Crypto Enthusiasts Raising $4 Billion to Buy NFL Team Using Autonomous Organization

Denver Broncos outside linebacker Von Miller (58) against the Las Vegas Raiders during the first half of an NFL football game in Denver, on Oct. 17, 2021. Jack Dempsey/AP Photo

A group of cryptocurrency enthusiasts is aiming to raise $4 billion to buy NFL team the Denver Broncos through a Decentralized Autonomous Organization (DAO), or a group of individuals who act without a leader and rely on crypto technologies to track and validate its inner workings.

DAOs use smart contracts and are built on blockchain technology, functioning as an online cooperative.