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Commodore

@commodore

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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 👨‍🍳
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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
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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
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@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
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@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
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@commodore
why does this all matter? fan ownership isn't a crazy idea but it is complicated every fan wants to be special but special how? is it luck? is it meritocratic? is it by spend?
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@commodore
not widely known, but the EPL allows for up to 10% of the club to be owned by just about any structure the majority owner would like but owners have a cautious relationship w/ their fans, their tolerated when the club wins & vilified when they're losing most fans want them to dump capital to win, but each owner has different "1b" goals with the club
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@commodore
the @bostonceltics (obligatory F Boston) went public in '86 only to go private again in '02 fun fact: they opened at $18.50 & closed at $27 there were mixed feelings about the approach. there we gimmicks like a "Boston Celtics Owner Barbershop" that didn't go over well w/ the majority owners more details: https://www.barrons.com/articles/SB1045870898333098143
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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
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@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
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@commodore
a DAO owned pro sports club; what could go wrong? a case study thread 🧵 the conclusion will surprise you
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@commodore
Just spun up a /big3 channel for talking hoops & Ball Hogs
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@commodore
BIG3 did 4.3m views on X this weekend 👀
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@commodore
y'all are going to miss Frank Nitty
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@commodore
love this list, does feel like "next version" though rather than "next gen"
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@commodore
you're thinking about this at a layer of context lower
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@commodore
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this is truly GOATED 2 $BLEAT
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@commodore
1 $BLEAT
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@commodore
unbearable fans
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