Amit Mukherjee pfp
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 pfp
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 pfp
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 pfp
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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Amit Mukherjee pfp
Amit Mukherjee
@amitmukherjee
Agreed that there's no opportunity in big4. But sports is much broader than that. My thesis is that a 10x+ opportunity for a sports team comes from picking the right up and coming league that secures a content rights deal in the future.
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Amit Mukherjee pfp
Amit Mukherjee
@amitmukherjee
DAO "ownership" wouldn't promise equity in the team but agency over some governance decisions. e..g, in the new pickleball league, owners draft new teams seasonally - would be a great use of a DAO voting right
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Amit Mukherjee pfp
Amit Mukherjee
@amitmukherjee
not sure what you mean by sport-to-sport derivatives
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sam carter | 현춘 pfp
sam carter | 현춘
@samhcarter
I was referring to the difference between markets that directly profit from “sports” (autograph signings, ticket sales, etc) & “sports-derivative” markets (gambling, fantasy, collectibles, etc)… (1/2)
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sam carter | 현춘 pfp
sam carter | 현춘
@samhcarter
… In the former, profit comes in time-intensive bursts that are relatively easy to foresee (because they’re usually directly correlated with athletes’ time). In the latter, planning, red tape, and variable returns make correlation between athlete involvement and $$ murky (2/2)
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