This Week in KH Governance - August 29 // Legal Magazine Feature // MyJerry Avatars // In The Lab x NBA Legends + MORE
This Week in KH Governance - August 29 // Legal Magazine Feature // MyJerry Avatars // In The Lab x NBA Legends + MORE
Basketball. Culture. Crypto. Krause House DAO.
The latest updates from Krause House & the intersection of Sports x Crypto:
This Week in KH Governance - August 29
Recent Outcomes
Ready for Voting
Krause House featured in a Legal Magazine
MyJerry Avatars - get yours now
KH Book Club with Legendary NBA Trainer Idan Ravin - Sign Up
Product Team Updates (greg, trik, eli)
Ball Hogs x Krause House Documentary Updates (crabtree)
In The Lab x NBA Legends Historic Live Stream
Recent Sports x Crypto News
🗳️ This Week in KH Governance - August 29
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✅ Recent Outcomes
Contributor Funding Request - Defining Fan Ownership (GladRobot)
99.41% For
0.28% Postpone: Needs Edits
0.31% Against
Next Steps:
Glad will begin defining what Fan Ownership means at Krause House.
Delivering theory, execution steps and presentation materials on the value offer of fan ownership from Krause House to partners (Investors, Team Owners and Leagues)
Assisting early stage discussions with Krause House members around acquisitions
Due diligence on potential acquisitions - Assuring we have sufficient information to make prudent decisions.
Assisting the Capital team led by Lewwwk on capital raises and investments
Look out for:
A public Google Doc with recorded work
Initial drafts shared through Krause House’s Discord member channels
Social Media Consulting and Content Creation
Against 80.85%
For 19.15%
Sentiment: Social media influencer marketing is not a necessity at this time but as new developments & milestones occur at KH, this is a proposal that could be valuable in the future. Thanks for submitting Joy!
Eli Contributor Funding
For 55.78%
Against 44.11%
Next Steps:
Continuing DAO member user interviews, user testing, and developing House OS, a search-first interface to navigate the DAO.
🗳️ Ready for Voting
Vote with your KRAUSE & share your thoughts/feedback in the Krause House Discord #member-chat. Voting closes 3 days after the proposal has been posted. How to vote? Check out Krause House University for an explainer.
[Multiple Choice: Publish on Mirror + Sentiment] Krause House’s Game Plan
This is a poll to get community permission to publish on Mirror & sentiment on Krause House's next phase of strategy. If approved, a follow up proposal with more specific action items will be deployed.
SpringHill Pitch Sprint + Partnership Process Documentation
Pitch SpringHill Entertainment on paths to partnership with KH
Document the partnership pitch process for teams across the DAO.
Note: SpringHill sits at the intersection of media and sports and unites three brands built by LeBron James and Maverick Carter
⚖️ Krause House featured in a Legal Magazine
It’s been a few months since the “Krause House Feature in a Legal Innovation Magazine” proposal but we finally have the feature published and it’s now available in shops and online. Grab a copy here. Shoutout to Bitkorni who had the pleasure of interviewing Commodore for the feature. The Interview with Commodore is mentioned on the cover and we also managed to sneak an easter egg with some MyJerry Avatars on the cover!
🏀 MyJerry Avatars
We now have 20+ Jerry’s rocking the off-chain Avatars. If you’d like one, please tag either Boosh or Mario Lopes on Discord. Be on the look out for the on-chain release where you’ll be able to level up your Avatar with wearables, Jerry Points and some basketball rewards.
📖 KH Book Club with legendary NBA Trainer Idan Ravin
Krause House is hosting a Book Club with NBA Trainer Idan Ravin. Idan has had the opportunity to train an impressive roster of players, including Chris Paul, Carmelo Anthony, Stephen Curry, LeBron James & Kevin Durant.
We’ll be going deep into his book, The Hoops Whisperer: On the Court and Inside the Heads of Basketball's Best Players and will have the opportunity to ask him questions.
The Book Club will consist of KH members, friends of KH, fans & pro ballers.
Note: if you don’t read, audiobook version is fine too.
Fill out this form to be notified for Book Club dates!
