Opens the first fan-owned SailGP Team DAO to investors

The first fan-owned SailGP racing team has opened its doors to investors.

Founded by Bernoulli | Luke, the new SailGP team will be run as a decentralized autonomous organization (DAO) about the NEAR protocol where token holders have the right to vote on important decisions related to team operations.

These decisions include everything from team name, flag, and boating to selecting sponsors and athletes—and many more teamwork decisions.

The new DAO team is now open to 1,950 accredited investors at: www.FanOwnedSailGPTeam.com; from one to 40 stock tokens that can be purchased for $5,000 each on the site; Stock tokens provide commensurate governance and voting opportunities. Soon, as well, FanPass NFTs NFT It will become available and will provide access to the new team community and governance, but not fairness.

The DAO-owned team aims to become the tenth team in the SailGP League. It will debut in Season 4 of the competition, starting in June 2023 with the US Sail Grand Prix | Chicago in Navy Pier and continues around the world.

Sailing into the future

Founded by renowned sailor Russell Coates and Oracle co-founder Larry Ellison, SailGP pits international professional sailing teams against each other in an identical F50 catamaran capable of speeds of up to 50 knots (60 mph/100 km/h).

In March 2022, SailGP entered into a multi-year partnership with Near Protocol, paving the way for the launch of the fan-owned team. The launch of the DAO “breaks down the hierarchy of sports” by democratizing access, said Marie Flament, executive director of the Near Foundation. She added that it “creates a blueprint for building a successful use case for Web3”.

Don’t try, DAO

The new fan-owned professional racing team is based in Bermuda and the Caribbean and was built using Near Protocol’s modified DAO architecture, smart contract The blockchain is designed as a next-generation platform for decentralized applications (dabs).

Calling the fan-owned team, SailGP CEO and Co-Founder Russell Coates said: “Professional sport is about building a passionate fan base, and as a global league for technological advancement, they have turned to Web3 to develop the future of the fans’ ‘ultimate loyalty program application’, leaving control to the team. “For an enthusiastic community of fans.”

Our goal is to have a vibrant community of owners and fans who together share the journey of building and operating a world-class racing team. According to Bernoulli | Founder of Luke David Palmer.

Once the new team reaches total funding of $35 million, the bid will close.

To learn more about the first fan-owned SailGP racing team and to catch up on this historic change in professional sport, click here. here.

sponsored post Bernoulli | lok

This sponsored article was created by Decrypt Studio. Learn more about partnering with Decrypt Studio.

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