World Championship Air Race Officially Launches 2023-24 Race Series, and Announces Global Strategic Partnership with iSHANG and Coinstreet on NFTs and Web 3.0 Games

• Air racing is one of the world's most popular motorsports and has been accredited by the Fédération Aéronautique Internationale (FAI) as a World Championship sporting event since 2006 (“Air Race Sport”).
• From December 8-11 at the International MotorXpo Hong Kong 2022, World Championship Air Race (WCAR) will officially launch the 2023-24 Race Series of air racing competition and showcase a real-size model of a World Championship Air Race Edge 540 race plane.
• WCAR, iSHANG, and Coinstreet jointly announce a global strategic partnership to launch a limited edition "World Championship Air Race NFT", “Air Race Championship Club” and to develop Web 3.0 Air Race Game.

HONG KONG, Nov. 29, 2022 /PRNewswire/ -- Air racing is an aerial motorsport that demands a combination of speed, precision, and skill. It is one of the world's most popular motorsports, after Formula 1 and Grand Prix Motorcycle Racing. World Championship Air Race (WCAR) will officially launch the “2023-24 Race Series” of air racing competition at the International MotorXpo Hong Kong 2022 ("IMXHK 2022") and showcase a real-size model of a World Championship Air Race Edge 540 race plane. At IMXHK 2022, World Championship Air Race and iSHANG Technology Limited ("iSHANG") will also host a signing ceremony for collaboration on limited edition "World Championship Air Race 2023-24 Race Series NFT" which will start accepting pre-sale whitelists -- https://ishang.com/drops/world-champ-air-race.

Globally, World Championship Air Race announces strategic partnership with Coinstreet and iSHANG on Web 3.0 games and different types of NFTs, such as Host-City NFT, Pilot NFT, NFT-membership that evolve around the World Championship Air Race intellectual property rights.

World Air Race Sport is the most advanced aerial challenge in existence, the event involves competitors navigating a challenging obstacle course within the fastest time. Pilots fly individually and complete tight turns through a slalom course consisting of pylons, known as "Air Gates." Flying just meters from the ground, they race against the clock whilst reaching speeds of up to 370 km/h, requiring a combination of precision and skill unmatched in the world of aviation. Pilots must be in peak physical condition as they endure forces up to 10G while navigating the technical racetracks made up of air-filled pylons.

Air Race Sport was promoted by Red Bull since 2003 and accredited by the Fédération Aéronautique Internationale (FAI) in 2006.  Each racing series was comprised a number of air races held in major cities around the world. Since 2003, this international sport event has taken place in a total of 35 cities with 94 races completed, including some of the world's most beautiful destinations such as the thriving Abu Dhabi (UAE), the picturesque Cannes (France), the vibrant seashore of Chiba (Japan), the beautiful Danube River in Budapest (Hungary), the charming Wiener Neustadt (Austria), and the iconic birthplaces of motorsports – Indianapolis (USA) and Fort Worth, Texas (USA). The races were broadcasted on TV in 186 regions around the world and attracted 280 million supporters worldwide. In May 2019 Red Bull announced ceasing Air Race Sport, and in Feb 2021 FAI announced a new promoter of the Air Race Sport, with the new name of -- The World Championship Air Race ("WACR").

World Championship Air Race to activate 2023-24 Race Series

WCAR is set to debut at the International MotorXpo Hong Kong 2022 held at AsiaWorld-Expo from December 8-11, 2022, and to officially activate publicity and promotional activities for its "2023-24 Race Series." During IMXHK 2022, a real-size model of an Edge 540 race plane will be publicly showcased for the first time in Hong Kong. Not only will the audience have a close-up view of a race plane specialized for air racing, but they will also have a chance to get an amazing shot and share it with friends on social media.

The strategic partnership encompasses different types of NFTs and Web 3.0 games

WCAR also announces its global strategic partnership with Coinstreet and iSHANG. The trio will jointly launch the limited edition "World Championship Air Race 2023-24 Race Series NFT," which will accept pre-sale whitelists at IMXHK 2022. The WCAR-iSHANG-Coinstreet partnership also encompasses future cooperation related to different types of NFTs, such as Host-City NFT, Pilot NFT, NFT-membership, and Web 3.0 games that evolve around the World Championship Air Race intellectual property rights.

Mr. C.P. Leung, Chairman of the World Championship Air Race, said, "Due to the global epidemic situation, the World Championship Air Race has been suspended for three years, and we are delighted to announce the relaunch of this once most popular flying sport event in 2023. We are working with teams in Asia, the Americas, the Middle East, Europe, and Oceania regions, and are in the final stages of discussions. We will soon be announcing all the cities for the 2023-24 Race Series."

