Home / News / World’s 1st DAO For Global Motorsports Communities To Finance New Teams, More

World’s 1st DAO For Global Motorsports Communities To Finance New Teams, More

Phoenicia Sport and Entertainment CEO and former NASCAR Team Owner Chris Lencheski and Adrian Maurer, Co-Founder and CEO of Toronto-based and Silicon Valley-backed Web3 content management platform, Kubelt, announced today the launch of MotorDAO, a community-driven organization designed to democratize how racing drivers and teams receive funding to compete at the highest level of international racing across open wheel, stock cars and motorcycle racing.

“As it relates to the financing mechanism of what DAOs should be, we believe they should be registered in the USA to provide transparency (which we are). DAOs’ very nature requires something decentralized to support so racing, whether its F1, NASCAR, Indycar, MotoGP, etc., as well as tennis, golf, boxing, MMA for that matter are globally decentralized sporting platforms allowing teams, drivers, and participants to operate across multiple series or disciplines. We believe this DAO can provide a mezzanine financing mechanism for deserving drivers and teams to compete at the highest levels in their chosen series and with the people and companies involved with MotorDAO being best-in-class, collectively, we could not be more aligned with the global Web3 and crypto communities.” said former NASCAR team owner and sports private equity executive Chris Lencheski.

DAOs – or decentralized autonomous organizations – are organizations that are governed by smart contracts and powered by the transparency of the blockchain to enable collectives to make decisions. MotorDAO leverages these technological advances to deliver unique, engaging experiences to motorsports fans. MotorDAO’s mission is to give fans unprecedented access and voting opportunities into MotorDAO’s teams, drivers and events.

MotorDAO is a membership-based platform for motorsports fans to directly participate in the benefits of team ownership, driver sponsorships, events and more. In addition to retail perks, ticket packages, and race day NFT air drops, members of MotorDAO can influence acquisition decisions and participate in owner-related perks such as Hot Pit Passes that provide access to the paddock areas, team radio transmissions, driver meet and greet invitations, as well as invitations to the MotorDAO Annual Token Holders meetings planned for racing facilities around the world as voted upon by the Token Holders.

“MotorDAO represents the intersection of loyal motorsports fans with a highly engaged NFT and Web3 audience. We will be the first DAO to hit the market with a fully operational business and platform from day 1. I’m excited to see MotorDAO become the model for building highly engaging DAO experiences that welcome the next wave of people to Web3,” stated Adrian Maurer, co-founder and CEO of Kubelt, a Web3 company backed by Protocol Labs, OrangeDAO, Soma Capital, and more.

MotorDAO’s first memberships will be limited edition “Founder Memberships” that represent governance rights and afford the highest VIP access to member perks. Each Founder Membership will be sold as an NFT that represents a 3D model of a blank racing helmet. When founder membership NFTs are completely subscribed, a unique livery for each helmet will be revealed, where holders will have the option to order the physical version helmet as well as be able to showcase the digital version in the metaverse, all powered by Kubelt. To give the MotorDAO NFTs an authentic motorsports aesthetic, MotorDAO is working with Andy Werner (andwerndesign) who has designed helmets for Valterri Bottas, Jenson Button, and Porsche Le Mans 24h and worked with BMW, Toyota Motorsport, and Adidas.

Chris Ghent, Global Head of Brand Strategy & Partnerships, NEAR Foundation speaking on NEAR Foundation’s support of MotorDAO, “It’s amazing to see progressive projects like MotorDAO launching organically on NEAR. When you see passionate community members introduce Web3 concepts where their passions live, it helps to remove barriers to entry for audiences like those in motorsports. I’m a NASCAR fan and have attended many races. It’s exciting to imagine what’s possible with the next generation of racing being enabled by Web3. The NEAR protocol is a greener alternative to other blockchains. In fact, it’s certified carbon neutral by South Pole making it the leading solution for the carbon offset edition of MotorDAO’s membership and other NFT-driven applications like gaming and beyond.”

MotorDAO is also partnering with Superdao to ensure that the DAO is appropriately tailored to the needs of both motorsports fans and the Web3 community. “Superdao is proud to be playing a critical role in MotorDAO’s implementation as part of our broader vision towards one-click DAO formations. We believe that the Superdao infrastructure supporting the MotorDAO team will prove to be foundational for future DAOs,” remarked Yuri Liftshits, Founder and CEO of Superdao.

MotorDAO is already engaging with the motorsports community. Interested fans are making their voices heard by discussing operational decisions in MotorDAO’s Discord channel. Active members deemed to be making a positive impact on the MotorDAO community are eligible for exclusive perks and opportunities only made available for MotorDAO Ambassadors.

Shortly after launch MotorDAO will be releasing more memberships opportunities and announcing our first team or commercial rights acquisitions and young driver sponsorships. If you would like to nominate yourself or any deserving young driver let us know by filling out the Driver Nomination Form here.

MotorDAO is committed to being environmentally forward in its approach by partnering with KlimaDAO to embed real carbon assets in its Web3 content. “KlimaDAO is proud to partner with MotorDAO on this ambitious climate initiative. Both organizations are unique in that they leverage the benefits of Web3 technologies and decentralization to help co-ordinate real world challenges and opportunities. Our goals are to develop and build robust solutions to demonstrate how a climate strategy can engage communities and bring about transparency and efficiency throughout the entire climate action journey,” commented 0xymoron, Founding Member of Klima Core.

MotorDAO has also aligned with Mentha Partners, which is comprised of former executives of financial technology companies and top tier investment banks. Mentha Partners will bring deep operational experience and multidisciplinary networks to provide value-added services to MotorDAO. Ermo Ou, Co-Founder of Mentha Partners, highlighted, “At Mentha Partners we adopt a multi-faceted approach to help traditional businesses unlock the benefits of blockchain technology. We are incredibly excited to support MotorDAO. We believe this project has the immediate potential to leverage NFT creation for unique fan experiences, after which it can expand into gaming and staking. Mentha Partners is eager to help grow the MotorDAO ecosystem globally.”

About Jerry Milani

Jerry Milani is a writer and public relations executive living in Bloomfield, N.J. He has worked in P.R. for more than 30 years in college and conference sports media relations, two agencies and for the International Fight League, a team-based mixed martial arts league, and as a freelance professional. His PR clients have included Wizard World and FAN EXPO, which produce pop culture and celebrity conventions across North America, USA Wrestling, the National Lacrosse League, Strat-O-Matic Media, the Pacific Life Open and Pilot Pen Tennis tournaments and dozens of others. Milani is also the director of athletic communications for Caldwell University. He is a proud graduate of North Rockland High School and Fordham University and when not attending a Yankees, Rams or Cougars game can be reached at Jerry (at) JerryMilani (dot) com.

Check Also

A.L. Shuts out N.L. in Strat-O-Matic All-Star Game Simulation

All Pro Reels Run-scoring singles by Toronto’s Vladimir Guerrero Jr. in the fourth and Tampa ...