Drone Racing League snags $100 million sponsorship from crypto platform Algorand

drone racing league Algorand

New York-based Drone Racing League (DRL) has bagged a five-year sponsorship deal, reportedly worth $100 million, with crypto platform Algorand. As part of this partnership, DRL will unveil blockchain-enabled ticketing, collectibles, fan transactions, and non-fungible tokens (NFTs) on the Algorand platform. The Title rights of the DRL World Championship circuit will remain with Algorand during this time.

Additionally, DRL also plans to develop a Digital Drone Racing series built into Algorand’s blockchain network. This will allow the companies to showcase the power of blockchain through DRL’s broadcast, social, and gaming channels.

The news comes as DRL launches the 2021-22 DRL World Championship Season, which will combine the best of esports and real drone racing, starting on September 29 at 8 pm EST on NBCSN and Twitter.

Drone racing and crypto: disruptive forces to innovate sports

DRL says merging blockchain with drone racing is a bullseye for its “tech-setter” fans, who are early adopters, open-minded to new forms of entertainment, and 40 times more likely to follow and engage with crypto social media than the general population. As such, the league is looking forward to welcoming crypto developers, programmers, and coders to hackathon events at DRL races around the world.

Stressing that the league’s global, tech-obsessed fans want the sport to evolve constantly, DRL President Rachel Jacobson points out that this is the largest partnership in DRL’s history:

We have ambitious plans to deliver a unique sports experience in the metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.

Interestingly, a marriage between sports organizations crypto platforms is becoming more and more common. Soccer giants Paris St. Germain recently named crypto.com as their official cryptocurrency partner. Other big-name sports partners for crypto.com include the UFC, Formula 1, Italy’s Serie A, and the Montreal Canadiens. In the meantime, crypto exchange FTX has secured naming rights to the Miami Heat’s arena as well as to the field at California Memorial Stadium at the University of California in multi-year, multi-million deals.

Steve Kokinos, CEO of Algorand, sums up:

DRL will leverage Algorand’s technology to create immersive in-game experiences and introduce millions of technology enthusiasts to the possibilities that blockchain can bring to racing and to sports as we know them today.

Read more: 5G drone brings exclusive MLB Field of Dreams game footage

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