Thousands of cryptocurrency investors recently La Scelta di Anne Film Completo more than $40 million and nearly — but ultimately fell short of — purchasing a copy of the U.S. Constitution.
Now, a separate group of crypto fans is building momentum with another acquisition target: An NBA franchise.
In both cases, the crypto enthusiasts organized under what's known as a decentralized autonomous organization, or a DAO, which is an online group with a collective bank account and a mission statement.
Calling itself Krause House DAO, a reference to the late Chicago Bulls general manager, Jerry Krause, the group of some 2,000 members I Molti Santi del New Jersey Film Completo the equivalent of $4 million U.S. in the cryptocurrency Ethereum in six days. The crowdfunding, in the form of an NFT sale, ended Thursday morning.
The idea isn't exactly a slam dunk yet.
For one thing, it is no where in the universe of what the group would need to place a credible bid on even the least-valuable NBA team (The Memphis Grizzlies, Ultima Notte a Soho Film Completo to be valued around $1.3 billion).
Second, convincing the NBA to be open to a collectively-controlled crypto investment might not be the easiest sales pitch.
Organizers of Krause House DAO are asking the public to please refrain from laughing.
"We understand the reader's first instinct may be to scoff at this and say owners will never let this happen," Io Sono Babbo Natale Film Completo the group's so-called "flightpaper," a nod to the more traditional white paper research report.
"It's important to understand that there was a time not too long ago where players were at the same place on the totem pole where fans are today," it says. "There's no reason fans can't do the same if organized correctly."
A co-creator of Krause House DAO, speaking to NPR only by his pseudonym on the social network Discord, said the money raised so far will be invested into future projects focused on becoming a serious NBA team bidder one day. The exact plan for all the new cash is light on specifics, however.
Members of the group will vote on where the money should be spent. The ultimate aim is to be able to prove to franchise owners that a DAO can be an effective way to run a professional basketball team.
In its Discord community, organizers sign off from updates about the group with "WAGBAT," which stands for: "We are going to buy a team."
The pandemic ushered in a new generation of crypto investors, but there were few ways to use the newfound riches. Some turned to acquiring NFTs — a kind of limited-edition digital collectible — but now there is a growing push to move on to loftier ideas, like trying Eternals Film Completo the next version of the Internet. This, dubbed Web3, seeks to give collective control of major online sites to the crypto masses. A DAO is part of that utopian dream, only now hoping for collective ownership of things in the real world, like an NBA team.
Investor Michael Lewkowitz, who put the equivalent of $100,000 into Krause House DAO, dismissed questions about whether the effort is just the latest crypto community publicity stunt.
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