Many instances when a NASCAR driver isn’t truly racing, they are often discovered outside someplace; searching, fishing, racing in one other sequence, engaged on a farm maybe.
NASCAR driver Landon Cassill is just a little completely different.
When he’s not racing on an precise observe the 31-year-old Iowan might be discovered racing on-line amongst whomever decides to hitch him, most frequently streaming himself on “Twitch” an internet 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 data superhighway, aka the Web. It ought to come as no shock then that Cassill is aware of lots 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 might 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. Not too long ago 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 sequence for JD Motorsports utilizing cryptocurrency to pay for the sponsorship. And that’s a reasonably large deal.
“I’ve, I’ve traded it. I purchased it, I’ve held it, I’ve mined it,” Cassill stated. “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 turned associates. It was this friendship that led to the partnership.
“It simply looks like the house has gotten greater and larger and increasingly energetic,” Cassill stated. “And it is matured to some extent the place firms are prepared for one thing like a mainstream sponsorship of a sports activities workforce 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 without doubt one of 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 individuals, together with those that won’t be too comfy buying and selling “magic cash.”
“It is easy for somebody that does not know a lot to grasp it,” Cassill stated. “For me to inform my dad and mom or you recognize, my grandmother, who final time Bitcoin was at $60,000 known 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 additionally compliments my profession as a race automobile driver.”
One factor that cryptocurrency market is understood for nonetheless 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 energetic market,” Cassill stated. However he provides: “Similar to should you’re holding a inventory or the rest 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 stated. “And never similar to just a little little bit of curiosity, like holding money within the financial institution. I believe that for Bitcoin, you earn like six and 1 / 4 % curiosity. And should you maintain their native token, Voyager token, a certain quantity, they’re going to offer you a 1% bonus. You’ll be able to 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 alternate or wish to see your cryptocurrency incomes some yield, even whereas the market goes up and down, it is a good way to, I suppose, hedge the market.”
Holding on then is one of the best ways for crypto to repay.
“We have seen the worth change, it swings of 10 or 15% at a time,” Cassill stated. “It will probably positively be a risky market. However I imply, should you’re holding one Bitcoin in your Voyager account that one Bitcoin is incomes a six and 1 / 4 % 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 features of my life into racing,” Cassill stated. “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 a superb service.”
Whereas the sponsorship could also be one thing new to the game, the contracts weren’t any completely different than every other sponsorship deal. And the method of turning cryptocurrency into the money wanted to pay the race workforce’s payments isn’t all that troublesome Cassill stated.
“Happily, on Voyager’s brokerage platform I can simply liquidate the crypto that I would like and ship it proper to my checking account,” Cassill stated. “The sponsorship is paid absolutely 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 must 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 Sensible famously had Dogecoin sponsorship for a race in 2014. However the Voyager sponsorship isn’t only a one or two race deal; actually, it’s a deal that may see it as a main sponsor for the remainder of the season, with that sponsorship paid for absolutely in cryptocurrency; that’s a primary for NASCAR.
“I have been a NASCAR lengthy sufficient, I suppose I do not rely something out on this sport,” Cassill stated. “However I believe that the one factor that I in all probability did not think about once I first acquired into cryptocurrency; the extent of professionalism I’d cope with when, doing a sponsorship with a brokerage alternate like Voyager you recognize, Steve, or like Pam Kramer and the entire workforce 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 changing into much less mysterious. It’s exiting the data superhighway, and because of fans, like race automobile driver Landon Cassill, its going racing in NASCAR.