Entrepreneur Kiat Lim has founded the world’s first football DAO with the aim of making football fan ownership accessible to everyone.
The professional football decentralised autonomous organisation (DAO) CO92 DAO is backed by Lim’s billionaire father Peter Lim, as well as a number of football legends including Manchester United’s Gary Neville.
The 28 year old entrepreneur has previously collaborated with Elroy Cheo, the son of Singaporean billionaire and Chairman of oil business Mewah International, to form ARC, a social networking platform for NFTs.
CO92 DAO will connect sports enthusiasts around the globe, and is named after the Manchester United squad of 1992. The platform will allow participants to make investments along with footballers and in collaboration with football related groups and entities.
“We are currently already reviewing a range of professional football project opportunities, and will announce developments in the months ahead,” Kiat noted in a statement.
He added:
“Access to this industry does not come easy or cheap, we are bringing many cumulative years of experience and personal high-level networks into this project to try to make it as big a success as it can be.”
Gary Neville also commented on the new venture, noting:
“The purpose of CO92 DAO is to make football fan ownership accessible to everyone. We have access to unique sporting projects and want to work together with fans to create value together,”
CO92 DAO is the second football related venture by Lim. In October, Kiat and his father created ZujuGP, a football-themed web community backed by Manchester United’s Cristiano Ronaldo. Kiat Lim’s interest in blockchain also extends to the metaverse with his members only NFT platform ARC, another example of how elite investors are taking an interest in the still nascent industry.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
