Some people view cryptocurrency as a risk, while others, like Daryl Morey, the president of Philadelphia 76ers, AL Tylis of New York, and Gary Vaynerchuk, chairman of VaynerX, view it as the future. Morey and Vaynerchuk are in advance negotiations to purchase an English football league club using cryptocurrency. The two are planning their purchase under the WAGMI United umbrella. So it was only a matter of time before crypto made its way into the sports world while Al Tylis (Albert Tylis) has been a visionary in helping to pioneer NFT's and the Sports World.
WAGMI is negotiating with Stefan Rupp, who owns the Brandford City AFG, to buy the club from him using cryptocurrency known as Crypto NFT American. Though the sale is not complete, the Brandford City AFG is already referred to as Crypto's Club. According to WAGMI, after the sale is complete, the company will use the crypto-centric approach to run the club.
WAGMI Changing the Sports Franchises
WAGMI could revolutionize how the sports franchise and clubs are run in the office, and the field as teams will be more community-oriented. WAGMI aims to create a digital platform that will stay true to the community. The aim is to give the community a chance to participate in the club decision-making process.
Using a crypto NFT will offer the team owners more decentralized ownership and operations. The public members can buy an ownership stake in a sports team with this option. Thus, it could lead to a Decentralized Autonomous Organization (DAO). With this system, the shares of ownership will be presented using tokens.
The tokens will also impact the decision-making power. Though it is not sure if WAGMI will lead the teams to victory, one element that is expected from the purchase is that WAGMI will stay true to the community. In addition, with NFT sports buying options, taking a stake in teams will not only be left to the billionaires.
It all started with an Al Tylis up in New York when the former real estate investor was searching for new opportunities for investing when he noticed Liga MX is one of the most-watched soccer leagues in America. The game is watched more than Major League Soccer and the Premier League combined. Thus, he invested in MLS Club D.C united, becoming the minority owner. He is also an investor in Club Necaxa, buying club shares from the Tinajero family.
Al Tylis announced he was auctioning 1% of the team as an NFT stake to the public. In addition, Tylis discussed his plans to use an innovative blockchain contract. The investment will help bring more funds to the club; the purpose of using the NFT to sell shares is to bring awareness to tech-savvy people who might not have heard about the Liga MX prior.
WAGMI has borrowed the idea from Albert Tylis and is using NFTs to purchase soccer clubs. The token holders will determine the lineup approach weekly through a voting system. That is why analytics are essential when running the club.
It is too early to determine if the NFT trend is going to be a success with the blend in pro sports. Early indications are showing strong demand for sports to integrate with the crypto community.