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Bitcoin speeds towards race car sponsorship

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bitcoin race car

Bitcoin has achieved many firsts in its short history, a sponsored race car wasn’t on the list, until now.

The 105th running of the Indianapolis 500 featured a Bitcoin sponsored racing car in a world first.

Crossover between sport and cryptocurrency

Renowned Bitcoin podcaster Stephan Livera approves of the Bitcoin race car design but points to a building phenomenon: the crossover between sports, athletes and cryptocurrency.

“I think it’s all about the story, there’s a social element as well. People look at what celebrities and sports stars are doing,”

“I think it’s really cool how they’ve styled the car, and they’ve really gone all out” Livera added.

Because the Bitcoin logo isn’t under any copyright laws, team owner Ed Carpenter was free to go his hardest.

“I really believe that it’s the future of a lot of what our financial system is going to look like” Carpenter said.

Bitcoin car comes 8th in the race

Dutch driver Rinus Veekay looked set for victory but couldn’t find the right track position before coming home in a solid 8th place. 

Could you imagine what a victory for the Bitcoin race car would do to the price?

The BTC logo was everywhere. Veekay’s fire suit was covered as were the uniforms worn by the team’s pit crew.

Also adorning the car was the number 21 to signify the total supply of BTC, being 21 million.

https://twitter.com/APompliano/status/1398972528865972226?s=20

Not your ordinary sponsor

Strike Founder and CEO Jack Mallers was a key player in sponsoring the Bitcoin race car, and his vision offered something outside the traditional sponsor setup.

Mallers could hardly be accused of understatement when he said Carpenter “is racing for human freedom, financial literacy, financial inclusivity, and is using the platform he’s earned throughout his career to promote the most powerful message possible in pushing forward.”

So the biggest car race in America is added to a rapidly growing list combining digital currencies and sports.

Does crypto have a place in racing?

In March, Major League Baseball’s Oakland A’s announced they’ll accept Bitcoin as payment for season suites. This followed the NBA’s Sacramento King’s also allowing players and staff a bitcoin payment option.

NFL stars Tom Brady, Saquon Barkley and Russell Okung have all publicised their interest.

The growth in this space appears only heading in one direction.

Perhaps Carpenter best encapsulated the mood “We want to kiss the bricks, drink the milk, then watch Bitcoin race past $100k!”

Crypto

Gucci goes big in metaverse with new Vault Art Space

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Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Spring Cry by Alanna Vanacore

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

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Crypto

Ethereum to finally undergo shift to new energy model

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Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.

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Business

Luxury watchmaker accepts bitcoin for limited edition collection

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They say cash is king and some call crypto a waste of time, but one company is proving to customers, that its not an old-timer

Luxury watchmaker Hublot is accepting bitcoin as payment for a limited-edition watch collection.

While the release begins with this limited-edition collection, the addition of bitcoin to the platform will not be going away for the United States eBoutique

Hublot partnered with BitPay to accept bitcoin and will continue to accept bitcoin through this outlet.

In order to secure one of the watches from this collection, customers will be paying just over 21 thousand or slightly more than the current price of 1 bitcoin.

The Swiss-based company joins other high end brands like Gucci and Balenciaga in accepting bitcoin as legitimate payment.

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