Virtual prizes for virtual races: RGT Cycling to offer victors NFTs
NFT’s created as awards for men’s and women’s winners in pro, hand cycling and community races.
Virtual platform RGT Cycling has announced it will be awarding NFTs, or non-fungible tokens, to victors in the Echelon Racing League.
The league begins on the 20th November 2021 and will see 40 teams and 240 riders compete in the eight-round pro event on the free to use virtual cycling platform.
Teammates will work together to compete across a variety of digital parcours. Races emulate those during the in-real-life Echelon events, including those from the US premier calendar.
NFTs are unique digital assets that can be used to represent easily-reproducible items such as photos, videos and audio with blockchain technology validating proof of ownership.
They have come under fire this year for their potential to contribute to climate change, although the scale of their impact varies and there have been moves to make them more sustainable.
Eric Hill of Project Echelon said; ‘Issuing NFTs adds to the prizes and as they are awarded equally for winners of each series, we hope they will serve to introduce a new path for supporting and rewarding athletes’.
Last year the event attracted teams such as Rally Cycling, Canyon eSports, Tibco Silicon Valley Bank Pro Cycling and the USA National Team.
The Echelon Racing League will also be inclusive of Community events and a first of its kind para-cycling series, which is being developed in collaboration with the Paralyzed Veterans of America and USA Paracycling.