The next owners of the Broncos may be a humble DAO organized by a bunch of execs who might land up paying the foremost ever for a North yank sports team.
A new localised autonomous organization (DAO) has been fashioned to boost cash in an endeavor to buy the denver Broncos U.S. National conference team for around $4 billion.
BuyTheBroncos DAO aims to administer fans an opportunity to have a bit of the team regardless of their level of wealth. one amongst the organizers of the DAO, former Cisco worker Sean O’Brien, told CNBC on Feb. 19 that:
“The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”
If it succeeds, it might be part of the green bay Packers among NFL groups closely-held by the fans. Fans wanting to possess a stake of the Broncos through the DAO might contribute as very little as they like, as opposition the $300 per share for the Packers.
Members of the DAO who contribute Ether (ETH) to buy the team are going to be issued a nonfungible token (NFT) that BuyTheBroncos.com says “will double as your ‘membership card’ that grants you access to the cooperative.”
BuyTheBroncos presently incorporates a range of execs among its 630 Twitter followers, including attorneys, accountants, software developers, skilled athletes, and a scientist.
Trustees of the team have expressed some urgency in shifting possession over to a brand new party before the beginning of the 2022 season, however there'll be no discount for the customer. ESPN expects the team to sell for $4 billion, creating it the best worth for a North american sports team in history.
It is unclear whether NFL commissioner Roger Goodell would permit a DAO to have and operate a team.
( Brian Newar, Cointelegraph, 2022 )