Commodore
@commodore
a DAO owned pro sports club; what could go wrong? a case study thread 🧵 the conclusion will surprise you
1 reply
0 recast
0 reaction
Commodore
@commodore
@krausehouse became the world's 1st DAO to buy a pro sports team, the Ball Hogs luckily the ownership group was open minded to bringing a native DAO into the ownership group they built a novel structure of NFTs to facilitate the deal
1 reply
0 recast
0 reaction
Commodore
@commodore
every league (best thought of as a collection of owners that appoint an exec to operate) & owner think about ownership differently the phrase we've heard from the NBA to EPL to MLP is the same: "one throat to choke" the owners collective want to be able to hold a single individual accountable to make changes to protect the collective
4 replies
0 recast
0 reaction
Commodore
@commodore
"ownership" of any assets is actually 3 things: - access - equity - governance while all 3 are amazing, plenty of market demand exists for remixes of the 3: Airbnb = Capital for access Robinhood = Capital for equity Governance Token = Capital for governance
1 reply
0 recast
0 reaction
Commodore
@commodore
the Ball Hogs are an experiment in Access my fav story is of bayesianballer a KH Jerry who loved analytics, started building scouting reports for the Ball Hogs… now he sits on the bench as an assistant coach 🤯 his scouting reports evolved into rotation analytics then into draft analysis & now a valued member of the club
1 reply
0 recast
0 reaction
Commodore
@commodore
in fact, Brian Scalabrine was even roasting him on the latest broadcast (which hit 4.3m viewers) that he's the "money guy" 😂 point is — here's a random KH contributor who had real talent & no path to a unique pro basketball experience; entirely earned with a collective ownership group
1 reply
0 recast
0 reaction
Commodore
@commodore
fractional ownership CREATES fandom I'm the 1st to admit, I didn't watch the BIG3 before we became owners if I did, it was prob Beasley highlights — but only if the algo served them to me being a fractional owner creates your fandom what clubs that aren't the Cowboys, Yankees, Lakers, ManUtd, don't realize is that if they want to drive the next order of magnitude fans; they'll need to bring fans deeper
1 reply
0 recast
0 reaction
Commodore
@commodore
here's the thing, DAOs are the primordial soup for the next generation of fractional ownership I've been beating my head against a wall for 3 years w/ our lawyers to get a structure that works for owners / leagues / fans it's really fucking hard we need something new to emerge from it that can handle the reality of the tradFi world w/ the upside of DeFi 👨🍳
0 reply
0 recast
0 reaction
