NFL team Denver Broncos are up for sale with a price tag of around $4 billion. A group of crypto enthusiasts is looking to use a decentralized autonomous organization (DAO) to pull the funds together to purchase the club.
DAOs often work similarly to cooperatives and crowdfunding with all the money in cryptocurrency and decentralized governance structures.
The idea behind “Buy the Broncos” started with a group of attorneys, accountants, software developers, and athletes. The movement has received moral support from the state of Colorado’s governor Jared Polis, a crypto enthusiast himself who is supporting a change for Colorado to accept crypto for tax payments by the end of the Summer.
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