EXHIBIT 10.68 PPC RACING/NETTAXI.COM LETTER OF INTENT This letter is to signify that Nettaxi.com, as represented by Vice President of Sales and Marketing Robert Speicher, intents to enter into a one year sponsorship agreement with PPC Racing, as...

EXHIBIT  10.68

                             PPC RACING/XXXXXXX.XXX

                                LETTER OF INTENT

This  letter is to signify that Xxxxxxx.xxx, as represented by Vice President of
Sales  and  Marketing  Xxxxxx  Xxxxxxxx,  intents  to  enter  into  a  one  year
sponsorship  agreement  with  PPC  Racing, as represented by owners Xxxx Xxxxxx,
Xxxxx  Xxxxxx,  and Xxx Xxxxxxxx.  Sponsorship will be for logo placement on the
"C''  post  of  the #10 Nestle Nesquik car, with the option to move to the Lower
Quarterpanel  location,  for thirty-two (32) NASCAR Xxxxx Grand National events.

TERMS.

A.   The Sponsorship  Fee shall be two hundred  thousand  dollars  (200,000) for
     thirty-two (32) NASCAR Xxxxx Grand National events.

B.   Nettaxi  shall have the ability to execute an escape clause within four (4)
     weeks of  February  19,  2000,  the date of the  first  event  for  Nettaxi
     sponsorship participation.

C.   Should Xxxxxxx decide to execute the above escape clause,  the  Sponsorship
     Fee will be in a prorated payment to PPC Racing.

PERFORMANCE.

The  following  are  valid  for  the  duration  of  the  Xxxxxxx.xxx sponsorship
agreement  with  PPC  Racing:

X.   Xxxxxxx  will  develop and host  Websites  for drivers Xxxx Xxxxx and Xxxxx
     Xxxxxx,  and for PPC Racing.  PPC Racing will provide the content for these
     sites within one week.

B.   Nettaxi and PPC Racing will promote the location of the above Websites.

C.   PPC  Racing  will  introduce  Nettaxi  to a minimum  of six (6)  additional
     drivers  and team  owners  within  four (4) weeks of the first  sponsorship
     event. The purpose of these  introductions is to obtain  agreements to host
     additional driver and team Websites.

D.   PPC Racing will introduce  Nettaxi to an additional  for (4) sponsors.  The
     purpose of the  introductions  is to develop  partnerships  to promote  the
     sponsors' participation in NASCAR, and to develop agreements for the use of
     the Nettaxi CD-Rom.



PAYMENT.

A.   The  initial  sponsorship  participation  of four weeks  will  consist of a
     payment of Fifteen thousand dollars  ($15,000) in cash, and twelve thousand
     five  hundred  shares  (12,500)  of  unregistered  shares  of  stock  at  a
     determined  market value dated  February19,  2000.  The above  unregistered
     shares  shall  include   piggy  back  rights  for   Nettaxi's   next  stock
     registration.

B.   Upon election by Nettaxi to sponsorship for the remaining twenty eight (28)
     NASCAR Xxxxx Grand National events, Nettaxi will have the option to:

     1) Make four (4) equal payments for the balance of the race season totaling
    one hundred and seventy five thousand dollars ($175,000), or give PPC Racing
    the  option  of  one  of  the  following:

          a.   Four equal  installments  of twenty one  thousand two hundred and
               fifty  dollars  ($21,250)  for a total of  eighty  five  thousand
               dollars ($85,000) in cash, and one hundred thousand  unregistered
               shares priced at the market value dated  February 19, 2000,  with
               piggy back rights to Nettaxi's next stock registration.

          b.   Four equal  installments  of twenty one  thousand two hundred and
               fifty  dollars  ($21,250)  for a total of  eighty  five  thousand
               dollars  ($85,000)  in cash,  and one  hundred  thousand  dollars
               ($100,000) in stock options  vested  immediately at market price.
               These share options will be registered when exercised.

     2)  Nettaxi  must  notify  PPC  Racing of its  intent to  proceed  with the
     sponsorship by March 10, 2000.

INCENTIVE.

Nettaxi will provide PPC Racing with an additional fifty thousand (50,000) share
options  if  PPC  Racing  achieves  the  following  by  the  end  of  the  year:

A.   Establishment of twenty-four (24) driver,  and or team,  Websites hosted by
     Nettaxi.
B. Six (6) sponsors who have  contracted  with Nettaxi to use the
     Nettaxi CD-Rom, or to allow Nettaxi to host the above sponsors' Websites.

OPTION.

Nettaxi  has  the  option  to  upgrade its sponsorship to the lower Quarterpanel
position  on  the  Nestle  Nesquik  car  for  the  remainder  of the year for an
additional  four  hundred  thousand  dollars ($400,000).  The Lower Quarterpanel
upgrade  will  be  based  upon availability of the inventory.  Nettaxi will also
have  a  first  option  to  renew,  or increase its sponsorship agreement for an
additional  two  (2)  years.



XXXXXXX.XXX,  PPC  RACING  LETTER  OF  INTENT,  PAGE  3


COMPETITION.


PPC  Racing  agrees  not  to enter into a sponsorship agreement with a competing
Internet  company  without  prior  approval  from  Nettaxi



Agreed: /s/  Xxxxxx  Xxxxxxxx                         Date:  February  29, 2000
       ---------------------                              --------------------
        Xxxxxx  Xxxxxxxx,  Representative,  Xxxxxxx.xxx



Agreed:  /s/  Xxx  Xxxxxxxx                         Date:  February  29,  2000
         ------------------                                -------------------
        Xxx  Xxxxxxxx,  Representative,  PPC  Racing