A NASCAR driver is going to be paid entirely in cryptocurrency for the very first time as part of a sponsorship deal.
Landon Cassill's announcement came as it emerged that he has been sponsored by Voyager, a crypto brokerage firm, for 19 races.
Interestingly, it isn't Bitcoin or Ether that has peaked Cassill's interest — instead, his compensation is going to predominantly consist of Litecoin.
Explaining how he envisages this working, Cassill explained:
"I can trade it out right away before the market changes or hang on to it as the market goes up or goes down, carve out a little bit, pay my bills with it and hold the rest."
Cassill added that he has been passionate about cryptocurrencies for some time, and has seen "significant gains" to his personal portfolio in recent years. On Twitter, the 31-year-old added:
"Started mining Bitcoin in my basement, now we're here."
Closer Ties Between Crypto and Sport
Cryptocurrency businesses have embarked on a number of sponsorship deals with sports teams in a bid to increase visibility.
Indeed, a number of players have also opted to receive part of their income in digital assets.
NFL star Russell Okung is one of them. Last year, it emerged that he was going to receive half of his $13 million salary in the form of Bitcoin.
Assuming he held on to this crypto stash, he would now be sitting on some pretty hefty profits — likely making him one of the best-paid athletes in the sport's history.