The Drone-Racing-League has signed the biggest sponsorship contract thereof with Algorand (a cryptocurrency platform) up till now. As per a league’s press release, the contract values about $100 million for the coming five years. The precise footings of this promised contract were not distributed. It has been stated in the announcement that during the time of upcoming five years, the “Drone-Racing-League-World-Championship” tournament’s title rights will be earned by Algorand. Integration of the league will also be made into the network of blockchain for utilizing Algorand for the transmission of events, streaming channels, and showcases of social media.
The million-dollar contract
Steve Kokinos, Algorand’s CEO, stated regarding the contract that Drone-Racing-League and Algorand are much advanced for their technology, along with being visionary and disruptive organizations across the sports and blockchain simultaneously. He added that the company is enthusiastic about the DRL’s leverage of technological advancement of Algorand to develop mesmerizing experiences which would be in-game along with the introduction of numerous among the technology enthusiasts for initiating the possibilities for the blockchain to be incorporated into sports and racing in their current form in front of us.
Drone racing’s expansion of the fan base thereof
In the case of those who are not in knowledge with Drone Racing, drone pilots have been pitted contrary to each other for racing over technical courses to win prizes and cash. The league declares the act of integrating blockchain technology into it being just like a bullseye concerning the tech-setter fans of the league who are initial adopters, progressive about the entertainment’s latest forms, as well as are for many times more expected to pursue and become involved with the social media of cryptocurrency as opposed to the common masses.
Rachel Jacobson (the president of Drone-Racing-League), while making an authorized announcement, disclosed that their ethics regarding speed, inclusivity, and innovation are shared by Algorand. She added that due to the nature of the collaboration being the biggest in the history of DRL, the group has some ruthless strategies to provide an exclusive sports experience through a metaverse. She further mentioned that the team is tremendously thrilled about the revolutionary steps to be brought up by this partnership regarding the blockchain community as well as tech and sports fans spreading across the world. The launch of the Drone-Racing-League-Season will occur on the 29th of September, being available for live streaming of Twitter also.