Drone Racing League (DRL) has announced a partnership with Playground Labs to deliver the first play-to-earn virtual drone competition. It will be hosted on the Algorand blockchain, already a major DRL sponsor.
DRL partners with Playground Labs
Drone Racing League (DRL) and Web3 game infrastructure developer Playground Labs will utilize the Algorand blockchain to create the first play-to-earn drone game in the metaverse, the league announced recently.
Players will race virtual DRL-designed drones to win cryptocurrency and non-fungible tokens (NFTs) on the Algorand blockchain. Further game details have not yet been finalized. A DRL spokesperson told CoinDesk that the league would poll its community to determine what style of gaming they prefer.
According to Playground Labs CEO Sam Peurifoy, “The Drone Racing League is the most innovative, inclusive and high-tech sport, and DRL is made for the metaverse and the future global economy, where P2E games will create community, economic sustainability and authentic engagement for participants around the world."
The announcement is in line with DRL’s current projects, which include racing with physical drones, which use 5G technology from partner T-Mobile, and virtual matches using their simulator.
DRL’s goal is to build their fanbase with play-to-earn incentives such as NFTs that can be used in-game and traded. This might include customized racing drones or digital wearables. Blockchain-based ticketing is also being planned.
The global drone market was valued at $9.5 billion in 2020 and is expected to grow 25% per year, reaching $92 billion by 2030, of which 70% will be outside of military, police or public surveillance applications, according to ABI Research.
Algorand’s small environmental footprint could become a major selling point for DRL’s target audience. The blockchain aims to be the “greenest network.”
Ongoing Algorand partnership
In September 2021, Algorand became a major DRL sponsor, signing a five-year deal reportedly worth $100 million, the largest partnership in DRL’s history. Algorand was the title sponsor for its world championship extravaganza, held January 5 at T-Mobile Arena on the Las Vegas strip, which included a performance from American rock band Weezer.
The eye-catching event featured drones illuminated by thousands of LEDs flying through a neon-lit course. It coincided with the opening of the Consumer Electronics Show (CES), which drew 40,000 visitors.
According to DRL President Rachel Jacobson, their fans want to see the sport constantly evolve: “We have ambitious plans to deliver a unique sports experience in the metaverse. We are incredibly excited about how this partnership will change the game for sports and tech fans and the blockchain community around the world.”
About DRL
Launched in 2020, Drone Racing League is the professional drone racing organization for elite pilots to race custom-built racing drones traveling at up to 90 miles per hour through complex courses full of obstacles. The 2021-22 season had 12 pilots competing across 14 racing levels.
Drones are equipped with cameras, and pilots wear goggles that stream live First Person View (FPV) video feeds, so they—and the audience—feel as if they’re inside the cockpit. Races are held in iconic sports stadiums and historic venues all over the world, as well as in DRL’s SIM, its drone racing simulator. Aspiring pilots are encouraged to download the app and start practicing!
The competitions are covered on sports outlets around the world, including NBC, NBCSN, Twitter, Fox Sports, Sky Sports, ProSieben, and Weibo. In 2021, DRL’s TikTok channel had 2 million followers.
About Playground Labs
Playground Labs, an affiliate of Hivemind Capital Partners, develops Web3 decentralized autonomous organizations (DAOs) and play-to-earn gaming platforms for the metaverse, including virtual economy infrastructure that enables players to generate real income.
Their first two projects, SXM DAO and Kapital DAO, are designed to enable greater community participation, supported by sustainable tokenomics. Tokens can be staked in pools in which smart contracts repurchase tokens on the open market and distribute them as staking rewards.
Sports and Crypto Partnerships
Partnerships between sports organizations and cryptocurrency platforms are becoming more common. Crypto.com exchange is an official partner with several sports organizations, and FTX exchange secured naming rights to the Miami Heat’s arena and California Memorial Stadium at UC Berkeley.
Meanwhile, the 2022 Super Bowl was dubbed the "Crypto Super Bowl" as it featured ads from four of North America’s largest crypto exchanges.
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.
