Yahoo Finanza Manchester United 1992 Squad Inspired DAO To Be Formed by Ex-Players
Manchester United‘s former players including big names like Gary Neville and Paul Scholes have reportedly teamed up with Singapore’s business magnate Peter Lim and his son Kiat Lim to form an organization that will enable football fans to invest in sports-related opportunities.
The ManU DAO
The decentralized autonomous organization or DAO named CO92 has been named after the Manchester United’s squad of 1992 as reported by Bloomberg. Through the DAO the Premier League football club will be looking into strategic partnerships with all football-associated entities.
The DAO will be acting as an entity with a distributed governance model to bring together participants with a unique goal. In the case of the CO92 DAO, the goal is to connect sports enthusiasts across the world.
Kiat Lim, a partner in the DAO stated in an e-mail to Bloomberg,
“We are currently already reviewing a range of professional football project opportunities, and will announce developments in the months ahead. Access to this industry does not come easy or cheap, we are bringing many cumulative years of experience and personal high-level networks into this project to try to make it as big a success as it can be. (sic)”
While no specific amount of money that will be invested in the DAO has been revealed, Kiat Lim did confirm that there will be a public token sale in the future. Additionally, the sale will not need any fixed minimum amount from a potential investor and more details would be revealed in time.
Other Manchester United Legends who are a part of this DAO include Nicky Butt, Phil Neville, and Ryan Giggs.
A New Arena
Sports and crypto partnerships are a growing field and with every passing day more and more entities are becoming a part of it. Just recently Bundesliga league football club TSG Hoffenheim partnered with Dogecoin-inspired Baby Doge Coin to announce their NFT partnership.
Manchester United itself not too long ago ended their 8-year long sponsorship contract with American insurance company Aon and instead made a deal with Tezos valued at $27 million per year.
Furthermore,Lebron James Family Foundation has recently partnered with Crypto.com to educate children about blockchain technology, Metaverse, and everything related to crypto.
This article was originally posted on FX Empire