Mr. Michael Leung, Co-Founder and President of iSHANG said, "It is a pleasure to fully support iSHANG and World Championship Air Race, a traditional Tier 1 international sports event, adopting the latest NFT technology to create new value propositions for consumers and enhance customer experience. I also look forward to extending this exciting world-class event of extreme sports to many other cities in the near future."

Mr. Samson Lee, founder and CEO of Coinstreet, commented, "Not only do we now have Web 3.0, but NFT has also developed from game-based items - 1.0 - to digital art - 2.0 - to now being a multi-purpose decentralized application that is adopted and used by brands, enterprises, financial institutions, public organizations, and governments - NFT 3.0. We fully support the strategic cooperation between the World Championship Air Race, iSHANG, and Coinstreet. We believe that the NFT 3.0 model can help bring World Championship Air Race to the metaverse and Web 3.0 space, expand new marketing opportunities and open up new target customer groups."

A market report published by Verified Market Research (VMR) projects the NFT market value to reach USD 231 billion by 2030. VMR further predicts that the sector will grow at a compound annual growth rate of 33.7% over the next eight years. A key driver of demand for NFTs is their proliferation across multiple industries and walks of life, including music, films, and sports. The limited edition "World Championship Air Race 2023-24 Race Series NFT" aims to be a major phygital NFT project in the sport industry, to join the whitelist of, please visit – https://ishang.com/drops/world-champ-air-race.

About the Fédération Aéronautique Internationale (FAI)

FAI, the World Air Sports Federation, is the world's governing body for air sports and for certifying world aviation and space records. FAI was founded in 1905 and is a non-governmental and non-profit making organization recognized by the International Olympic Committee (IOC). FAI's activities include Aerobatics, Aeromodelling, Airships, Amateur-Built and Experimental Aircraft, Balloons, Drones, Gliding, Hang Gliding, Helicopters, Manpowered Flying, Microlights, Parachuting, Paragliding, Paramotors, Power Flying and all other Aeronautic activities and Space records. For more information about FAI, please visit www.fai.org

About World Championship Air Race (WCAR)

The World Championship Air Race (WCAR) is the new promoter of the world championship competition series of Air Race Sport that is currently accredited by the Fédération Aéronautique Internationale (FAI) as the only world championship air race sporting event.  Each World Championship Air Race series will comprise a number of air races to be held in major cities around the world. At each race city, the top eight places earn World Championship points. The air racer with the most points at the end of the Championship becomes The World Champion. The series will has two pilot categories: Master Class and Challenger Class. The Challenger Class is the entry-level class for pilots before they progress to the Master Class. For more information about World Championship Air Race, please visit www.faiwcar.com

About iSHANG Technology Limited (iSHANG)

iSHANG is a member of Coinstreet, focusing on NFT and Web 3.0 business. iSHANG operates a B2B NaaS (NFT-as-a-Service) platform that provides enterprises with different types of NFT applications and vertical solutions. The iSHANG NaaS platform enables these businesses to launch tailored, brand-based NFT campaigns and incorporate NFT technology into their business processes and service offerings, while capturing Web 3.0 opportunities. iSHANG also operates a B2C NFT 3.0 marketplace that provides IP licensing, NFT creative design, minting, drops launchpad, and P2P trading platform. For more information about iSHANG, please visit –  www.ishang.com

About Coinstreet Holdings Limited (Coinstreet)

Founded in 2017, Coinstreet is an award-winning TechFin service and solution provider offering premium financial services firm for private wealth, and a professional advisory and consulting firm in Blockchain, Digital Asset, Defi, and FinTech sectors. Coinstreet's vision is to use new alternative assets such as tokenized assets, digitized securities, and NFT (non-fungible tokens), collectively referred to as TADS (Tokenized Asset & Digitized Securities), to provide additional global fundraising means for high-quality companies and to provide professional investors to high-quality alternative investment opportunities. Coinstreet provides one-stop, end-to-end solutions for TADS structure design, and overall token product lifecycle management process. Up to now, Coinstreet has assisted and participated in more than 20 blockchain, digital asset, and FinTech projects in the international market. Recently, Coinstreet was awarded "Asia Futurist Leadership Award" and "London Security Tokens Realised Awards," and has been approved for two projects in the "Digital Asset" and "Reg Tech" categories under the FinTech Proof-of-Concept Subsidy Scheme, organized by the Hong Kong Financial Services and the Treasury Bureau of Hong Kong. Coinstreet is also the co-organizer of the following two events: TADS Awards (www.TADSawards.org) – the world's first international award for Tokenized Assets and Digitized Securities sector, and the Digital Asset Series (DAS, www.digitalassetseries.org) – a series of seminars that aim to provide free education for the general public about the ever-growing landscape of digital assets and facilitate mass adoption. For more information on Coinstreet, please visit – www.coinstreet.partners