Larry Ellison's SailGP and NEARprotocol are creating a DAO for sports team ownership. camomileshumba reports.
Global sailing league SailGP – founded by Oracle Chairman Larry Ellison – and the NEAR Protocol are creating a decentralized autonomous organization to enable fans to be owners of sports teams, according to a statement on Thursday.
"We are ushering in a brand-new era of entertainment by combining sports and technology to elevate the fan experience to a level that has never been seen before, and we’re proud to be leading the way alongside a like-minded organization that shares our core values and vision,” said Marieke Flament, CEO of the NEAR Foundation, the non-for profit entity that oversees development on the NEAR blockchain.blockchain-based form of organization or company governed by code, rather than leaders.
The DAO team could join the SailGP lineup as soon as Season 4 in 2023. Members of the DAO will be able to determine athlete selection, team management and team strategy. Also part of the multi-year partnership, Ellison’s sailing league and NEAR's developers will work on integrated technology and R&D initiatives like ticketing, NFTs, app integration and gaming, as well as global Web 3 community development.
"We welcome NEAR to the SailGP family and we are looking forward to them participating in the most exciting racing on-water, featuring the world's best sailors," said Ellison.
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