This for-fun project was started by me and a couple of friends who were bored at work one day and wanted something new to break the monotony of work and school. We ended up fixating on racing drones after recently watching several drone racing tournaments and wanted to test our own skills.
We ended up even making a club out of it for a while during my sophomore year of college. Each drone took about 10 hours to build and program as well as being a good starting experience on getting proficient at soldering, as there were a lot of parts that needed to be hand soldered... and learning how to deal with burns as there were a lot of those as well.
At top speeds the drones could get over 100 MPH and had a battery life of roughly 6 minutes (dependent on how long your drone would be flying at max speeds).