{"id":31035,"date":"2024-04-10T00:06:09","date_gmt":"2024-04-10T00:06:09","guid":{"rendered":"https:\/\/icoinmarket.com\/polkadot-races-into-indianapolis-500-with-crypto-branded-car\/"},"modified":"2024-04-10T00:06:09","modified_gmt":"2024-04-10T00:06:09","slug":"polkadot-races-into-indianapolis-500-with-crypto-branded-car","status":"publish","type":"post","link":"https:\/\/icoinmarket.com\/polkadot-races-into-indianapolis-500-with-crypto-branded-car\/","title":{"rendered":"Polkadot Races Into Indianapolis 500 With Crypto-Branded Car"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Polkadot is coming to the Indianapolis 500 after community members voted to select IndyCar racing star Conor Daly as a brand ambassador. The year-long collaboration, announced by Daly\u2019s company during a press conference on Tuesday, will begin at the preeminent race set to take place in May.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">A proposal to sponsor Daly passed with 95.8% approval in a community vote on the Polk Assembly website. The plan, which was up for review from February 19 to March 14, requested 290,000 DOT, worth around $2.1 million, to cover the $1.7 million commercial sponsorship fee for a race team plus other expenses.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">\u201cThe Indy 500 is iconic and is the greatest spectacle in racing\u2014ask any race car driver and it is the one race they would want to win,\u201d Polkadot community contributor Chris Wade, who led the initiative, told Decrypt.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">\u201cPlus, Polkadot&#8217;s sponsorship of Conor includes a NASCAR truck and Nitro Cross Race, and Conor&#8217;s experience straddles them all,\u201d Wade added.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Daly has driven in the Indy 500 and Daytona 500 in the same year and Formula 2 series in Europe.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">\u201cHe&#8217;s fast, powerful, and adaptive\u2014just like Polkadot,\u201d Wade said.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Launched in 2020 by Ethereum Co-Founder Gavin Wood, Polkadot is a &#8220;multi-chain network&#8221; that aims to connect different specialized blockchains into a single unified network. Currently, the 15th largest blockchain by market capitalization according to CoinGecko, Polkadot (DOT) is up 3.2% for the week and trading at $8.84.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;The fact that thousands of individuals in the Polkadot community\u2014not a corporate marketing team\u2014used their voices to vote and select me as their ambassador is an incredible honor and reflective of the power of what a more free and open internet can look like in the future,&#8221; Daly said in a statement.<\/p>\n<figure class=\"w-full max-w-full mt-4 overflow-hidden\"><figcaption class=\"m-0 text-start gg-dark:text-neutral-200 scene:font-itc-avant-garde-gothic-pro scene:text-neutral-700 scene:font-light scene:mt-1\">Image: Polkadot\/Conor Daly<\/figcaption><\/figure>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The sponsorship deal with Daly, executed through Dreyer &amp; Reinbold Racing and Cusick Motorsports, is the latest partnership between the racing and crypto industries.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">In 2021, McLaren Racing tapped Tezos to launch a collection of Formula 1 NFTs. In February 2022, Red Bull Racing signed a $150 million sponsorship deal with the cryptocurrency exchange Bybit. The Red Bull Racing deal was followed by another in June 2023 with Sui blockchain creator Mysten Labs.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">In January, Grammy Award-winning rapper Drake announced a two-year naming sponsorship deal between Sauber Formula 1 and the crypto gambling site Stake.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;The fact that I\u2019m racing not just for a brand name or logo, but representing developers, investors and regular people that are building tomorrow\u2019s web, is thrilling and overwhelming,\u201d Daly added. \u201cWe\u2019re bringing power back to people, while making sports history.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Edited by Ryan Ozawa.<\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl mb-6 md:text-center gg-dark:text-white\">Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/decrypt.co\/225531\/polkadot-indy-500-crypto-racing-sponsorship\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polkadot is coming to the Indianapolis 500 after community members voted to select IndyCar racing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":31036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[26],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polkadot Races Into Indianapolis 500 With Crypto-Branded Car - iCoinMarket<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoinmarket.com\/polkadot-races-into-indianapolis-500-with-crypto-branded-car\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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