Many occasions when a NASCAR driver isn’t truly racing, they are often discovered outside someplace; looking, fishing, racing in one other collection, engaged on a farm maybe.
NASCAR driver Landon Cassill is a bit totally different.
When he’s not racing on an precise monitor the 31-year-old Iowan could be discovered racing on-line amongst whomever decides to hitch him, most frequently streaming himself on “Twitch” a web based platform that permits others to look at.
The purpose is that Cassill is a part of a era of youthful individuals who stay a lot of their lives on the knowledge superhighway, aka the Web. It ought to come as no shock then that Cassill is aware of rather a lot about cryptocurrency, the as soon as mysterious type of cash that to many people stays nothing greater than “magic cash.” Cryptocurrency is made up of a bunch of numbers that lives in “digital wallets” on blocks in a “blockchain” on a “node” and could be “mined.”
And Cassill is aware of all about it.
He’s been dabbling in cryptocurrency for fairly a while and has even “mined” it. Lately although, he’s began to do one thing else with cryptocurrency. You see, Landon Cassill is the primary NASCAR driver to get a cryptocurrency platform to sponsor the automobile he races in NASCAR’s Xfinity collection for JD Motorsports utilizing cryptocurrency to pay for the sponsorship. And that’s a fairly large deal.
“I’ve, I’ve traded it. I purchased it, I’ve held it, I’ve mined it,” Cassill mentioned. “However a few years in the past, I actually determined that along with it being part of my private portfolio I wished to construct a community within the house.”
“As a race automobile driver. I make my residing by having sponsors and representing manufacturers that I am aligned with.”
The sponsorship is with Voyager Digital which operates a crypto-asset buying and selling platform. Cassill met CEO Steve Ehrlich a pair years in the past at a crypto convention and the 2 grew to become pals. It was this friendship that led to the partnership.
“It simply looks like the house has gotten larger and larger and increasingly more lively,” Cassill mentioned. “And it is matured to a degree the place corporations are prepared for one thing like a mainstream sponsorship of a sports activities crew or a race.”
“The timing is ideal for it.”
With no centralized banks that maintain onto cryptocurrency, it’s been the Wild West within the crypto house in years previous. However that house is beginning to be tamed. Voyager is among the newer platforms, principally a brokerage agency, that permits customers to construct a portfolio of various types of cryptocurrency. It’s opening the as soon as mysterious world to increasingly more individuals, together with those that won’t be too comfy buying and selling “magic cash.”
“It is simple for somebody that does not know a lot to grasp it,” Cassill mentioned. “For me to inform my dad and mom or you already know, my grandmother, who final time Bitcoin was at $60,000 referred to as me and requested me, ‘how did my Bitcoin do?’ It takes me two seconds to repeat and paste an invitation hyperlink to Voyager and she or he’s on the platform in a second.”
And that platform brings one thing that Cassill has been doing on the web full circle, as within the circle that may be a racetrack.
“To me that is an ideal alignment for one thing I am invested in already but in addition compliments my profession as a race automobile driver.”
One factor that cryptocurrency market is understood for nevertheless is volatility, the worth can swing wildly. That’s one thing that Cassill says isn’t a problem with Voyager and related platforms.
“Sure, it’s an lively market,” Cassill mentioned. However he provides: “Similar to for those who’re holding a inventory or anything crypto, Bitcoin, mild coin, Ethereum, they’re all going up and down.”
“One factor that is actually superior about Voyager is you earn curiosity in your holdings,” he mentioned. “And never identical to a bit little bit of curiosity, like holding money within the financial institution. I believe that for Bitcoin, you earn like six and 1 / 4 p.c curiosity. And for those who maintain their native token, Voyager token, a certain quantity, they’re going to offer you a 1% bonus. You may earn between six and 9% curiosity, 10% curiosity, truly, I believe on some tokens simply by holding it in your account. That is fairly superior.”
“I imply for a crypto man; I maintain my private portfolio. Lots of people maintain off exchanges. So for these of you which are prepared to carry on an change or wish to see your cryptocurrency incomes some yield, even whereas the market goes up and down, it is an effective way to, I suppose, hedge the market.”
Holding on then is one of the best ways for crypto to repay.
“We have seen the value change, it swings of 10 or 15% at a time,” Cassill mentioned. “It might positively be a risky market. However I imply, for those who’re holding one Bitcoin in your Voyager account that one Bitcoin is incomes a six and 1 / 4 p.c curiosity annual rate of interest, that is nothing to sneeze about.”
It’s apparent that Cassill is passionate concerning the cryptocurrency market and enjoys educating others concerning the as soon as mysterious world. Cassill has seen how curiosity has grown within the crypto market and it’s a giant a part of the sponsorship.
One thing he doesn’t thoughts in any respect.
“It’s enjoyable to only tie issues from different elements of my life into racing,” Cassill mentioned. “And I believe that basically what it does is strengthens my group and strengthens Voyager’s group. As a result of that is one factor that’s actually robust about cryptocurrency is the group. And Voyager, I believe a giant a part of the sponsorship is that group and the way can they faucet into the NASCAR group and actually simply present service.”
Whereas the sponsorship could also be one thing new to the game, the contracts weren’t any totally different than every other sponsorship deal. And the method of turning cryptocurrency into the money wanted to pay the race crew’s payments isn’t all that tough Cassill mentioned.
“Fortuitously, on Voyager’s brokerage platform I can simply liquidate the crypto that I would like and ship it proper to my checking account,” Cassill mentioned. “The sponsorship is paid totally in cryptocurrency. That is part of this sponsorship. And from that time I can maintain what I wish to maintain, hold it in my Voyager account. However I may additionally promote it carve out what I have to pay payments. And clearly, go racing with it.”
Cassill’s JD Motorsports automobile he’s racing at Nashville Superspeedway (and raced on the Circuit of the Americas a number of weeks in the past) isn’t the primary to have a crypto sponsor on the hood and get its funding from cryptocurrency, Stefan Parsons has a partial sponsorship for a similar race with Dogecoin. And Josh Clever famously had Dogecoin sponsorship for a race in 2014. However the Voyager sponsorship isn’t only a one or two race deal; in reality, it’s a deal that can see it as a main sponsor for the remainder of the season, with that sponsorship paid for totally in cryptocurrency; that’s a primary for NASCAR.
“I have been a NASCAR lengthy sufficient, I assume I do not rely something out on this sport,” Cassill mentioned. “However I believe that the one factor that I in all probability did not think about after I first obtained into cryptocurrency; the extent of professionalism I might cope with when, doing a sponsorship with a brokerage change like Voyager you already know, Steve, or like Pam Kramer and the entire crew there. These persons are actually good individuals they usually’re professionals and I am excited to work with them. As a result of I believe it is a, a very nice model.”
Cryptocurrency is certainly turning into much less mysterious. It’s exiting the knowledge superhighway, and due to fans, like race automobile driver Landon Cassill, its going racing in NASCAR.