Yesterday competitive sailing league SailGP announced that it has partnered with blockchain development platform NEAR to launch a sports decentralized autonomous organization (DAO) for a new sailing team. The NEAR blockchain foundation becomes one of just five sponsors of the two-year old racing league.
Together with yachtsman Russell Coutts, SailGP was co-founded by Larry Ellison, the co-founder, CTO, and former CEO of software company Oracle. The sailing league is not the billionaire’s only sports investment, he also owns the Indian Wells Masters tennis tournament.
Through votes by DAO community members, potentially fans might determine the new sailing team’s athlete lineup, commercialization options, team strategy, and make other important decisions that would traditionally be made by sports team owners or managers.
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