Eli has put together a doc with additional project updates. Here’s some highlights:
👷 Product Team (greg, trik, eli)
“We’ve been investing in our project management to ensure we’re prioritizing the highest value work. Projects don’t happen overnight, so anything we can do to ensure our priorities are in order is extraordinarily high leverage. We’ve also been user testing House OS’s search milestone, which we encourage you to try (mobile is still in the works).”
🐗 Ball Hogs x Krause House Documentary (crabtree)
“We wrapped up the BIG3 season in Atlanta on Sunday (Aug 21st), and continued the filming process with more player interviews + Sean Bannon & Jeff Kwatinetz. The rest of the week was spent filming at various farms across Alabama, to give documentary viewers a ‘taste of the South’ and UncleJon’s homelife.
I will quickly move to post-production next week and start breaking down 4+ hours worth of footage.”
🧪 In The Lab x NBA Historic Live Stream
Our friends at In The Lab hosted a historic live stream with NBA Legends battling Streetballers & Youtubers.
The Cage Showdown was hosted at the In The Lab LA gym on August 27 and featured D’Vontay Friga vs Mario Chalmers, Ty Lawson vs Hezi God, Jason “White Chocolate” Williams & Bionic Brooks vs Pe’Shon Howard & Dom Lanier. The event was streamed on Caffeine with over 28k LIVE viewers.
Shoutout to Ball Hogs CEO Uncle Jon who as able to lend an assist and introduce Ty Lawson to In The Lab for the event.
Look out for more groundbreaking events like this in the future.
📰 Recent Sports x Crypto News
👉How Crypto and Esports Are Fueling Each Other’s Growth
From top-dollar sponsorships to NFTs, fan tokens, and tournaments for Web3 games, the industries are increasingly intertwined.
Sponsorships
“Crypto firms want the esports audience—and esports startups need the cash. It’s long been an open secret that esports teams are bleeding cash in the short-term in the hopes of eventually being rewarded as the industry grows and attracts more eyes. Countless teams and leagues have crumbled and faded along the way.”
Throughout 2021-2022, we saw crypto firms FTX, Coinbase, and Uniswap enter sponsorship deals and naming rights agreements with major esports teams, tournaments and leagues.
FTX $210 million sponsorship and naming rights agreement with leading esports club Team SoloMid (TSM)
Coinbase sponsored clubs like Team Liquid, Evil Geniuses, and BIG
Uniswap sponsored Team Secret, a deal that was passed via a DAO vote
Coinbase also signed major tournament operators ESL and BLAST.
Team Vitality added blockchain platform Tezos as its primary sponsor earlier this year
Bitstamp sponsored teams Immortals and Guild. Bitstamp’s three-year Guild sponsorship will cost the crypto firm about $5.5 million, while Immortals terms weren’t disclosed.
“And that’s just the tip of the iceberg for crypto-esports deals, which are putting the names of crypto exchanges and blockchain platforms onto team jerseys and into Twitch streams, Twitter feeds, and widely viewed tournament broadcasts.”
Targeted Audience
The esports audience is much more digitally native than the traditional sports audience. From a crypto firms perspective, sponsoring an esports team or league gives more bang for your buck compared to traditional sports leagues.
“The amount of brand impact has been much bigger from the esports side than it has from the not-esports side—the traditional sports side,” said Sam Bankman-Fried. “It’s a much more targeted thing at a particular audience that we think there’s high overlap with.”
Fan Tokens: An Additional Revenue Stream
Esports teams have launched fan tokens which allows teams to delegate some decisions to their fans and generate revenue. Click here for a deeper look into how esports teams are making money
Other Pain Points & How Crypto Infrastructure can be a Solution
Leagues and teams have shut down amid claims of unpaid players and staff, unfair financial splits, and an overall lack of transparency.
“Community Gaming, a startup that raised $16 million last spring, is developing a tournament platform that taps blockchain tech to provide that transparency on a public ledger, ensuring that competitors are paid efficiently and with lesser fees, that revenue shares are distributed, and allowing tokenized ownership of league franchise slots.”
