NASCAR Is Going Crypto – Will Others Follow?
Recently, JD Motorsports’ driver of the No. 4 Chevrolet Landon Cassill received a new-age sponsorship offer from Voyager Digital, a crypto-asset trading platform. The organization agreed to not only sponsor the car, but to pay Cassill’s full salary in cryptocurrency, breaking new ground for the payment method.
The sponsorship raises a variety of questions. Will other businesses, pro sports leagues and organizations follow suit and dip their toes into crypto? What challenges does this create in pay standardization and finance management? What regulations would need to be set up if more athletes and other employees take crypto as salary?
To find some answers, Voice of B2B Daniel Litwin invited Joey Ryan, CPA, to this episode of MarketScale TV. Ryan is the Co-founder and CFO or Gilded, which produces an invoicing, payment and accounting software solution working to integrate digital currencies into businesses’ existing financial ecosystems.
The two dove into high-profile successes in crypto investment from athletes, such as the NFL’s Russell Okung, and how they represent potential financial freedom that fiat currency may not offer.
They also explored where it might be most useful for businesses to take on crypto assets and investments in their operations and why, as well as if it makes sense for other industries to consider crypto portfolios as salary.