The Drone Racing League (DRL) has formed a partnership with blockchain platform Algorand, with the aim of leveraging the service to enhance its fan engagement operations.
Under the terms of the multi-year agreement, Algorand will hold the title rights to the DRL World Championship for five years, whilst the league will develop a Digital Drone Racing series on the firm’s blockchain network.
Furthermore, Algorand will secure marketing and branding opportunities across the DRL’s broadcast, social and gaming channels. The league is currently preparing to launch its DRL 2021-22 DRL World Championship Season featuring 12 pilots, with coverage provided by NBC Sports and Twitter.
Rachel Jacobson, DRL President, said: “The Drone Racing League’s global, tech-obsessed fans love that our sport constantly evolves, and blockchain was the next groundbreaking technology in our sights.
“Algorand shares our values of speed, innovation, and inclusivity. As the largest partnership in DRL’s history, we have ambitious plans to deliver a unique sports experience in the metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.”
The DRL has identified blockchain as a ‘bullseye’ for its ‘tech-setter’ fans, highlighting its supporter base as being 40 times more likely to follow and engage with crypto social media than the general public.
Additionally, the DRL will launch a number of blockchain-enabled ticketing, collectables, fan transactions and Non-Fungible Tokens (NFTs) via the Algorand platform, whilst collaborating with crypto developers, programmers and coders at the latter’s hackathon events at drone racing events.
“Algorand and the Drone Racing League are the most technically advanced, disruptive and visionary organisations in blockchain and sports respectively,” remarked Steve Kokinos, Algorand CEO.
“We are excited that DRL will leverage Algorand’s technology to create immersive in-game experiences and introduce millions of technology enthusiasts to the possibilities that blockchain can bring to racing and to sports as we know them today.”
The agreement represents a further extension of the DRL’s engagement with new sources of revenue, following on from its interactions with the sports betting space earlier this year via an agreement with US-focused operator DraftKings.