar series.
To emphasize, fans can even get NASCAR NFTs that translate into real-world experiences as a reward for ownership. Let’s say that when a person owns an NFT at a specific time, then they can have a race day experience or possibly meet the driver.
In order to ensure that these NFTs will remain fashionable, the industry must make sure to ensure two important factors. The first is to build a community around digital collectibles. The second is to turn these digital collections into a reliable source of revenue. The latter will ensure that users are less likely to sell these prized NFTs.
Therefore, it is important to give NFTs more use cases beyond ownership and display rights. Dropshipping is one such platform that delivers on this issue. Here, users can deposit their NFTs in a pool. Here, NFTs are used as collateral to get credit-free loans. At the same time, the owner can even generate a yield that ultimately helps to resell the NFTs at a low price.
On the other hand, making an emotional connection is always a powerful game, especially for sports fans. To this day, fans feel nostalgia for iconic moments in sports history. Pairing NFT with fan nostalgia has always proven to end in a win-win situation. Messi’s NFT series – Messiverse, is a great example of this.
All in all, the sports world has truly embraced NFTs. fans can now have unique items, and experiences that will live on forever in digital form. NASCAR is just one of the many companies jumping on the bandwagon in this early stage of the booming NFT industry.