owners bought the League Two team with cash made from the founding of their crypto-sports firm Wagmi United, using them as a test case for multiple blockchain-enabled solutions – including a DAO. The group envisages a plugged-in and digitally engaged audience paying to stream Crawley Town matches from all over the world, because fans feel they have a genuine stake in what’s happening. “Being able to take part in decision-making is absolutely on the table,” co-owner Preston Johnson told The Guardian . “What fans care about is where the actual ability to have governance and have a say is
IT’S UNREGULATED, VOLATILE AND SUBJECT TO MANIPULATION BY PEOPLE WHO OWN LARGE AMOUNTS OF THE ASSET
worthwhile. It gives that NFT some tangible value.” The club plans to offer tokens that will give fans the opportunity to take an active role in squad policy. That could include how much of the wage budget in the transfer window goes towards attack, midfield or defence. Tokens are clearly a
reputation of blockchain technology in the public mind.
FOOL ME THRICE... It’s not hard to find cynics, with fears that the Web3 enterprise is a labyrinthine scheme dreamed up by venture capitalists, in order to scam the unwitting. In fact, the first page under the ‘What is Sorare?’ menu on the NFT producer’s website has the ironically not-reassuring title: “Is Sorare legit or a scam?” “It’s magic beans,” according to football finance expert Kieran Maguire in The Guardian . “So long as it’s sold as a digital Panini card, it’s OK. But when it’s being seen as a form of investment, it’s moving into uncomfortable territory. “It’s unregulated, volatile and subject to manipulation by people who own large amounts of the asset,” he concludes.
way for sports clubs to generate income, and can bind supporters closer to their team with the promise of exclusive community. Extending the offer with DAOs promises to make people more invested. But some fans are openly sceptical, especially given the recent crashes of cryptocurrencies, which have also stained the
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BEYOND THE BUZZ: DELOITTE DISCUSSES NFTS
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