NFT companies are beginning to enter the arena for motorsport racing sponsorship, and by the look of things, it seems like these companies are ready to disrupt the space.
Laura-Marie Geissler Racing
Laura-Marie Geissler, a German GT racer, recently partnered with Amsterdam Berlin, a creative agency, and Unblocked an NFT startup to launch an NFT that’s the first of its kind. The creation of the LMG racing team named after Laura-Marie Geissler plans to launch the first NFT funded motorsport team.
The LMG racing team has made the bold decision to forgo all external sponsors, and the team plans to fully sponsor Geissler’s race season through the sale of NFTs. At this point, Geissler is 100% putting her racing career in the hands of fans and NFT enthusiasts.
Geissler and her team announced the launch of their campaign a few days ago during the first weekend of the South by Southwest (SXSW) event hosted in Austin, Texas, USA. Speaking to Geissler about the motivation to pull off such an impressive feat, she shared with Cointelegraph, “It’s hard for women to ask people to give them money because it becomes a very transactional relationship. It was difficult for me to find a balance and get others to like me because of how I drive, not just because I’m a woman or I look a certain way.”
An NFT campaign to fund a racing season is an exciting way to go about fundraising, and it’s nothing short of spectacular.
One of LMG’s primary partners for its NFT endeavor is Amsterdam Berlin, and Moritz Grub had a considerable amount of exciting and insightful things to share about the partnership. Grub shared his opinion about the motorsports world being a macho and male-dominated space.
“Maybe if we had more female-led brands and companies funding racing, then there would be more female fans and viewership.” Speaking further about the involvement of NFTs in the project and why the team decided to venture down this unusual path, here’s what Grub from Amsterdam Berlin had to say.
“It’s an interesting technology that isn’t being used well at the moment.” Believe that most NFT PFP-based projects may be “schemes.” Grub feels like utilizing an NFT-based crowdfunding system for motorsport teams gives riders and companies more control over spending their resources and making decisions.
The Future of Web3 Companies in the Motorsport Space
NFTs are slowly proving to be a tool to liberate spaces and industries; companies and people in a wide range of sectors now employ NFTs and other related Web3 tech to access alternative funding sources.
Over the last few months, motorsport fans wondered when the first major NFT-related project would be undertaken in one of the significant motorsports leagues, and it seems like the time has finally come.
Formula One was one of the first motorsports leagues to adopt NFTs through a partnership in 2019, showing that motorsports proprietors are forward-thinking professionals willing to venture into untested and unproven spaces.