Entrepreneur S’pore launches Kiat Lim, the world’s first football DAO – Wired PR Lifestyle Story

Local entrepreneur Kiat Lim has launched the world’s first professional football DAO to encourage football fans to take part in the sport.

CO92 DAO, sponsored by Kiat’s father, Peter Lim, a millionaire Singaporeanand former Manchester United players such as Gary Neville, Ryan Giggs, Nicky Butt and Paul Scholes, who are dubbed the “class legends” of the 1992 Class.

DAO refers to a decentralized autonomous organization, and is essentially a distributed governance model that connects people with shared passions, values, and beliefs.

In fact, the goal of CO92 DAO is to unite sports enthusiasts around the world with their passion for sport, through the ownership of tokens to help them make decisions for projects approved by CO92 DAO.

Basically, it allows football fans to invest in sports-related options. Traditionally, participation in the field of professional sports has been limited to closed value investors in closed circles.

A DAO bridges that gap by providing “cheaper and more inclusive access” to its token owners and offering tangible benefits that are not normally available to most fans.

“The goal of CO92 DAO is to make the ownership of football fans available to everyone. We have access to unique sports projects and we want to work with fans to create value together,” Nevill said.

DAO will focus on strategic projects with entities related to football to create value, drawing on the experience and access to sports projects owned by 92 Class and Peter Lim, a sports fan who owns Valencia CF.

Some of these projects could be high-growth football clubs, as well as football-related technologies and ventures.

Reversing the concept of ownership of football clubs

CO92 is the only football DAO professional rooted in the passion, vision and knowledge of the former founders of Manchester United.

“Class 92 has a unique perspective on the world of professional football on the one hand, and a strong passion for the fans on the other. This means we are always selecting the best projects, and the community and the fans are doing well,” said founder Kiat Lim.

The 28-year-old entrepreneur has been deeply involved in Web 3.0. He created a ZujuGP to transform football consumption, followed by ARC, a social media platform, as proof of affiliation using non-fungal tokens (NFTs).

With CO92 DAO, it aims to revolutionize the concept of football club ownership.

“This is not a fan token. With CO92 DAO, the DAO structure democratizes the ownership of professional sports and breaks down the usual barriers to provide more opportunities for participation, ”he explained.

“Building on the principles of property economics and leveraging Web 3 technology, we are creating a more inclusive and engaging environment for decision-makers to participate, participate in the entire gaming ecosystem, and share all aspects of success together.”

In addition, the CO92 DAO management team is comprised of Gabriel Yang, head of the technology, football, and cryptocurrency exchange, and Sherwin Lee and Darius Sit founder Sherwin Lee and Darius Sit, a blockchain and crypto consultant. QCP Capital.

Although it is still early days, CO92 DAO has said it is already reviewing a range of professional football project options and will announce DAO developments in the coming months.

In general, it seems that sports and cryptographic partnerships are becoming more common. Recently, Bundesliga League TSG Hoffenheim football club teamed up with Dogecoin-inspired Baby Doge Coin to announce their NFT partnership.

In addition, the Lebron James Family Foundation has partnered with Crypto.com to educate children about blockchain technology, Metavers, and everything related to cryptography.

Cryptocurrency companies are also fast becoming some of the biggest advertisers and sponsors of sports. According to A media reportthe crypto sector is expected to spend more than $ 160 million in sports sponsorships in 2022.

CO92 DAO aims to connect football fans worldwide, with the aim of truly revolutionizing the experience of the fans so that they can participate and influence the decisions of the clubs from a distance.

The possibilities for what it can do for the sport are endless, and we can’t wait to see what it has in store for us as we move towards Web 3.0.

Featured Image Credit: CO92 DAO / Alex Livesey via Getty Images