LGBCoin, the NASCAR Sponsor of Brandon Brown Comes Crashing Down in Value

Despite being thrust into the excitement of the ‘Next Gen’ era with a successful Busch Clash at the Coliseum, fans shouldn’t forget the eventful off-season between 2021 and 2022. Especially the whole Brandon Brown-LGBCoin saga, which one can safely say, has come dried up in value, literally.

Brown, the Xfinity Series driver at the center of the ‘Let’s go Brandon’ hoodoo, had announced a sensational sponsorship with a crypto meme coin, LGBCoin. Naturally, this news shot up to the top of headlines at the time.

What made it even more fascinating was when NASCAR threw in their two cents, or rather, they took them out when the decision-makers outright declined the driver and his team for such a sponsorship.

It didn’t help that one of NASCAR’s own employees had, in fact, approved the sponsorship.

In the end, there was a mutual agreement for the driver to be sponsored by LGBCoin, but outside the races and NASCAR events, in press conferences, promotional material, etc.

But it didn’t matter. Because by then, all the viral news and hype had done what it usually does in today’s day and age; it shot up the value of something which had none.

Until now.

Brandon Brown may rise up but his sponsor has come crashing down

Brown, who won the race at Talladega in 2021, has given us a glimpse of his talent and a peek into what could be a bright future as a driver. However, the future of his sponsor, LGBCoin, isn’t all that bright.

The meme coin, which had a liquidity pool of $6.2 million in January 2022, now hovers around $10,000. A 99.5% decline in the value of over 330 trillion coins means one single coin is essentially worthless today.

David Silver, an attorney for crypto investors, put the whole rise up and crash down best as he said, “They tried to monetize on a viral outbreak. Did it surprise me when something without value shot up and immediately shot down upon release?”

“No.”