MOORESVILLE, N.C. – LGBcoin.io has counteracted its recent rejection from NASCAR by doubling down on its financial commitment to Brandon Brown and his race team, Brandonbilt Motorsports, in an expanded two-year sponsorship and personal endorsement deal.
The partnership between Brown and the cryptocurrency coin has been created for Brown’s participation in publicity events, videos, crypto conferences and racing-related events. Car decals are not included, as NASCAR informed Brandonbilt Motorsports Tuesday evening that the sanctioning body will not approve the team’s sponsorship from the LGBcoin.io cryptocurrency, at least in the form of an on-track presence.
The team announced the sponsorship on Dec. 30, but the following days revealed the sponsorship and scheme had not gone through the proper approval process, with both being approved without proper understanding of LGBcoin’s context.
LGBcoin is decentralized meme cryptocurrency that was created to play off of the “Let’s Go Brandon” slogan. The “Let’s Go Brandon” phrase stems from Brown’s maiden NASCAR Xfinity Series victory at Talladega (Ala.) Superspeedway last fall.
With the deal, Brown becomes a holder and endorser of the crypto product.
“I’m working to achieve my own American dream,” Brown said in a statement. “I’m humbled and thankful for LGBcoin.io’s reaffirmed support for my professional journey and their commitment to maintain a patriotic message. LGBcoin.io has already demonstrated incredible potential and I’m excited to help build this brand through the 2022 season and beyond.”
According to a release, the initial Dec. 30 sponsorship announcement had the highest single-day viewership and media reach of any crypto project in industry history, engaging “millions of fans with coverage from nearly every major media brand, spanning sports, news, politics, crypto, racing and entertainment publications.”
A release also revealed LGBcoin.io has reached a market cap of $580 million and added “thousands of new coin holders within a 24-hour period.”
“That kind of excitement and interest in the project, in Brandon, and in a pro-America message is the driving force behind LGBcoin.io’s decision to double-down on its commitment,” LGBcoin.io Foundation officials said. “The project hopes those passionate about America and free speech will support Brandon and the project.”
“We’re standing firm with Brandon. He is first and foremost a terrific race car driver and symbolizes everything that’s great about this country. Brandon proved that with enough hard work, passion and talent, anyone can be successful in America. We’re also proud to be associated with his positive outlook, regardless of the challenges thrown his way.”
“Brandon Brown is a rising star in motorsports,” LGBcoin.io Foundation continued. “His impressive talent, passion and achievements behind the wheel deserve to be rewarded and celebrated, and nothing will deter us from driving that message home.”