New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- WAGMI United is looking to make a huge splash with their recent announcement that they are purchasing an English Football club using cryptocurrency. It was only a matter of time before NFT collectors and crypto enthusiasts started to make their way over to the sports world. It started when entrepreneur Albert Tylis of New York launched an NFT for Liga MX. Now comes an ownership group called WAGMI United who’s looking to make a huge splash by purchasing an English football league club in the near future by relying on cryptocurrency.
How real is this plan?
With some big names investing, WAGMI United looks to be the biggest threat yet.
The organization looking to make this purchase goes by an acronym that plays off of a crypto saying that many people have heard at some point. "We're all going to make it" is the thought process for crypto investors holding onto their assets and seeing everything progress as it has from 2010 till now.
Headlined by big-time investors like Gary Vaynerchuk and Daryl Morey, the group has the money and the sports know-how to make this work and while they may have taken a playbook from Albert Tylis it’s great for the overall Crypto and sports economy as big names enter the space.
They continue to have advanced negotiations with several clubs in hopes of landing the perfect fit. Other investors include a variety of people including Celine Joshua, The Khalili Brothers, and Bryce Hall. The investors will do a lot of the heavy lifting, but the fans must show up as well to make it fully function at a high level.
Crypto's History in Sports
WAGMI United wants a crypto-centric approach to operating the team, which would make it one of the most unique in all sports. This differs from Albert Tylis 1% NFT sale earlier this year. With this new management approach and with the way cryptocurrency entities work, some have this thought that the potential football team being run by club token holders voting for starting lineups each week could dictate votes that set lineups and other extremely exciting changes. However, for this to be successful, the ownership group will rely heavily on analytics instead.
This is where Morey comes in as a key investor for the team. He's known as one of the smartest minds in the NBA right now, and his approach to making final decisions is removed from emotion. Crunching the numbers tells the story in his opinion, for better or worse.
Why Sports Franchises Are Leaning on NFTs
Many people, including Vaynerchuk, believe that NFTs have a ton of ways to benefit sports franchises. They can bring together strong communities, show off creativity, and tell a great story.
For the investors, they are looking at WAGMI United as being incredibly strong in the community. By building a passionate fanbase in a Web3 sort of way, it builds a new supporter base.
Some people are pointing at the similarities between WAGMI United, and teams like the Green Bay Packers and FC Barcelona. While they claim to be all about the community, they've lost a lot of connection through the years. The community doesn't have any say compared to the billionaires running the clubs and DeFi can fix this.
Rumors are swirling around clubs that are at least a few tiers below the English Premier league that most of the world is familiar with. Obviously, the goal for every single club owner is to be one of those 20 teams to make that type of revenue, but just how realistic is it with a cryptocurrency leadership?
A lot depends on just how strong cryptocurrency is in a few years. It takes money to stay competitive at the highest levels. If cryptocurrency proves successful, there will be opportunities to land top-tier players and compete with any club in the world. If it stalls, the team is likely to stay in a middle division. Coaching and analytics can only make up for so much lack of talent.
For now, starting out in the English minor leagues is a good enough place to start. The format is set up for the best teams to get the chance to move up after each season. That means theoretically, in a few years, WAGMI United could be playing with the big boys.
Like anything pushing the boundaries in the world, no one knows for sure if this is just a start of a bigger trend or not but when genius like Daryl Morey, Gary Vee, or Albert Tylis are behind something you should pay attention.
Those who are firmly for cryptocurrency believe that there's a lot of future investing in sports this way that will be a tremendous change from the norm. Others might be skeptical that the stability isn't there with cryptocurrency, and therefore, the sports team could have its ebbs and flows that ultimately keeps them from their goals.
There's already been talk about cryptocurrency playing some type of role in several sports clubs in different countries, adding to the legitimacy overall. It's safe to say that right now, it's looking more and more like cryptocurrency is a major player to look out for going forward.
Look for more official information in the near future from WAGMI United. They have their eyes set on pushing forward and getting a deal done that will make a splash in sports, particularly with the names behind it. Will it work? It's impossible to predict, but at least the world will now see if this type of approach actually has any sort of staying power.
