The Singapore billionaire duo has an extensive background in sports and blockchain investments.
Former Manchester United legends Gary Neville and Paul Scholes have joined forces to release a unique sports-centric DAO (decentralized autonomous organization) that will enable enthusiasts to invest along with these legends.
The Singapore billionaire duo has an extensive background in sports and blockchain investments, previously having released a comparable product backed by Cristiano Ronaldo.
The sports investment DAO would be known as CO92 DAO, after the legendary 1992 team, and would focus on strategic investments in soccer-related firms and projects. The DAO was founded by the two soccer legends, and also Singapore billionaire Peter Lim and his son Kiat Lim.
“We are currently already reviewing a range of professional football project opportunities, and will announce developments in the months ahead,” Kiat Lim said.
For the father-son pair, this would be their second blockchain sports project. They've already introduced another football venture, ZujuGP, a digital platform backed by Manchester United's Cristiano Ronaldo. The billionaire duo has a keen interest in sports, as indicated by their ownership of two football clubs: Valencia C.F. in Spain and Salford City F.C. in England.
According to Bloomberg, the project's specifics are still to be disclosed officially, but it is supposed to manage a public sale soon. Neville and Scholes would be part of the management team, as would some former teammates, including Nicky Butt and Ryan Giggs. Using DAOs, the football-focused venture intends to bring sports ownership to the masses.
DAOs have grown in popularity in the decentralized sector over the years, however, they are not without their skeptics. The decentralized governance model involves the community and project investors in the ecosystem's crucial decisions. Even though, recently, these DAO projects have come under fire for centralized decision-making.