The cryptocurrency firm will take over DRL's title naming rights starting with its sixth season on Sept. 29.
Drone Racing League's deal with Algorand is worth $100 million over five years, people with knowledge of the deal told CNBC.
DRL is a first-person-view racing league where drone pilots race devices through neon-lit courses and compete for prize money. The company started in 2017 and is now valued at $200 million, according to PitchBook. In an interview with CNBC last week, DRL president Rachel Jacobson called the pact with Algorand "transformative" and the "perfect marriage." She added the crypto platform, and DRL both cater to a "tech-setter" fan base.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Incredible images captured from above in this year's Drone Photo AwardsA turtle heading into the sea, a volcanic eruption and a spectacular sunset feature among the winners of the Drone Photo Awards 2021.
Read more »
US military investigating Kabul drone strikeOn Monday, Pentagon spokesman John Kirby would not address specific questions about the drone strike but confirmed that U.S. Central Command is conducting an assessment of that drone strike.
Read more »
House Democrats post record August fundraising ahead of 2022The campaign organization aiming to maintain Democratic control of the House in the 2022 midterm races raised $10 million last month.
Read more »
Scaramucci's SkyBridge accelerates its move into crypto with a blockchain partnershipSkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world.
Read more »
Kevin O'Leary says he wants to more than double his crypto holdings to 7%Celebrity investor Kevin O'Leary wants to increase his cryptocurrency holdings from 3% of his portfolio to 7% by the end of 2021, he told CNBC.
Read more »