Creating Web3 platforms and experiences is another potential next step for teams.
Misfits Gaming is a prime example. The organization, which operates franchised teams in League of Legends and Call of Duty, announced plans to launch a new Tezos-based platform called Block Born that will publish NFT games and launch tournaments and content around them. Block Born aims to highlight games that are primed for tournaments.
The Metaverse is transforming how fans watch and experience pro tournaments.
In July, Activision Blizzard’s Call of Duty League and the New York Subliners team partnered with Mountain Dew to host a live esports tournament watch party in Decentraland, the Ethereum-based metaverse game.
Crypto Rewards
“The ever-growing convergence of crypto and esports is now coming full circle. We’ve seen CS:GO modified to provide Bitcoin rewards for players via the Lightning Network, and now NFT game makers are hosting their own tournaments with sizable prize pools on the horizon.”
Fun First with Blockchain Powering It
“We are seeing more Web3 games use esports tournaments as a go-to-market strategy,” Kan told Decrypt. “I think this is a good culture shift as it is putting the games first. Players love fun and competition. To acquire [players], a blockchain game should deliver an excellent game experience, and a good tournament is the best way to achieve it.” “After all,” he added, “games are about having fun!”
Question: Is there an opportunity for Krause House here? Quick ideas include potentially launching Fan Tokens and/or NFT Team Memberships as a service for esports teams to help them generate additional revenue streams while creating value for their biggest fans.
👉What are Dynamic NFTs? The ‘Living’ Tokens That Change Over Time
So how does a dynamic NFT differ from a regular NFT? In simple terms, a dynamic NFT’s metadata can change based on varying conditions. That can include the passage of time, interactions with other NFTs, or—more commonly—external data, including information drawn from sources that monitor real-world data, like weathervanes or real-time sports scores.
In 2021, Playground Studio launched a set of collectible NFTs for LaMelo Ball, the 2021 NBA Rookie of the Year, on NFT platform Galaxis.xyz.
The NFTs would rack up points according to data about his performance sourced from Chainlink Sports Data Feeds. A holder could choose to harvest ‘Silver Moons’ every time the Charlotte Hornets player assisted the netting of a ball, or ‘Blue Neptune’ whenever LaMelo stole the ball from an opponent. If thresholds are met, an NFT avatar could transform.
“In the real world, if you collect baseball cards or art, the only way to expand your collection is to buy more. Living NFTs offer the possibility to have a collection that evolves over time.”
👉Samsung Next exec argues Web3 projects must face the challenge of utility
While Web3 has shown a lot of potential since its inception, some still believe utility is a challenge that players in the space must face, according to a Samsung Next executive.
Biased but Krause House is in a unique position to deliver real-life utility by purchasing & governing teams as a community. We’re also well positioned to build products & services that close the gap between fans and their favorite teams.
Let’s keep building the future of sport.
👉Oxford City Football Club to accept Bitcoin for matchday tickets
The club will wear the BTC logo on their shirts and fans will be able to buy tickets, drinks and food with Bitcoin over the Lightning Network. The club struck a multi-year partnership with CoinCorner, an Isle of Man-based Bitcoin company.
At the club, Justin Merritt, director of football at Oxford City FC, explained: “More than 3.3 million people living in the U.K. now own Bitcoin — an increase of approximately one million people in the last year alone.”
Peter McCormack’s pro-Bitcoin football club, Real Bedford, will also accept Bitcoin for matchday tickets.
👉Dapper Labs Opens NFL Version of NBA Top Shot NFTs to the Public
NFL All Day offers NFTs based on video highlights, similar to Dapper Labs’ own NBA Top Shot.
Kansas City Chiefs quarterback Patrick Mahomes will be the face of NFL All Day, launching after months in beta.
According to Dave Feldman, senior VP of marketing and also a former NFL vice president, NFL All Day attracted nearly 200,000 paying customers to buy an NFT moment during the closed beta period, with “tens of millions of dollars” in sales to date.
Feldman said that the long-term plan for NFL All Day—much as it has been for Top Shot—is to continue to layer in new features, gamified collection challenges, and other utility for holders over time.
