Does the creation of ChelseaDAO signify the decentralization of the sports industry?

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

On March 18, according to the well-known Chelsea news reporting account ChelsTransferb, some Chelsea fans have formed a group ChelseaDAO, they plan to raise funds by selling tokens on the network, and participating fans can vote on their bid proposals and Final vote on club operations.
ChelseaDAO calls on its official website: “Football for the people, for the people, determined by the people”. The goal is to ensure that Chelsea FC is run by the fans and becomes a real football club. The members of ChelseaDAO work towards a common goal: to buy and operate a football club. Although it is impossible to buy the completed club in a short period of time, it is reported that the fan group plans to issue Token crowdfunding to purchase 10% of the shares of Chelsea Club. After the success of the plan, fans participating in ChelseaDAO will be able to vote on the operation of the club Governance.

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

In the past year, the boom around virtual worlds, Web 3.0 and DAO has prompted people to analyze these new concepts actively or passively. From idols to the masses, this trend has gradually extended to all areas of life. In fact, cryptocurrencies have already been rapidly adopted in the entire sports world.

Improve fan participation and participate in team operation and governance

Could Chelsea be the next Manchester United? After Abramovich’s assets were frozen, Chelsea attracted the attention of many rich owners. One of ChelseaDAO’s narratives is that, in the eyes of the rich, the club may be just an investment when the owners cannot guarantee to run the club with the interests of the fans at the center.

The DAO can ensure that Chelsea FC is run by the fans and becomes a real football club. ChelseaDAO buys 10% of the shares before actually buying a team. In the old yuppie’s view, it’s beneficial to take a gradual rhythm, slow down the influx of speculators and leave time for real fans They do their homework, learn time for cryptocurrencies, DAOs, team ownership, and even the discord voting system, until they can achieve substantial decentralization, so that fans in the community have enough voting rights, and future decisions about the team will be Can outperform any wealthy owner who sees his team as an investment opportunity.

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

For the sports industry, especially football teams, the establishment of the DAO community is not to compete with other football DAOs, but to fight against the rich owners who run the team, implement a progressive decentralization strategy, and help diversify ownership Thrive and create a clear path to regulatory compliance.

Managed by token holders from around the world and seeks to replace traditional corporate hierarchies with a flat management structure. The main goal is not to initially fundraise or run for the immediate purchase of a team, but to build the most passionate global football community, launching a plethora of spin-offs and new experiences for the football world.

In fact, it is the features of smart contracts that allow true fans to become “real members” of the club, from simply voting on ticket prices to voting on who should play, owning and managing the teams they support like a company, with exclusive tokens The value is tied to the club’s financial position, and a portion of the revenue generated can be stored in a virtual vault and used to further develop the club as new projects are developed.

NFTs add value to sports collectibles

In March, PricewaterhouseCoopers (PwC), a multinational professional services network that provides business advisory services, said in its latest report that non-fungible tokens (NFTs) are poised to become “a critical part of sports technology infrastructure.”

Dapper Labs’ NBA Top Shot has proven it. NBA Top Shot is an NFT marketplace where fans can buy, sell and trade NBA moments embedded in NFTs. NBA Top Shot generated nearly $500 million in revenue in the first quarter of 2021, making the total transaction volume of NFTs over $1.5 billion in the first quarter, a 2,627% increase from the previous quarter. Among them, the top three platforms, NBA Top Shot, OpenSea and CryptoPunks contributed 73% of the total transaction volume.

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

FanCraze, a digital cricket NFT collectibles platform, announced the completion of a $100 million Series A financing, led by venture capital firms B Capital Group and Insight Partners, with participation from South Korean investment firm Mirae Asset and football superstar Ronaldo.

Last year, the news broke that Ronaldo’s NFT cards were sold at sky-high prices. This year, Ronaldo personally invested in NFT companies. This phenomenon is enough to show the strong out-of-the-circle effect of NFTs, because the definition of NFTs is non-homogeneous items. Each one is unique and limited, there are no replicas, and it records its immutable right on the chain. Therefore, this also makes the sports collectibles market, which has great investment value, more room for appreciation.

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

Sports collectibles themselves have investment and collection space, and the gameplay and profit model are actually relatively simple. The attributes of star cards are divided into common and rare characteristics. Rare cards are valuable, and the price of a star signature or complete set is higher, which also happens to be the same as NFT. rarity is similar. The development of team-related digital collections in the NFT ecosystem can achieve excellent commercial results and economic benefits.

The second-largest use case for digital assets in the sports industry is considered to be event tickets, which can provide holders with tokenized passes and improve the experience for the club’s loyal fans. Tickets are an important use of NFT applications. The purchase process of NFT tickets can reduce the speculation of tickets by scalpers. Sports event organizers can also track the reselling history and transaction prices of speculators through the blockchain network.

Fans own NFT tickets and enjoy many exclusive rights. After combining digital assets and Metaverse, holding tokens may have more experience content, such as player cameras, bench cameras, and even locker room access. This could have considerable appeal to fans scattered around the world.

Does the creation of ChelseaDAO signify the decentralization of the sports industry?

Crypto industry + sports industry open new business value

The increasingly rich practical application promotes the deepening of the integration of non-fungible tokens and the sports industry. The NFT platform promotes the development of the sports industry in various ways and endows the industry with huge commercial potential. Many teams have been sponsored by crypto and blockchain companies, and crypto assets such as NFT and fan tokens have also created more and newer value for sports organizations.

In addition to the exciting moments of the game we mentioned above, there are many aspects of the commercial value that the combination of the crypto industry and the sports industry can develop. For example, we buy virtual land in the Metaverse and build a virtual stadium. Another example is that even if the advertising space in the real world is only a few tens of seconds, it is still difficult for major brands to find a lot of money. During the Metaverse World Cup game, a one-minute advertisement of the old yuppie official account is inserted, and so on.

From small star NFT collection cards to large club management rights, the two industries have undergone profound changes in the cross-integration. The decentralization based on blockchain technology and the rise of new technologies such as storage have provided many services including sports. Different industries open up a wide range of possibilities.

The DAO could be one of the solutions to reshape the sports industry and change community relations. Under the combined effect of the native value of sports assets, liquidity premium and fan consensus, sports investment will also create a more robust and sustainable model.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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