The team behind NFT collection Racing Social Club (RSC) is set to raise funding to fight inequality and support drivers in the racing world.
In a press release shared with CQ, the team will use the RSC fund to address financial and gender inequality — two of the most common issues in the racing industry, according to the release.
RSC observes that the financial requirement to get into racing is a challenge for some drivers. Notably, Simona de Silvestro, a test and development driver at the Tag Heuer Porsche Formula E team, said in an interview with Julius Bär that starting a career in racing “is a big investment.” Through the fund, RSC hopes to aid racers to lessen their financial problems.
Furthermore, RSC is looking to champion gender equality. In a recent AMA with RSC, racing driver Bianca Bustamante revealed that women have difficulties competing in such a male-dominated sport. Although the team did not go into detail about how the RSC fund will be used in this matter, they aim to raise awareness of gender inequality “until there is no distinction between men and women within the sport of racing.”
The RSC Fund will consist of 30% of all royalties from secondary market fees in transactions involving the RSC NFT collection. The system also incorporates a DAO structure to enable community members to vote on decisions, such as deciding on the fund beneficiaries.
Racing Social Club is an NFT collection of 3,333 Racers randomly generated in the Ethereum blockchain. Each NFT comes with utilities, including race weekends, eSports events, entertainment, VIP experiences, voting rights for our fund, and giveaways, among others. Minting of the RSC collection is set for June 29.
According to their website, the RSC team will organize events and collaborate with racers to grow the Racing Social Club brand and introduce more exclusive benefits to its community.