SA Blockchain Start-Up Momint Launches The World’s First Professional DAO Basketball Team
SA Blockchain Start-Up Momint Launches The World’s First Professional DAO Basketball Team. South African Blockchain startup, Momint has announced the launch of the world’s first professional DAO basketball team. Momint has partnered with a community in the United States to launch the world’s first professional basketball team to be owned and managed by its fans.
“Technology has fundamentally changed what is possible, when it comes to the way we run our economies, how we live our lives and is now also able to help us re-think the management of our favourite sport teams and athletes. This will have a compounding impact over the next decade – and with our understanding of how the blockchain operates, the future of sport will certainly be more transparent, democratic and fair” Ahren Posthumus, CEO at Momint said in a statement.
While basketball has historically represented a diverse range of communities and fans, these individuals have never been afforded the opportunity to make decisions that affect the players they support. Momint has found a way to apply blockchain technology towards this particular use-case, and hopes to make the world of sport team ownership more inclusive and diverse with it. As many would correctly assume, launching a professional basketball league is an extremely expensive exercise that takes place within a limited number of pre-established teams that have been around for a long time. These teams are typically owned by a billionaire, or a collection of wealthy individuals. The team is then managed by one central authority, leaving no room for the fans in any decision-making processes that affect the sportsmen they love and support.
Momint will be providing The Basketball League with the blockchain infrastructure it needs to facilitate the creation of a decentralised basketball team. It will also provide the community with a platform through which individuals can vote on buying and trading players, hiring staff, marketing and more.
