Crypto enthusiasts billion buy team

There’s no reason fans can’t do the same if organized correctly.”

A co-creator of Krause House DAO, speaking to NPR only by his pseudonym on the social network Discord, said the money raised so far will be invested into future projects focused on becoming a serious NBA team bidder one day. The exact plan for all the new cash is light on specifics, however.

Members of the group will vote on where the money should be spent. The ultimate aim is to be able to prove to franchise owners that a DAO can be an effective way to run a professional basketball team.

In its Discord community, organizers sign off from updates about the group with “WAGBAT,” which stands for: “We are going to buy a team.”

The pandemic ushered in a new generation of crypto investors, but there were few ways to use the newfound riches.

There’s no reason fans can’t do the same if organized correctly.”

A co-creator of Krause House DAO, speaking to NPR only by his pseudonym on the social network Discord, said the money raised so far will be invested into future projects focused on becoming a serious NBA team bidder one day. The exact plan for all the new cash is light on specifics, however.

Members of the group will vote on where the money should be spent.

The ultimate aim is to be able to prove to franchise owners that a DAO can be an effective way to run a professional basketball team.

In its Discord community, organizers sign off from updates about the group with “WAGBAT,” which stands for: “We are going to buy a team.”

The pandemic ushered in a new generation of crypto investors, but there were few ways to use the newfound riches.

ConstitutionDAO, sees a silver lining. No surprise, since crypto fanatics tends to be an enthusiastic and optimistic lot.

“You can see it as a bid that was lost, or you can view it as thousands of people who came together around a common cause and almost doing something amazing,” Lewkowitz said.

While crypto fans taking control of an NBA franchise may be a pipedream right now, the group’s members do now have NFTs, of course.

With the NFTs, which are images that resemble a tickets to an an imaginary Krause House basketball game, comes voting power in the community, in the form of a $KRAUSE token.

But the disclaimer on the page, the proverbial fine print, concedes to what may be the end result of this movement.

“Neither this ticket NFT nor $KRAUSE are a promise for future ownership of a team,” says the group’s site.

Copyright 2021 NPR.

Crypto enthusiasts billion buy team-e

The current record is held by the New York Mets, which was bought by Steve Cohen in 2020 for $2.4 billion.

Colorado Gov. Jared Polis has announced that he would be “thrilled” if the deal between the crypto group and the Denver Broncos goes through.
He recently revealed plans to allow the state to collect taxes in the form of cryptocurrencies by the summer of this year.

“I would be excited to be part of it myself,” Polis told CNBC. “The challenge will be it’ll take a lot of money … but you know what, if your imagination is big enough, then it can happen. And anything I can do to make it happen, I’d be happy to.”

The deal will face a big hurdle due to NFL rules passed in 1980 that banned community-driven ownership of teams.

Crypto enthusiasts billion buy team-up

Some turned to acquiring NFTs — a kind of limited-edition digital collectible — but now there is a growing push to move on to loftier ideas, like trying to help create the next version of the Internet. This, dubbed Web3, seeks to give collective control of major online sites to the crypto masses.
A DAO is part of that utopian dream, only now hoping for collective ownership of things in the real world, like an NBA team.

Investor Michael Lewkowitz, who put the equivalent of $100,000 into Krause House DAO, dismissed questions about whether the effort is just the latest crypto community publicity stunt.

“Kraus House is absolutely serious,” Lewkowitz said in an interview. “We’re used to thinking about a billionaire buying a team as a one-time event. But this will be different. It’s about people coming together and taking ownership of something they’re really passionate about.

Crypto enthusiasts billion buy team19

Crypto enthusiasts want to buy an NBA team, after failing…

Thousands of cryptocurrency investors recently raised more than $40 million and nearly — but ultimately fell short of — purchasing a copy of the U.S. Constitution.

Now, a separate group of crypto fans is building momentum with another acquisition target: An NBA franchise.

In both cases, the crypto enthusiasts organized under what’s known as a decentralized autonomous organization, or a DAO, which is an online group with a collective bank account and a mission statement.

Calling itself Krause House DAO, a reference to the late Chicago Bulls general manager, Jerry Krause, the group of some 2,000 members raised the equivalent of $4 million U.S.

in the cryptocurrency Ethereum in six days.

Some turned to acquiring NFTs — a kind of limited-edition digital collectible — but now there is a growing push to move on to loftier ideas, like trying to help create the next version of the Internet. This, dubbed Web3, seeks to give collective control of major online sites to the crypto masses.
A DAO is part of that utopian dream, only now hoping for collective ownership of things in the real world, like an NBA team.

Investor Michael Lewkowitz, who put the equivalent of $100,000 into Krause House DAO, dismissed questions about whether the effort is just the latest crypto community publicity stunt.

“Kraus House is absolutely serious,” Lewkowitz said in an interview. “We’re used to thinking about a billionaire buying a team as a one-time event. But this will be different. It’s about people coming together and taking ownership of something they’re really passionate about.

ConstitutionDAO, sees a silver lining. No surprise, since crypto fanatics tends to be an enthusiastic and optimistic lot.

“You can see it as a bid that was lost, or you can view it as thousands of people who came together around a common cause and almost doing something amazing,” Lewkowitz said.

While crypto fans taking control of an NBA franchise may be a pipedream right now, the group’s members do now have NFTs, of course.

With the NFTs, which are images that resemble a tickets to an an imaginary Krause House basketball game, comes voting power in the community, in the form of a $KRAUSE token.

But the disclaimer on the page, the proverbial fine print, concedes to what may be the end result of this movement.

“Neither this ticket NFT nor $KRAUSE are a promise for future ownership of a team,” says the group’s site.

Copyright 2021 NPR.

The Broncos are for sale. Plenty of people would like to buy the team.

In one case, literally. Via MacKenzie Sigalos of CNBC, a group of cryptocurrency enthusiasts hopes to raise $4 billion to buy the team.

“We know it sounds a bit crazy, but it’s also a bit badass,” said Sean O’Brien, a lawyer who previously worked for Cisco.
“The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”

Here’s the biggest problem, which is never addressed in the article. One person must acquire control of the team by paying 30 percent of the purchase price. That person likewise needs to have the money to operate the team. Also, all other owners must be approved by the NFL.

Some turned to acquiring NFTs — a kind of limited-edition digital collectible — but now there is a growing push to move on to loftier ideas, like trying to help create the next version of the Internet. This, dubbed Web3, seeks to give collective control of major online sites to the crypto masses. A DAO is part of that utopian dream, only now hoping for collective ownership of things in the real world, like an NBA team.

Investor Michael Lewkowitz, who put the equivalent of $100,000 into Krause House DAO, dismissed questions about whether the effort is just the latest crypto community publicity stunt.

“Kraus House is absolutely serious,” Lewkowitz said in an interview. “We’re used to thinking about a billionaire buying a team as a one-time event. But this will be different. It’s about people coming together and taking ownership of something they’re really passionate about.

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