Crypto enthusiasts dao raising billion buy

crypto enthusiasts dao raising billion buy

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.


PEOPLE and would be able to collectively decide where the document should be housed.

The auction took place on Thursday at Sotheby’s in New York, with the item described as “an exceptionally rare and extraordinarily historic first printing of the United States Constitution.” It first appeared at public auction 33 years ago and is one of just 13 copies of the Official Edition of the Constitution.

According to Sotheby’s, the document was one of 500 originally issued “for submission to the Continental Congress and for the use of the delegates to the Constitutional Convention.” After an intense bidding war between the DAO and others, a private collector won the historic artifact for $43 million USD.

The group told donors that they will be refunded their pro-rata amount minus “gas fees” used to process crypto transactions through the Juicebox platform.


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.


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.

The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”

The pro football team is valued at just under $4 billion, and it is expected to garner the biggest price tag in North American sports history, according to ESPN.

Trustees of the team said in a statement that the goal is to sell the team by the start of the 2022 NFL season. O’Brien tells CNBC that while the smart contracts and crypto wallets are set up, their DAO doesn’t officially go live until the first week of March, so the “BuyTheBroncos” cause will need to cover a lot of ground fast to have a chance.

But the crypto collective has a secret weapon in Colorado Gov. Jared Polis, who recently announced plans to accept cryptocurrencies for state tax payments by this summer.

The idea that you could be selected to go into space because of it, now that’s interesting.”

Like ConstitutionDAO’s LINKS token, MoonDAO has MOONEY, a cryptocurrency given out in exchange for work done to support the DAO.

Moon Parties

MoonDAO purchased a second Blue Origin seat for a different launch taking place this fall, and will choose one of its members at random to make the second trip. Members of the DAO minted free “Ticket to Space” NFTs in order to be eligible.

Moncada-Larrotiz says the DAO has already chosen the individual who will go to space next, and that he/she has agreed to attempt the mission. The DAO chose the individual, as well as a few alternatives, using an on-chain randomizer from Chainlink to ensure authenticity.

Launching the MOONEY token and sending members to space are phase one and two of the DAO’s mission.

The DAO’s mission is to “decentralize access to space,” with the ultimate goal of creating its own Moon colony, according to its website.

Read more: LinksDAO NFT Sale Books First $10M Toward Buying an Actual Golf Course

At the helm of MoonDAO is Pablo Moncada-Larrotiz, an original member of ConstitutionDAO now hoping to learn from the DAO’s mistakes in a new venture.

“I’m just kind of in love with the idea of DAOs in general, I think that they have a lot of promise, like a tool set for people to collaborate and coordinate online,” Moncada-Larrotiz told CoinDesk in an interview. “When you buy an NFT, you know, it’s pretty abstract.

The DAO is regulated by smart contracts which ensure every single member is subject to the same rules.”

The crypto group includes people from a wide range of occupations like athletes, accountants, attorneys, and software developers, with a stated aim to buy the Denver Broncos “as a community,” and put the ownership of the team in “the hands of the fans.”

If the group fails to buy Broncos in whole or in part, all the money collected will be reimbursed. The group’s DAO is expected to go live in the first week of March.

ESPN estimates the Denver Broncos to be valued at just below $4 billion. The team’s trustees earlier said that they intended to sell the Broncos by the start of this year’s season.

If the Broncos are sold, it would be the highest price tag for a team in the history of North American sports.

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.

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.

A decentralized autonomous organization (DAO) called MoonDAO sent someone to space on Thursday, one of the biggest successes yet for such a crypto-crowdfunded project.

The DAO didn’t send just anyone up – Coby Cotton, a member of the viral YouTube trick-shot group Dude Perfect, was chosen in a Discord vote by the DAO’s more than 5,000 members to be its astronaut representative. The DAO’s future ambition includes hosting parties on the Moon.

Crowdfunding DAOs, which are groups of crypto-enthusiasts that come together and purchase a currency or non-fungible token (NFT) to raise funds towards a common goal, have been more prone to failure than success.

The genre was popularized in Nov. 2021 by a group called ConstitutionDAO, which came together to raise $40 million to purchase an original copy of the U.S.

Despite the impressive sum, they were beat out by Citadel’s CEO Ken Griffin.

  • The SuperDAO tried to raise money to air an ad during the Super Bowl but could not come up with $6.5 million needed for 30 seconds of airtime.
  • DecentralandDAO. The popular metaverse has a decentralized governing body in charge of nearly 100,000 pieces of digital land. The DAO serves as a sort of digitalized homeowners association that gives members voting power over important decisions within the community.
  • The organizers of ‘BuyTheBroncos’ DAO believe if they can raise about $1 billion then they will try to convince traditional investors to jump on board for the remaining $3 billion.

    For Broncos fans, the chance to own a part of the team and be involved in the decision-making process could be huge.

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