Introducing FootyDAO - Crypto's Buying a Football Team
We're forming a DAO, buying a football team, democratising fan governance, and aiming for the Champions League.
Origins
Earlier this year, two events struck me as signals of what a new future might look like.
First, there was r/WallStreetBets, which rallied millions of individual investors to partake in a coordinated campaign of decentralised capital allocation to short squeeze hedge funds on GameStop. Iconic funds lost billions, whilst many retail investors, who were early to the party, became newly minted millionaires.
Next, there was the 'European Super League' fiasco. The owners of football's 15 most prestigious football clubs decided they were going to break away from their traditional leagues and form their own exclusive 'super league'. This break away was suddenly sprung upon fans, JP Morgan announced that they were backing the move to the tune of $6 billion, and they had plans for changes in broadcasting revenue allocation, increased internationalisation, and removing football league staples, such as: relegations, promotions, and connections to local sports ecosystems.
The fan response to the super league announcement was protest. Politicians pandered by floating the idea of regulation and forming committees to 'investigate' the move. Pundits and players alike said they hated the idea. After much reluctance, the executives and owners of these teams shut the idea down. Within a weak, the vaunted 'European Super League' was dead. At that point, fans celebrated as they were responsible for that outcome.
Both of these stories exist at the intersection of democratised financial markets, the power of bottoms-up coordination, and the excitement that being involved in such a journey creates for all participants.
In that vein, I'd like to invite you to join me on a similar journey.
The Big Idea
FootyDAO is a group that is on a mission to buy a football team, convert it into a crypto-native, fan-governed DAO, and take that team from the Championship to the Champions League.
Imagine that? A crypto-backed-collective which takes a team to the highest level of footballing. It’s r/WallStreetBets meets Moneyball, hosted by Ethereum. It’s a story that would go down in sporting history. I want you to join me in making that story real.
The design space for a crypto-native football team is immense: tokenised contracts, NFT tickets, loyal fan airdrops, and, my favourite: building a decentralised front-office, with bounties for scouting, data driven transfer market recommendations, and more.
The case for future token holders is incredibly exciting as well: If we get to the Premier League, the team’s revenues increase significantly. The marketplace for Football x Crypto partnerships is continuing to grow. Governance can be gamified, such that it feels like Fantasy Football - and all of that is just scratching the surface in terms of future tokenomics.
Join the Journey
If this vision excites you, FootyDAO is looking for its first cohort of collaborators who want to bring this mission to life.
We’re recruiting curious, capable, and motivated folks to join our initial working groups. This ranges from working on FootyDAO’s protocol design and tokenomics, to building out our acquisition and underwriting processes, to community development, content, and marketing.
You can get started and find out how to contribute (and be compensated) with four easy steps:
Join the Discord and say Hi!
Follow @FootyDAO on Twitter to keep up with the lastest.
Fill in this form to be a part of our talent/capital network.
I’ll get in touch soon after, to help see where you can fit.
I can’t wait to see what we end up doing together.
(Special thanks to early members, sparring partners, and friends: Zack, Christian, Niraj, Ra’em, Namra, Jihad, Dheeraj, Kristof, various folks in Krause House, whom we consider a spiritual cousin, and many more).
As a final, visual reminder, here’s what FootyDAO is aiming for: