CHICAGO, May 16, 2022 /PRNewswire/ — MGoDAO, a group of University of Michigan fans and alumni focused on enhancing the experience of Michigan student athletes, has partnered with Draftly to form the first ever college sports DAO for fans, by fans. MGoDAO and Draftly are focused on uniting college fans and athletes utilizing Web3 technology. The goal is to create more than just another NIL collective, but rather a community and engagement platform to optimize the benefits for student athletes and fans of Michigan athletics.
DAOs, or Decentralized Autonomous Organizations, are a novel way to share resources, govern communities, and work together towards common goals. In this specific case, the goal is to directly support student athletes and the overall University of Michigan athletics program. Instead of top-down hierarchical structures (NCAA, Conference Commissions, and wealthy boosters), DAOs embrace a decentralized, community-driven approach to solving issues. DAOs work best when there is a pre-existing, engaged community that might be experiencing coordination and collaboration issues. Unlike many crypto projects that create communities through their NFT drops, college sports communities already exist and are some of the most vibrant and passionate communities in the world.
The MGoDAO Community will launch in early June with the sale of its Season 1 NFT Pass. The NFTs will be available for purchase via the Draftly Marketplace using credit card, debit card, and other traditional payment methods.
Season 1 Pass Benefits Include:
- Membership in an exclusive community of like-minded Michigan Fans
- Support Michigan Student Athletes through a variety of means (not exclusively financial)
- Exclusive virtual and in-person events and experiences
- Acquiring voting rights to decide the direction of the community and allocation of resources
- Participation in first-of-its-kind college sports DAO
On July 1, 2021, the NCAA instituted its interim policy on NIL allowing student athletes, for the first time, to profit off their Name, Image and Likeness. Since then, many NIL collectives have formed with the goal of supporting student athletes at a specific university. These collectives mostly consist of prominent boosters using their power and influence to shape a collective’s direction. MGoDAO will be one of the first collectives to be funded and run by fans, where everyone involved in the collective will have a say in how it is run and where funds are directed.
"We founded MGoDAO with the goal of creating a community-operated, fully transparent NIL collective at the University of Michigan. Michigan should have the best NIL program in the country, and we believe this is an amazing opportunity for fans and athletes to create the change we want to see." –Reece Kurdyla
MGoDAO aims to be more than just another NIL collective and will focus on building a community of Michigan supporters through virtual and in-person events. To help build this community and support the collective in all endeavors MGoDAO is partnering with Draftly, a leader in Web3 Sports Integration to make the project a success. MGoDAO and Draftly will also partner with NOCAP Sports to ensure funds raised will be distributed to student athletes.
Anyone interested in learning more about MGoDAO, the launch of its collective and connecting with fellow Michigan fans should join the MGo Discord or go to the MGoDAO website. Anyone interested in learning more about NFTs or Draftly can visit the Draftly Discord today or join the Draftly Newsletter. Discord is a free online voice, video, and chat messaging platform used by millions of people around the globe to connect digitally.
Founded by a group of Michigan alumni and fans, MGoDAO plans to enhance Michigan’s NIL program by catering directly to the needs of athletes while changing the way fans experience college athletics. MGoDAO believes college sports fans cannot affect change individually, but by banding together they can meaningfully contribute to the on-field and on-court success of their teams. This is a decades-old problem that can now be solved with the use of web3 technology.
ABOUT DRAFTLY, INC.
Draftly is a college sports web3 platform focused on the brand-new NIL (Name, Image, Likeness) market and aims to bridge the gap between college athletes and fans. Unlike other NFT platforms, Draftly uses NFTs as a community-creation tool instead of simply a collectible asset. NFTs are the financial vehicle for fans to directly support their favorite teams, athletes, or causes and join a broader community of like-minded individuals. Ultimately, fans will be able to use their NFTs to vote on how NIL funds are allocated to athletes or initiatives in a DAO (Decentralized Autonomous Organization) structure.
For more information about MGoDAO, Draftly, NFTs and how they work or NFTs within the NIL space please reach out directly via the links below.
ABOUT NOCAP SPORTS
NOCAP Sports, founded in late 2020, is one of the leading platforms helping athletes monetize their name, image and likeness (NIL). It is a digital marketplace that allows athletes and businesses to connect and conduct automated, compliant, and transparent NIL related transactions from start to finish with full oversight from independent third parties.
Reece Kurdyla, Founder
Matt Reinhart, Head of Partnerships
Vic DeNardi, Head of NIL and Education