Quick take:
- The fan-owned racing team will be launched across Bermuda and the Carribean.
- The new team hopes to participate in Season 4 of SailGP.
- Fans who join the DAO via token purchase will be able to vote on important matters related to the team.
Bernoulli | Locke, a member-based community creating new immersive partnerships and experiences in Web3, today announced that it is launching a fan-owned racing team across Bermuda and the Caribbean for SailGP.
Using a DAO structure and built on the NEAR Protocol, this team is expected to open new opportunities in sports ownership and fan engagement. The newly formed team’s territory combines the Caribbean and Bermuda, giving the team a diverse, culturally vibrant and historic sailing region with sufficient talent and resources to mount a competitive SailGP team.
The new team hopes to be the tenth one in the league and to participate in Season 4 of SailGP. The upcoming season will take place on June 17-18, 2023 and comprise 14 events at iconic destinations around the globe starting with the United States Sail Grand Prix | Chicago at Navy Pier and an event in Bermuda in 2024.
The team will be facilitated by a DAO and eligible fans who are interested in ownership of the team would have to purchase tokens if and when offered by the Decentralized Autonomous Organization. The opportunity to participate is expected to be available to a limited number of individuals and institutions meeting financial and other applicable requirements.
The tokens provide governance rights in the DAO, including the right to vote on important matters related to the team including decisions ranging from the team name and flag, athlete selection, boat livery, fan benefits and access, sponsorship, management, team business decisions and more.
Founded by Larry Ellison and Russell Coutts, SailGP is widely becoming recognised as the most exciting race on water. The global, purpose-led league for professional sailing teams is raced in identical high-performance foiling 50-foot catamarans. The competition pits the world’s best sailing athletes against each other on a global stage.
“Last month we shared that we had updated our SailGP Participation Agreement to allow a DAO owned team to join the league, and now we are very excited to see David Palmer and his team of founders at Bernoulli | Locke forming a team under these amended rules. David and his team have a unique marketing and operational background building global membership-based communities – demonstrating the expertise required to launch and assist in operating a fan-owned team facilitated by a DAO,” said SailGP CEO Russell Coutts.
If launched, the new team would mark an expansion in SailGP’s Web3 footprint. In March, Canada SailGP launched its metaverse headquarters in Decentraland.
Fans can take the first step to getting involved now in this historic new DAO fan-owned team by indicating initial interest at FanVest.io.
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