INDIANAPOLIS — The power of the Indianapolis 500 has lured a completely different sponsorship category to Conor Daly’s Chevrolet at Dreyer & Reinbold Racing/Cusick Motorsports.
Polkadot is the primary sponsor for the No. 24 car piloted by Daly in the upcoming Indianapolis 500. This partnership represents the first time a major athlete’s sponsorship has been decided by a vote using blockchain technology.
The proposal to sponsor Daly passed with an overwhelming 95.8 percent approval, demonstrating the community’s eagerness to showcase blockchain technology’s real-world applications and Polkadot’s vision for a freer, more open web (Web3). Launched in 2020 by Ethereum Co-Founder Gavin Wood, Polkadot is positioned to serve as the powerful, secure core of Web3.Polkadot’s decentralized governance places the community at the center of decision-making processes; every holder of the Polkadot token (DOT) has a voice towards shaping the platform’s future direction.
A HISTORIC FIRST!@Polkadot—the powerful, secure core of Web3—will be the primary partner of Conor Daly’s No. 24 Chevrolet!
— Dreyer & Reinbold Racing (@DreyerReinbold) April 9, 2024
This is first time a major athlete’s sponsorship has been decided by a community vote using blockchain technology.@Polkadot | #DrivenByDRR | @IndyCar |… pic.twitter.com/bTXc8hHMST
This collaboration represents a significant shift from the traditional models of sports sponsorships, which are typically negotiated behind closed doors. By utilizing Polkadot’s OpenGov platform for decentralized governance, the Polkadot community is pioneering a new, transparent way to engage with sponsorships, showcasing the immense potential of blockchain technology to enable transparent, community-led decision-making in the realm of sports and beyond.
“We are delighted to welcome Polkadot as the primary sponsor of the 24 car for the Indianapolis 500,” said Dennis Reinbold, Team Owner of Dreyer & Reinbold Racing. “Polkadot’s commitment to technological advancement and pushing boundaries aligns perfectly with our team’s ethos of excellence and continuous improvement. Together, we aim to make a significant impact on and off the track and reach fans worldwide.”
Daly is part of a two-car effort at Dreyer & Reinbold, that also includes 2014 Indy 500 winner and 2012 NTT IndyCar Series champion Ryan Hunter-Reay.
Daly explained the reach of the blockchain community.
“The fact that thousands of individuals in the Polkadot community – not a corporate marketing team – used their voices to vote and select me as their ambassador is an incredible honor and reflective of the power of what a more free and open internet can look like in the future,” Daly said. “The fact that I’m racing not just for a brand name or logo, but representing developers, investors and regular people that are building tomorrow’s web, is thrilling and overwhelming. We’re bringing power back to people, while making sports history.”
Chris Wade, the Polkadot community member who championed the proposal, remarked, “This landmark sponsorship proves the transformative power and trust of blockchain technology in making a previously exclusive process open and inclusive. It’s a testament to Polkadot’s forward-thinking innovative community, robust network, and progressive governance model. It’s a blueprint for future collaborations.”