The Krause House wants to NFT its way to owning a pro basketball team
The Future. A decentralized autonomous organization (DAO) named The Krause House has ambitions to acquire an NBA team by selling tokens to the community. While the plan may seem far-fetched, the NBA is the first professional sports organization to embrace crypto (and find success doing it)… and it may only be a matter of time until the teams themselves are up for sale on the blockchain.
Welcome to the evolution of fantasy sports.
- A DAO named The Krause House wants to buy an NBA team using crypto raised through the sell-off of community tokens (which will be available starting Friday).
- If purchased, the NBA team (which would probably cost billions) would be collectively run by The Krause’s House’s 1,200 members.
- The membership possibly includes former NBA players and current NBA agents.
- They would have a say in every aspect of the team, including hiring decisions and uniform designs.
The founder of The Krause House, Flex Chapman, said the plan is “the purest form of win-win that a league like the NBA can have, which has so much power and has done all the right things. This is that way to level up where people can actually participate in the league that they loved for decades.”