Source: A screenshot, Instagram/broncos
A Decentralized Autonomous Organization ((*4*)) was created with the aim of raising around €4 billion and buying the Denver Broncos franchise of the US National Football League (NFL).
The Broncos went up for sale earlier this month, and administrators said in a statement that they expected the sale to be complete by the start of the 2022 NFL season, which is scheduled to begin on September 8.
“The Broncos are a special franchise that is part of the fabric of this region, and anyone who emerges as a new owner will undoubtedly understand what the team means to our great fans and this community,” said Joe Ellis, president of the Broncos of denver. quoted in the press release.
With that in mind, BuyTheBroncos (*4*) is aiming to raise the funds needed to bid on the franchise, with Sean O'Brien, a former Cisco lawyer and current businessman, among the leaders of the initiative, as reported by CNBC.
"We know it sounds a little crazy, but it's also a little rough," he said. "The goal is basically to establish an infrastructure so that fans from all walks of life can own the Denver Broncos."
While smart contracts and crypto wallets have already been set up, the (*4*) won't officially go live until the first week of March, according to O'Brien.
The initiative's website states that its members who allocate their ethereum (ETH) to the company "will be eligible to acquire an NFT which, if we are successful in purchasing the Broncos, will serve as a 'membership card' giving you access to the cooperative.
At the time of writing (10:00 UTC), the initiative's Twitter account had around 734 followers. The Denver Broncos themselves have 2,6 million followers on Twitter, 1,3 million on Instagram and nearly 3,8 million on Facebook.
Meanwhile, the (*4*) can count on the backing of cryptocurrency friend Colorado Governor Jared Polis, who recently revealed plans to accept cryptocurrency for state tax payments by summer 2022, saying that he would be "delighted" if the initiative's efforts prove successful.
"I would love to be a part of this myself," Polis told CNBC. "The challenge will be that it will require a lot of money... but you know what, if your imagination is big enough then it can happen."