👉Ticketmaster scouts productization of enterprise NFTs beyond ticketing
Ticketmaster’s job posting for a product manager of NFT ticketing tooling reveals the company’s intent to roll out NFT-based enterprise products “across all content categories including sports and music.”
A study conducted by Big 4 accounting firm Deloitte in May 2022 highlighted the untapped potential of the crypto ecosystem to open up newer markets for the sports industry:
“We could see fractional ownership of season tickets and suites and a reinvention of the ticket resale process.”
👉Binance jumps into NFT ticketing after UEFA League fiasco
Binance collaborated with Società Sportiva Lazio to launch NFT tickets for all of the sports club’s home matches at Stadio Olimpico.
Binance highlighted that NFT tickets will solve the issue of fake tickets and eliminate scalping, preventing disorder in sporting events.
Apart from access to events, the NFT tickets will also serve other purposes such as store and match discounts, token giveaways and other experiences with S. S. Lazio.
👉How NFTs can boost fan engagement in the sports industry
On average, 76% of avid sports fans worldwide are open to learning more about NFTs, so there is an excellent opportunity for organizations in the sports industry to introduce blockchain-based assets to their consumers.
Digital assets could have a significant effect on how close sports fans are to their favorite teams if they are used correctly. It will be easier for fans to keep up with the teams and athletes they care about the most. Because of this, sports organizations have a chance to use digital assets to their advantage.
However, the focus should be on the engagement of the fans instead of trying to earn a quick buck simply by selling tokens. This will also improve user retention since fans will be using these platforms for their personal enjoyment instead of trying to make money by flipping tokens or digital assets they have bought.
NFTs can change the sports world by bringing offline activities into the online world. In the past, fans collected trading cards, signed T-shirts and footballs and traded printed-out pictures of their favorite players. As the world increasingly becomes digital, younger fans will find new ways to engage with their favorite teams and players through blockchain technology.
👉Fans seek trust and better understanding of sports NFT market: Research
A study released by the National Research Group (NRG) revealed an openness among sports fans to learn about NFTs as they await a greener market.
👉Crypto.com moves forward with multimillion-dollar renovation of Staples Center following staff cuts
👉3 reasons why Chiliz is up 35% this week — And where is CHZ price heading next?
Chiliz developed the Socios.com sports fan engagement platform which is built on the Chiliz blockchain infrastructure & uses $CHZ as it’s exclusive on-platform currency.
On Aug. 22, Chiliz founder Alexandre Dreyfus announced their intention to stop utilizing the Ethereum blockchain to launch their fungible and nonfungible tokens and replace it with its own native chain, CHZ 2.0. "We don't have to rely forever only on ERC20 or ERC721 equivalent," said Dreyfus
👉Boxing champion throws his weight behind NFTs that aim to raise funds for Ukraine
Heavyweight champion Oleksandr Usyk is helping launch a new NFT collection to raise money for Ukraine — and blockchain networks are being urged to get involved.
👉Voyager Bankruptcy Puts US Pro Women’s Soccer Player Payouts at Risk: Report
Players in the US National Women’s Soccer League (NWSL) are reportedly set to miss out on the promised payouts of a deal with crypto broker Voyager Digital after the firm went bankrupt.
Voyager, which halted trading, deposits and withdrawals on July 1, was one of the crypto platforms hit by the liquidations of crypto hedge fund Three Arrows Capital Ltd.
👉Web3 games incorporate features to drive female participation
Web3 games are focusing on community building, aesthetics, customization and representation to attract female users — but is this enough?
Findings note that the current mobile gaming gender split is 51% for women and 49% for men. Regarding aesthetics, a report from The Female Quotient found this to be the most important factor in attracting women to the Web3 space.
👉Instagram Adds Flow Blockchain NFTs, FLOW Token Pumps 44%
Instagram’s NFT initiative now includes more than 100 countries, including collectibles from the Flow blockchain.
👉Invesco Rolls Out New $30 Million Metaverse Fund
The Invesco Metaverse Fund will focus on what the firm calls the “Metaverse Value Chain.”
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