Good find. This 1965 Corvette 'gasser' is an example of the North American drag racing rage in the '50s, '60s and '70s...Gassers. In the case of midyear Corvettes like the one above, they generally removed the entire independent rear suspension (IRS), replacing it with a straight axle from a standard vehicle. Corvettes were never designed for drag racing and the IRS is not intended for the INSTANT grab of asphalt provided by giant slicks. The first thing that goes under that torque are one of the four U-joints on the two IRS half-shafts. Or, failing that, one of the two U-joints on the driveshaft. The excitement of a separated shaft flailing around in the fibreglass floor (yes the floors were fibreglass until catalytic converters came along in the late '70s), six inches from the driver's butt, is something most people prefer to do without.
You can see the giant rear differential under there, probably a Ford (which was all the rage at the time for its strength). This 'Jolly Green Giant II' car was well-known around the eastern US in that era. And, by definition, gassers did away with the independent coil-sprung front suspension, using a simple I-beam front end, something like that from an old Ford Econoline van; light weight but stumbles around a corner.
To go fast in a straight line, they literally made the car liable to roll over on its side in a hard, fast turn. LOL. Different strokes, for different folks. LOL. Still. a 1/4 mile in a straight line was all it was about for these guys. Take note of the parachute since the 4-wheel disc brakes were long gone with the Corvette 4-wheel independent suspension.