Crypto chills. Sports DAO. Travel embraces Web3 🎨
Crypto winter still around? BTC ⬇️ $27K. ET ⬇️ $1.8K. Future of being a fan in the times of Sports DAO. Travel industry embraces Web3. US banks still not out of woods. Twitter gets a new CEO.
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Crypto is back feeling the chills. Winter ain't going anywhere.
So let's digress. Let's talk about sports.
Sports DAOs anyone?
The future of being a fan: We may soon have the power to vote on everything from which players get subbed out to whether our team should go for the gold.
How? Blockchain and a little thing called DAOs.
🤖 What's A DAO, You Ask?
DAOs are internet-native businesses that operate without a central leader. Think of them like a community-owned, collectively managed platform that allows everyone to have a voice in decision-making.
Funding: crowdfunding that issues tokens.
Operations: transparent and global.
But what does all this have to do with sports? Well, imagine a world where you, as a fan, can actually own a small piece of your favourite team and have a voice in decisions like whether to sub out a struggling player or whether to go for the gold when the game is down to the wire.
Greater sense of team ownership.
Democratisation of the fanbase.
Influence team decision.
That's the dream of Sports DAOs like BuytheBroncos, which is gunning to own the Denver Broncos.
But will teams see it as a threat? Well, fear not, Its a win-win. It opens a world of possibilities in terms of revenue streams and fan engagement.
Some organisations are already seeing the benefit of involving their fans more deeply. Socios, for example, is using sports tokens to allow fans to own a share of the team and influence team decisions. They've already partnered with popular teams like FC Barcelona, PSG, and the UFC💰
Esports leading the charge?
e-Sports players are forming clans that compete in tournaments worldwide, and with the help of DAOs, they're raising funds to support their team.
MetaClan was one of the first crypto-native DAOs focused on play-to-earn games 🎮
Some say, this is just the beginning. Never mind the winter.
TTD Travel 🧳
Travel industry pushes forward with Web3
The travel and tourism industry’s contribution to the global gross domestic product was around $5.8 Billion that year (2021 report).
Johannes Walter, the head of channel partners at Lufthansa Group.
Decentralisation and tokenisation will create opportunities for new business models and relationships. From building more direct, strategic partnerships and improving transparency to creating new revenue streams and enhancing the customer experience. We aim to deeply understand the space to create long-term value for our customers and partners that aligns with our brand strategy.
Jens Bischof, the CEO and chief customer officer of Eurowings.
“Web3 offers Eurowings a way to meet these demands cost-efficiently and with maximum security. Nevertheless, as big players worldwide are adopting Web3 technology and European institutions are at the forefront of crypto regulation [MiCA], we are looking into a promising future of driving our [industry] forward.”
Web3 ways to integrate with the travel industry.
Metaverse for experience before taking a trip to a given destination to offer via virtual experiences.
NFTickets to allow revenue increases for airlines via secondary market resales.
TTD Blockquote 🔊
Jamie Dimon, JPMorgan Chase Chair and CEO
“It's going to get worse for banks”
The CEO of JPMorgan Chase believes that there could be more pain ahead for United States banks if the Federal Reserve goes into crisis mode with overregulation.
The first quarter of 2023 saw three major U.S. banks collapsed — Signature Bank, Silicon Valley Bank and First Republic Bank.
JP Morgan took over failed First Republic Bank.
In a Bloomberg television interview on May 11 Dimon has warned that overregulation is going to get worse for banks. While some regulation was necessary, too much could be harmful to the economy. He also criticised the lack of coordination between regulators, saying that it led to overlapping rules and unnecessary complexity. Dimon has been a vocal critic of regulation in the past, and has previously called for a more streamlined approach to regulation that would reduce the burden on banks.
TTD Twitter 🐦
Twitter has got a new boss.
Blows up a meme fest 💃 🕺🏿
TTD Numbers 🔢
Addresses now hold more than 1 BTC ($26,800), according to Glassnode.
How? The number of addresses with full BTC status picked up at the end of February last year.
#FYI: One bitcoin address doesn’t always represent one person, so this doesn’t necessarily mean one million people own 1 BTC. Certain individuals control multiple bitcoin addresses, while some addresses may belong to institutions or groups of people.
TTD Surfer 🏄
Do Kwon, the former CEO and co-founder of cryptocurrency company Terraform Labs, and his business partner have been released on $436k bail in Montenegro, a court in Podgorica announced on May 12.
Binance to shut down its Canadian operations following new guidelines from the Canadian Securities Administrators (CSA) that restrict stablecoin sales.
Florida Governor Ron DeSantis has signed a bill on May 12 to ban the use of Central Bank Digital Currency [CBDC] in the state.
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The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.