Top drone racing league taps Algorand (ALGO) for crypto, NFT initiatives
Merging blockchain with drone racing is a bullseye for the league’s “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.
Top-ranked professional drone racing property Drone Racing League yesterday announced a long-term partnership with Algorand (ALGO), a high-speed blockchain platform that supports smart contracts.
— Nicholas Horbaczewski (@NicholasDRL) September 14, 2021
Recognized globally for cutting-edge technology, immersive sports entertainment, and thrilling, high-speed drone racing, DRL will bring to life next-generation fan experiences on the Algorand blockchain.
Racing on Algorand
DRL will unveil blockchain-enabled ticketing, collectibles, fan transactions, and NFTs on Algorand, and welcome crypto developers, programmers, and coders to Algorand hackathon events at DRL races around the world.“The Drone Racing League’s global, tech-obsessed fans love that our sport constantly evolves, and blockchain was the next groundbreaking technology in our sights. Algorand shares our values of speed, innovation, and inclusivity,” said DRL President Rachel Jacobson.
He added, “as 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.”
“Algorand and the Drone Racing League are the most technically advanced, disruptive and visionary organizations in blockchain and sports respectively. We are excited that 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,” said Steve Kokinos, CEO of Algorand.
Over the next five years, Algorand will have the Title rights of the DRL World Championship circuit, DRL will develop a Digital Drone Racing series built into Algorand’s blockchain network, and the companies will showcase the power of Algorand blockchain through DRL’s broadcast, social and gaming channels. Excel Sports Management’s Properties division helped secure the historic, multi-year deal.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali.
The protocol offers the interoperability and capacity to handle the volume of transactions needed for defi, financial institutions, and governments to smoothly transition into ‘FutureFi.’