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Motorsport team funds drivers through NFTs

LMG GTno1 NFT motorsport

Creative agency Amsterdam Berlin and German driving racer Laura Marie Geissler are partnering to start a non-fungible token (NFT) funded racing team. The purpose behind the project is to make female drivers less dependent on sponsors to pursue a driving career.

Laura Marie herself will be the first driver to benefit from the program. Proceeds from all NFT sales of the coming drops will be used to finance the driver’s 2022 racing season. 

While in football, basketball, and even the UFC players’ salaries are paid by the team they play in, with motorsports, drivers often rely on sponsors to make a living out of the sport. Athletes in other sports also have individual sponsorship deals with brands. However, because they are not as dependent on the income, they may be freer to choose who they get involved with. This is a luxury that many up-and-coming drivers don’t have. For a female racing driver, the environment can be even more unwelcoming. 

The solution to this problem is difficult to execute but simple to identify: female drivers need a source of revenue that does not rely on sponsors. Amsterdam Berlin’s project with Geissler is looking to provide just that. “No more being forced to look pretty for the cameras – just pure, self empowered, female racing,” says Geissler’s website.

The design of the NFTs is provocative in highlighting typical female stereotypes. The helmets and cars showcase dotted lines that resemble those a cosmetic surgeon draws to map out an operation. In addition, the car features “wider” fenders and a “slimmer” central body. Altogether, the components make a statement on the objectification of women in motorsports and highlight the absurdity of the practice. 

LMG GT No. 1, the name of the project, is looking to become the first NFT-funded racing team. The first drop of NFTs is available on OpenSea and Unblocked.Exchange marketplaces. There are three different levels of scarcity ranging in prices from $20 to $2,500. In addition, a single edition rotating NFT based on Geissler’s racing car is up for auction. 

Meanwhile, Sandbox is funding the World of Women foundation to continue integrating women in the metaverse, Parity launched an NFT marketplace for women athletes, and L’Oreal  Paris celebrated women through an NFT campaign.

Image Copyright: Amsterdam Berlin