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- One of the greatest sports leagues will introduce a DAO for their fans and athletes.
- Decentralized Autonomous Organizations eliminate central entities from the game.
- MakerDAO, DecentralandDAO, ConstitutionDAO and more are among the most famous DAOs on the globe.
Uniting Karate Enthusiasts Around The World
Karate Combat, one of the biggest sports leagues in the world, has announced that they will launch a Decentralized Autonomous Organization (DAO) for fans and athletes. The initiative is done in collaboration with Hedera Hashgraph’s HBAR Foundation in a three year sponsored deal. KARATE, native asset of the organization, will serve as the governance token.
It will allow the fans, athletes and other holders of the tokens to have their say and vote in several decisions regarding budget, rules, regulations, resource allocation and more in the league. After the launch, Karate Combat will become the first sports league to introduce such a concept.
Not just the first sports league, it holds a potential to become one of the biggest DAOs to ever exist in space, given the league’s popularity. Currently, Karate Combat broadcasts in over 100 nations via channels like YouTube, CBS Sports and more.
A Decentralized Autonomous Organization is a group of people or a community in simple words, controlling something together. Unlike central entities such as the government of any nation or social media giants, decisions are based on the majority. People have their say in every aspect of the organization no matter how minor or major the facet is.
There’s an interesting history of DAOs. In November 2021, ConstitutionDAO came up with a mission to purchase the original copy of the US constitution. The group raised $47 Million for the initiative, but lost the bid at Sotheby’s auction. Bloomberg mentioned that this event shows how powerful these organizations can be, taking their influential potential into the account.
MakerDAO being another famous organization regulating the stablecoin DAI through MKR token. DecentralandDAO is a metaverse entity for MANA and LAND holders serving as the city planning committee in the digital realm.
With the rise of cryptocurrencies, the notion of decentralization is becoming contagious. Though it brings some bad actors with it, people love the idea that no central entity can control their activities, offering them a sense of actual freedom.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
