Krause House DAO aims to buy NBA team, raises US$1.74 million in Ethereum from NFT sales - Aliens: AI Crypto News & Markets Updates

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Krause House DAO aims to buy NBA team, raises US$1.74 million in Ethereum from NFT sales

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Aliens

Tue, Nov 23, 2021

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The DAO Krause House just raised 423 ETH (approximately US$1.74 million) through NFT sales on Mirror. Akin to the DAO bid for a US$43.2 million copy of the US Constitution, Krause House's objective is to acquire something more expensive—an NBA franchise.

Krause House's NFT achieved its initial target of 200 ETH (approximately US$840,000) within only 15 minutes of the sale's release. The current target is 1000 ETH or until their NFT is sold out.

If acquired, franchise rights will allow members to participate in decisions that affect key operating procedures. These include but are not limited to: ticketing, sales, partnerships, and general management.

"I've been following the news around ConstitutionDAO, and it occurred to me there's a high probability a DAO will attempt a bid on a professional sports team within the next 10 years," said Krause House contributor, Adam Soffer, who works at Livepeer. "I tweeted this, and someone responded, 'There's a DAO for that,' and pointed me to Krause House DAO."

Source: Decrypt

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