The top headlines for FOX Business Flash on March 25 are:
Global League co-founded by SailGP, Software tycoon Larry EllisonAt the start of the fourth season in late 2023, you can have a team owned and operated by crypto enthusiasts.
SailGP on Thursday with sailing Cryptocurrency Fans can interact with their favorite teams and athletes in new ways.
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This announcement preceded the SailGP Season 2 Finale. Mamoura Diversified US Sail Grand Prix In San Francisco, Sunday’s $ 1 million winner culminates in a race to win all podiums.
SailGP includes the America’s Cup winner and the Olympic gold medalist racing on a winged 50-foot catamaran that can reach 60 miles per hour while skimming on waves on a hydrofoil. Featuring most of the world’s top sailors. SailGP will expand from 8 teams to 10 teams for the third season.
The agreement with NEAR is expected to bring many benefits to fans, including NFTs, but the highlight is ownership of the sailing team by a community of token holders known as DAOs or Decentralized Autonomous Organizations.
SailGP DAO is different from the structure of a traditional sports team where a single owner or small group calls shots, says SailGP co-founder Russell Coutts and NEAR Foundation CEO Marieke Flament. DAOs may be attended by people from all over the world who vote for everything from the management structure to the captain’s contract period, and can also decide if a woman to fly a boat is needed.
“That’s why this is so exciting,” Coots said in a video interview. “This is a breakthrough technology and a breakthrough initiative. I don’t think it’s been done on this scale so far. Thinking about it, there are only events around the world. Not a particular area. That’s also interesting. “
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New Zealander Coots, who won the America’s Cup five times, said he hopes DAO will attract more than just sailors. “Sports fans, racing fans, businessmen, technicians … I can imagine this is a very diverse group of people and will probably develop each other’s skills,” said Coots. “The whole concept of’Hey, I want to say what’s going on’will appeal to many people there.”
A male kite fly passed the New Zealand team during a SailGP practice session in San Francisco on Tuesday, March 22, 2022. (AP Photo / Eric Risberg) ((AP Photo / Eric Risberg) / AP Newsroom)
Mr. Coots said DAO must be viable enough for SailGP to sell its position as a team operator.
Co-founder of Coots and Ellison Oracle Corp.. , Two-time defending champion Oracle Team USA launched SailGP after being routed to Emirates Team New Zealand at the 2017 America’s Cup. They redesigned the 50-foot catamaran used in that regatta and formed a circuit with regatta around the world every year.
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Olympic gold medalist and former America’s Cup champion Tom’s Ringsby led Team Australia to a first victory and a $ 1 million prize in 2019. Slingsby and Team USA skipper Jimmy Spithill qualified for $ 1 million on Sunday. Winner to decide the season 2 championship with a delayed pandemic-take all race. The final spot will be determined by five free traces this weekend.
From left to right, the Sail GP teams New Zealand, Japan and Australia will pass Alcatraz Island during a practice session in San Francisco on Tuesday, March 22, 2022.The boat is preparing for the SailGP Grand Final Race in San Francisco this weekend ((AP Photo / Eric Risberg) / AP Newsroom)
In Season 2, SailGP uses Oracle Stream Analytics to provide real-time racing indicators that are available to seafarers as well as fans watching on TV and online.
One of the reasons Coots is partnering with NEAR is that it is carbon neutral. This fits the league’s goal of being environmentally responsible.
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“We want to take the lead in technology, including boating, media and interaction with fans,” Coots added. “We want to be modern and leading. We want to see and lead not only what is happening today, but what is happening tomorrow.
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Flament said NEAR was “looking for a partner who wanted to innovate. It’s amazing to see SailGP, the amount of data and innovation, and what’s going on with it. What’s new. It’s open to doing things and trying new things. “
