UPDATE: January 2, 2022
Brandonbilt Motorsports has issued a statement explaining that NASCAR had sent them an email approving LGBCoin as a sponsor, prior to their announcement, despite NASCAR issuing statements that they had not approved the sponsorship.
Here is the full in-depth update:
Brandonbilt Motorsports Claims NASCAR Approved Sponsor LGBcoin.io Before Sponsorship Announcement
UPDATE: December 30, 2021 (5:25 PM ET):
NASCAR has issued a statement on the matter to TobyChristie.com, which falls in line with the reports from Motorsport.com and Bob Pockrass.
NASCAR told TobyChristie.com that the sponsor (LGBCoin.io) is, “Not approved… Sponsor has to go through approval process, which has not occurred.”
UPDATE: December 30, 2021 (5:00 PM ET):
Despite the team announcing LGBcoin.io as their 2022 primary sponsor in the NASCAR Xfinity Series, NASCAR has disclosed to Bob Pockrass that they have not officially approved the sponsor or the paint scheme.
NASCAR says that decision is likely to come in the next couple of weeks or so.
This is on the heels on an initial report from Motorsport.com that NASCAR claimed Brandonbilt Motorsports jumped the gun on their sponsorship announcement of LGBcoin.io.
TobyChristie.com has made multiple attempts to reach NASCAR for a comment, those have gone unanswered at this time.
After the statement from NASCAR came about the sponsorship deal not being approved hit, LGBCoin.io, which had already been up more than 20% in value on the day, had reached an all-time high of $0.000001582 (+61.62%) as of 5:16 PM ET.
ORIGINAL STORY: December 30, 2021 (10:00 AM ET):
Brandon Brown and the No. 68 Brandonbilt Motorsports team announced a full-time primary sponsor for the 2022 NASCAR Xfinity Series season in the form of a cryptocurrency Let’s Go Brandon meme coin, LGBcoin.io ($LGB) on Thursday.
The team shared the new paint scheme for the No. 68 car, which features a bold red, white and blue design complete with gold accents around the red stripe and white stars on the blue portion of the scheme.
According to the release, LGBcoin is a new, decentralized meme cryptocurrency along the same lines of the ever-popular Dogecoin and Shiba Inu coins that have been the talk of the crypto world in 2021. The coin is an ERC-20 digital collectible meme coin on the Ethereum Blockchain.
“We are thrilled to partner with Brandonbilt Motorsports and Brandon Brown for the 2022 NASCAR Xfinity Series season,” said James Koutoulas, LGBcoin HODLer and founder of Typhon Capital Management in a Brandonbilt Motorsports press release. “Brandon is not only an incredibly talented driver, but also a thoughtful individual wise beyond his years. His commitment and singular focus on his profession is inspiring and his personal story is one that we can all be proud of—an American story of success and perseverance. Brandon is truly America’s Driver.”
The goal for LGBcoin is to take a political phrase that nearly ruined Brown’s racing sponsorship hopes, and shift the focus of it toward something much more positive.
“We are proud to support Brandon this season, to help him continue his American dream,” said Koutoulas. “If we do our job right, when you think of us, and you hear, ‘Let’s Go Brandon,’ you’ll think and feel, ‘Let’s Go America.’”
For Brown, 28, this sponsorship represents the end of a whirlwind roller coaster ride of emotions over the past few seasons.
“Having the financial support of LGBcoin is incredible, especially at such a pivotal time in our team’s growth as we work to build to the next level of competition,” said Brown. “From wondering if we would have the financial means to continue to compete, to my first major win (at Talladega no less), to becoming an unintentional meme, this past season was a rollercoaster. The support of sponsors like LGBcoin empowers us to be as competitive as possible and I’m looking forward to competing hard on the track in 2022.”
While Brown and his family-owned team faced possibly shutting down early in the 2021 season, they found a way to land enough sponsorship to persevere all season long. And by season’s end, Brown had scored his first-career NASCAR Xfinity Series victory, which came at Talladega Superspeedway.
Brown also scored career-highs in top-fives (three), top-10s (nine) and laps led (27) in 2021.
Now, with a full slate of sponsorship on his side, Brown will look to soar to new heights in 2022, much like the what the digital coin that will sponsor him hopes for their future.