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    Drone Racing League Lands $ 100 Million Deal With Cryptographic Platform Argoland

    Drone Racing League

    Source: Drone Racing League

    The New York-based drone racing league has signed the most important sponsorship deal to date with crypto platform Argoland, the company said Tuesday.

    DRL is a first-person racing league where drone pilots race their devices through neon light courses and compete for prize money. The company was founded in 2017 and is currently worth $ 200 million, according to PitchBook.

    The terms of the deal with Argoland haven’t been announced, but those who know the deal have told CNBC that it’s a five-year deal worth $ 100 million. Germany-based financial services company Allianz has held title rights and remains a league partner since the launch of DRL. Excel Sports Management has negotiated a contract with Algorithm.

    In an interview with CNBC last week, DRL President Rachel Jacobson called the deal with Argoland a “transformative” and “perfect marriage.” She added a crypto platform and both DRLs support a “tech setter” fan base.

    Jacobson described the Generation Z audience as digitally-savvy early adopters. “When you look at what’s happening with cryptocurrencies and blockchain, you need to make sure you’re targeting the right audience.”

    Boston-based Algorithm has a blockchain or digital ledger and is traded on crypto exchanges under the ticker symbol. Argo.. As cryptocurrencies continue to evolve in the financial sector, businesses are in a position to attract more digital consumers by raising awareness using sports sponsorship.

    Cryptographic company took over sports this year Naming rights assets The National Basketball Association, Major League Baseball, and one company $ 100 million transaction When Liberty media-Formula 1 to own.

    Drone Racing League

    Source: Drone Racing League

    Former NBA executive Jacobson said sports will support brand-aware new companies, but the added cryptocurrency company will educate young viewers about space and use an attractive platform. You need to promote your message. According to DRL, it reaches about 75 million fans worldwide

    “We need to incorporate proper programming so that we don’t just hit the logo,” Jacobson said. “The crypto community, they’re too smart-they’re just looking at jersey patches and billboards. They said,” How do you get involved and how does this change my sporting experience? ” I want to know.

    DRL will start its sixth season on September 29th. The league has a media rights agreement with NBCUniversal and a streaming agreement. twitter..other Sponsorship includes: Agreement with Draft Kings, T-mobile, Body armor, U.S. Air Force.. DRL will support the Air Force in recruiting and training future drone drivers.

    The drones used in racing events are designed and built by DRL, which builds models for all races. The drone is worth about $ 2,000 and can travel up to 90 mph.

    The global drone market, called the “unmanned aerial vehicle” sector, $ 58 billion by 2026, Markets and by Markets. Therefore, as DRL also functions as a drone maker, Jacobson said he would like to leverage the product to generate more revenue.

    “There are endless opportunities,” Jacobson said, noting that more and more companies are using drones to test deliveries. “We make drones. When we think about other areas of business, it doesn’t matter. We’re just getting started.”

    Disclosure: NBC Universal is CNBC’s parent company.

    Drone Racing League Lands $ 100 Million Deal With Cryptographic Platform Argoland

    Source link Drone Racing League Lands $ 100 Million Deal With Cryptographic Platform Argoland

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