Amit Mukherjee
@amitmukherjee
I'm starting to dig into sports x web3 as a potential investing thesis. Rationale: (1) Dapper + Sorare two of the most successful web3 projects (2) legalization of NIL and gambling create new market forces that web3 may creatively solve (3) team ownership a real use case for DAOs with interesting ripple effects
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sam carter | 현춘
@samhcarter
As someone who’s spent years in the sports space, many have tried so far & none have succeeded in a sustainable way yet, imo. - Huge opportunities with many traps. The big players are coming, quickly and decisively (Amazon, Fanatics, et al), so best act fast.
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sam carter | 현춘
@samhcarter
True decentralized ownership in Big 4 American sports is likely a no-go, too. There are billionaires who’ve been waiting years for the /chance/ to own an NFL team. (NFL is most difficult to break into, but I can’t see an NBA or MLB team being truly publicly owned, either) (1/2)
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sam carter | 현춘
@samhcarter
A lot of the magic in these leagues (player movement, rumor starting/suppressing, ownership and front office moves) happens behind the scenes, and it’s not stuff that a decentralized group could ever be privy to. Q: So how is DAO owned any different than buying debt/equity? (2/2)
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sam carter | 현춘
@samhcarter
The biggest hurdle people attempting to bridge the sports-to-sports-derivatives gap struggle with is how different the schedules/priorities/incentives beyond money are between the industries. Athletes are busier than people think & are efficient at getting things as individuals
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sam carter | 현춘
@samhcarter
… which doesn’t necessarily translate to business. And the slow cadence and unpredictability of institutional $-backed businesses are hard to plan around, often preclusively so, for an athlete with a busy, highly seasonal schedule and extremely short earnings window.
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