Before the upcoming major NFL event, the U.S National Football League team Denver Broncos is looking for a new buyer. There will be no surprise if the team will get a buyer in the face of DAO.
A group of people formed BuyTheBroncos DAO to acquire Denver Broncos by raising $4 billion in a very short time period. The DAO has also grabbed many news headlines because of one of its organizers Sean O’Brien who is a former Cisco employee.
Brien stated in an interview that “The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos.”
The DAO is quite different from other DAOs as anyone can contribute and acquire stakes no matter what their level of wealth is.
If BuyTheBroncos DAO succeeds in buying the football team then it will enter into the Green Bay Packers among NFL teams owned by the fans.
Members of DAO will get non-fungible tokens (NFTs) in return for their contribution in ETH that “will double as your ‘membership card’ that grants you access to the cooperative.”
At the time of writing, the BuyTheBroncos Twitter account has 630 followers including attorneys, accountants, software developers, professional athletes, and a mathematician.
The current owner of the Team is in a hurry to transfer ownership to a new buyer before the start of the 2022 season. American sports channel ESPN believes that the team will be sold for $4 billion, which will make it the highest-priced for a North American sports team in history.
However, it is not crystal clear that NFL commissioner Roger Goodell will welcome DAO as a new owner of the team.
DAO allows smaller investors to invest in large entities with other small investors. Last year, ConstitutionDAO was formed to buy a physical copy of the U.S constitution, which had raised $47 million from 17,437 contributors. Despite holding $47 million in the hand, the DAO failed to acquire a copy of the constitution.
