Crypto fanatics are attempting to raise $4 billion to purchase the Denver Broncos
Key takeaways:
- An eclectic mix of crypto fanatics is attempting to raise $4 billion to purchase the Denver Broncos.
- The group, composed of lawyers, accountants, and pro athletes, raises this crypto crowd via a decentralized independent organization, or DAO.
- Unlike a standard pool of investors, DAOs depend on cryptocurrency technology to track and validate participation in the group and reduce the inner workings of growing and distributing large amounts of money.
Crypto raising $4billion to buy Denver Broncos:
The Denver Broncos are up for sale. A set of crypto fans seeks to grow almost $4 billion using a decentralized independent organization, or DAO, to make it their own.
You can think of a DAO as a bunch of people acting in concert with no single head. Unlike a regular pool of investors, DAOs depend on cryptocurrency technology to track and validate participation in the group and reduce the inner workings of growing and distributing large amounts of money.
This group has an eclectic mix of solicitors, accountants, software developers, pro athletes, and mathematicians.
One of the individuals spearheading the reason is Sean O’Brien. He spent over a decade in Cisco’s lawful unit before leaving the corporate world to handle a few small businesses with his wife.
“We know it sounds a bit crazy, but it’s also a bit badass,” stated O’Brien. “The goal is to select an infrastructure so that lovers from all walks of life can be owners of the Denver Broncos.”
According to ESPN, the pro football squad is valued at just under $4 billion, and it is predicted to garner an enormous price tag in North American sports record.