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The first ever NASCAR funded by Dogecoin has been unveiled today.
Driver JoshWise was originally looking for US$50,000 to race in the series, and he foundhelp in Reddit, with more than 1,200 users in the r/dogecoinand r/NASCAR subreddits donating over 100 million DOGE tofund the project.
What isremarkable about Wise’s initiative is its speed. Wise tweeted on March 25, “Just a week ago this was only an idea andnow it's a reality. So thankful for all the fans, @reddit community and@dogecoin for doing this.”
This aptlydemonstrates the ease of using cryptocurrencies to achieve internationalcooperation unbelievably quickly and efficiently, with minimal organization.
One significant partnership
Wise alsostarted accepting user-generated ideas for the car’s paint job, and thefinished design has now been revealed. Fittingly, a familiar face staresknowingly from the rear, with even a detail behind the tires reading “To themoon!”
The pastmonth was not without further surprises from the community, with one useraccidentally donating 20 million DOGE rather than two million, a difference ofUS$13,500, but remarkably stuck to his decision to fund over a third of thetotal cost.
Subredditswere also awash with well-wishers ahead of the Sprint Cup Series race atTalladega Superspeedway in May. Among them, u/QSpam mentioned what many will bethinking; “Dogecoin and NASCAR, whowould’ve thought?”
With therealization of the project, a cryptocurrency has become a sponsor of one of themost popular sporting events in the US, opening up a wealth of positivepublicity for Dogecoin beyond its status as a financial tool.
The volumeof casual interest from lay consumers to result from the sponsorship could wellbe unprecedented. Furthermore, each leap for Dogecoin represents a step foraltcoins towards greater acceptance and popularity with the public, which willchallenge the notion held by some that the future of cryptocurrency lies inBitcoin and its development.
You canread more about Josh Wise’s NASCAR journey and of course see pictures of thefinished product here.
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