Representatives from Rick Ware Racing (RWR), a US-based professional stock car racing team, recently announced that Monarch Token, a crypto-to-fiat payment solutions provider, has partnered with social trading network TradingView.
The partnership will reportedly involve sponsoring RWR’s No. 51 Chevrolet Camaro ZL1 during Bass Pro Shops NRA Night Race to be held on Saturday at Bristol, Tennessee’s Motor Speedway.
Monster Energy NASCAR Cup Series
Reed Sorenson, a professional race car driver, will be driving the newly launched Chevrolet Camaro ZL1, making it his 300th time participating in a Monster Energy NASCAR Cup Series and the very first such event for RWR.
Notably, this event and partnership are a significant development for the emerging role of cryptocurrencies in the sports industry. TradingView is an established financial firm that provides traders a large platform to exchange information about stocks, futures, and forex markets, including Bitcoin (BTC) to USD trades.
The social trading service aims to make the world’s financial markets more accessible to everyone, not just highly-experienced investors. At present, TradingView has about 7 million users that actively participate on its platform, and it has recently attracted various crypto traders.
Data From Over 80 Exchanges
Moreover, the financial data company lists trading information from over 50 of the world’s stock exchanges and almost 30 different cryptocurrency exchanges. After adding support for crypto trading data, TradingView has reportedly experienced a 200 percent growth in the last few years.
Now, the company is set to participate in the upcoming Monster Energy NASCAR Cup Series competition for the very first time. Rick Ware, RWR’s principal stated:
“We're very excited to have the support of Monarch Token and Trading View onboard for this weekend at Bristol. Our team is very passionate about welcoming new partners with open arms and showing them the benefits that NASCAR has to offer.”
"Bristol always has the tendency to put on a great race, especially when its ran under the lights. We're looking for a productive race with a top-25 finish in our No. 51 Trading View Ford Fusion."
Professional Soccer, Baseball Enter The Crypto World
Notably, this is not the first time that a major sports organization has been involved in a sponsorship deal with a crypto-related company. In January, CashBet, a cryptocurrency-ready gaming platform, announced a sponsorship deal with the Arsenal football club. The sponsorship involved the Premier League Club promoting CashBet’s initial coin offering (ICO) during its sporting event at the Emirates Stadium in the United Arab Emirates.
Looking at these developments suggests the world’s billion-dollar sports industry is increasingly beginning to take an active interest in cryptocurrencies. As CryptoGlobe reported, Major League Baseball (MLB) announced the development of an Ethereum-based collectibles game in July.
According to the MLB, its new blockchain-based game was an attempt to revive America’s favorite pastime, as attendance at its games had been very low.