MotoGP’s Gresini racing goes crypto with new fan sponsorship program

Avatar


Gresini Racing has partnered with MotoGP Guru and Animoca Brands’ subsidiary SPORTPASS to launch a fan-powered motorsport sponsorship program. The initiative will enable MotoGP fans to purchase personal team sponsorship packages starting at 125 euro.

Speaking with Cointelegraph, Graeme Warring, the Founder of WePlay Media, discussed the biggest challenge to rolling out the fan-accessible MotoGP sponsorship packages:

“The biggest challenge is, as with anything, selling it. Finding a product or market fit when you launch something new that has never been done before is always challenging.”

According to Warring, WePlay Media, the gaming studio behind MotoGP Guru, has developed the necessary organizational infrastructure and on-the-ground teams to “put ‘Life’ into IRL experiences.” 

Related: Crypto market to hit $200T within 10 years — Animoca co-founder

Decentralization implications

The decision to offer sponsorship at a fraction of the normal cost makes this product available to a far more diverse audience and less at risk of centralization.

As a fundamental talking point in the crypto space, Warring said that the fan sponsorship program has the potential to decentralize the ownership of MotoGP teams and enable their fanbase to be far more involved:

“Decentralization as a concept is at the heart of this program. Instead of the big corporate sponsors dominating the sponsorship space, we are innovating around the decentralization thesis of direct ownership of the fan experience by the fans.”

Related: The Sandbox launches The Sandbox DAO with 25M Sand Treasury

Discussing the future impact of decentralization on the world of professional sport, Warring told Cointelegraph:

“Who knows how this will play out? Let’s see. Decentralization has played a part in leveling the playing field in many quarters, and it could well do it here in professional sport.”

Related: Crypto.com says big money Formula 1, UFC deals paying off as user base expands

The Sponsorship Program

The sponsorship packages will grant fans VIP Paddock Experiences at the 2024 Grand Prix events, name placement on the bikes and team websites, and exclusive events.

Fans who own a team sponsorship package can also join Zoom calls with team members and custom merchandise and get a chance to win a Ducati Panigale V4S used by Marc Marquez.

Magazine: Mt Gox not dumping Bitcoin just yet, Hong Kong boots out crypto exchanges: Asia Express