NASCAR has traditionally been dominated by old-school, established teams like Hendrick Motorsports and Richard Childress Racing. But the sport has seen astonishing growth in recent times. Michael Jordan and Denny Hamlin saw an opportunity to infuse new blood and energy – and we have 23XI Racing as a result. As part of 23XI Racing and DoorDash’s collaboration, they recently launched a campaign with Serena Williams.
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Michael Jordan has been a serial winner in the NBA. His long list of achievements, trophies, and records is evidence of it. But since he retired from the sport, the legend has not stopped. Jordan has been an active investor in varied industries, and at most times has found great success in them. His entrepreneurial adventures include the likes of Sportradar, Cincoro, and aXiomatic among many others.
23XI Racing is another one on that list. He started the team in 2020 in collaboration with Denny Hamlin. Hamlin is a great choice for it given the good relations the two have. The driver has also gained vast experience in his 18 years of racing in NASCAR. The young team continues to learn the ropes of competing with the big names of NASCAR.
The potential, however, has been spotted by sponsors. The team has found itself backed by some big names including McDonald’s, Dr. Pepper, and Columbia Sportswear to name a few. DoorDash, the online food ordering service, happens to be a founding partner and sponsor of the team.
23XI’s official Instagram page also dropped a story of their campaign with the tennis GOAT. DoorDash’s campaign for the wrapping packs should be a massive success given Serena is endorsing their GOAT Guide!
Michael Jordan isn’t always successful with his ventures
Jordan has hunger for success. Evident by his sporting and entrepreneurial achievements. However, those successes have naturally been accompanied by failures.
In the recent crash in the cryptocurrency market, Jordan has been reported to be one of the biggest losers. FTX, one of the biggest cryptocurrency exchanges, recently collapsed and declared bankruptcy.
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As a result of that, the cryptocurrency market has seen a massive fall which has further affected the value of the NFT market.
Jordan’s 6 Rings NFT collection reportedly lost over 90% in value by mid-November. The collection was based on Solana platforms, HEIR, and MagicEden. However since Solana has been closely connected with Alameda Research (with which FTX had strong ties), Jordan’s NFT collection has been hit hard.
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The loss in absolute terms might be substantial, it would be hard to fathom that the $1.7bn man would be too hurt by it. He’ll find another way to grow his wealth soon enough.