Sports Card DAO

[Dead-Ball-Hitter]

An interesting concept. I'd like to think about this a bit before responding. I'm slightly intrigued...

[skelly423]

Respectfully, that is the last thing I would ever invest in. I understand enough about crypto and blockchain to know it’s a con, and I don’t want any part of it.

[maniac_73]

Originally Posted by skelly423

Respectfully, that is the last thing I would ever invest in. I understand enough about crypto and blockchain to know it’s a con, and I don’t want any part of it.

Lol ok


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[zoomfest]

Originally Posted by skelly423

Respectfully, that is the last thing I would ever invest in. I understand enough about crypto and blockchain to know it’s a con, and I don’t want any part of it.

I'm curious - why "do you know [crypto is] a con"? What's your concern exactly?

[skelly423]

I don't know that a vintage baseball card forum is the place to have that conversation, but if you want to flip over to the Watercooler section, I'll give you an honest answer.

[maniac_73]

Originally Posted by Dead-Ball-Hitter

An interesting concept. I'd like to think about this a bit before responding. I'm slightly intrigued...

I’m still doing my research on it as well. Fractional ownership has always intrigued me but I was never comfortable with the concept of a company having the final say without transparency. What I like about DAO’s is that the community has the authority in what to do with the investment and there’s full transparency with the blockchain records.
Still early days on DAO’s but so many exciting possibility’s with the technology.


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[RL]

easy pass for me

[Leon]

This has to do with the block chain. I am not a crypto person. IF that is what folks want to do, more power to them. Have fun. I like my cards in hand...
.

[x2drich2000]

So without a central entity in charge, who takes physical possession of the asset? Who is responsible for up keep and handling (i.e. insurance, handling sales, organizing owners wishes, proposing when to sell, etc)? Maybe I'm missing something or just don't understand the relationship between the physical and electronic tracking, but seems like it would be an easy way for someone to just disappear with the items.

[maniac_73]

Originally Posted by x2drich2000

So without a central entity in charge, who takes physical possession of the asset? Who is responsible for up keep and handling (i.e. insurance, handling sales, organizing owners wishes, proposing when to sell, etc)? Maybe I'm missing something or just don't understand the relationship between the physical and electronic tracking, but seems like it would be an easy way for someone to just disappear with the items.

The practice would be to propose and vote on this using the community discord based on the proposals made within the group. Everything is put to a vote and all members vote based on the rules set out in the terms of reference. In theory it’s a complete transparent democracy which is what makes it attractive because the owners have the power.


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[Fred]

Originally Posted by x2drich2000

So without a central entity in charge, who takes physical possession of the asset? Who is responsible for up keep and handling (i.e. insurance, handling sales, organizing owners wishes, proposing when to sell, etc)? Maybe I'm missing something or just don't understand the relationship between the physical and electronic tracking, but seems like it would be an easy way for someone to just disappear with the items.

I was wondering the same thing.

How does someone "buy in" to this? Does this require the potential investor to have a source of crypto currency to obtain the shares of the card board block chain? How does someone "cash out"? The assumption would be that the payout would be in some type of crypto currency. If, for example, you paid in Bitcoin to enter, would you get paid back in Bitcoin when you decided to sell or would the seller have to accept any crypto currency currently being traded in the crypto market, for example Dogecoin.

If played correctly, the person that starts this anonymous chain could say they own a card (which is physical) and not really own it. Is that a possibility?

Sounds like a possible card board Ponzi scheme.

Please, by all means, educate me on this - I'm an ignorant naysayer that could use a little more understanding of this potential investment vehicle.

[Yoda]

Originally Posted by Fred

I was wondering the same thing.

How does someone "buy in" to this? Does this require the potential investor to have a source of crypto currency to obtain the shares of the card board block chain? How does someone "cash out"? The assumption would be that the payout would be in some type of crypto currency. If, for example, you paid in Bitcoin to enter, would you get paid back in Bitcoin when you decided to sell or would the seller have to accept any crypto currency currently being traded in the crypto market, for example Dogecoin.

If played correctly, the person that starts this anonymous chain could say they own a card (which is physical) and not really own it. Is that a possibility?

Sounds like a possible card board Ponzi scheme.

Please, by all means, educate me on this - I'm an ignorant naysayer that could use a little more understanding of this potential investment vehicle.

Will there be an open marketplace where buyers and sellers can easily buy and sell their fractional shares? It is too complicated for my simple brain, so I will pass.

[ajjohnsonsoxfan]

Even though the DAO for the constitution didn't pan out (they publicized their top bid allowing for an easy snipe), I think we'll see many more of these in the future. The blockchain has so much potential for diversified investment (including NFT's where artists can monetize works without middlemen). I haven't participated in any Collectable offerings but they have had a bunch of successful deals. As a collector, I too like to have my preciouses in hand so I can gollum over them but can see a place to have a fractional ownership/investment in certain big historical/expensive pieces.

[maniac_73]

Originally Posted by Fred

I was wondering the same thing.

How does someone "buy in" to this? Does this require the potential investor to have a source of crypto currency to obtain the shares of the card board block chain? How does someone "cash out"? The assumption would be that the payout would be in some type of crypto currency. If, for example, you paid in Bitcoin to enter, would you get paid back in Bitcoin when you decided to sell or would the seller have to accept any crypto currency currently being traded in the crypto market, for example Dogecoin.

If played correctly, the person that starts this anonymous chain could say they own a card (which is physical) and not really own it. Is that a possibility?

Sounds like a possible card board Ponzi scheme.

Please, by all means, educate me on this - I'm an ignorant naysayer that could use a little more understanding of this potential investment vehicle.

Good questions!
With a DAO, you "buy in" with the token thats offered which may be in the form of a coin or even an NFT. This gives you voting power 1 token = 1 vote.

There is no "owner" as everyone who owns tokens are considered owners and every proposal is voted on with the results recorded on the smart contract on the blockchain which are transparent and unalterable. The group decides by vote what to buy and when to sell and how the profits would be paid out to coin holders. The group also decides how to procure and where to store the item through proposals and votes. The idea is that proposals are put forward and they are voted on by all the token holders.

To put it simply, this is the exact model Collectible(the fractional ownership platform) is currently using but instead of the owners of Collectible running the show, this is the cooperative effort of all the participants deciding what to do using the transparency of the blockchain.

Some more info on hows DAO's work
https://consensys.net/blog/blockchai...-do-they-work/

[maniac_73]

Originally Posted by Leon

This has to do with the block chain. I am not a crypto person. IF that is what folks want to do, more power to them. Have fun. I like my cards in hand...
.

As a hobbyist, I also like to have cards in hand. As an investor, I’ve seen the returns over time of high end blue chip vintage cards and it’s a great alternative asset to have as part of ur overall investment portfolio.


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