Yuvraj Singh, the legendary cricketer, stated earlier this month that he would be launching his Non-Fungible Tokens (NFT) with Colexion.
The NFT is a replica of the bat Yuvraj use to hit his first century.
Now, a Decentralized Autonomous Organization (DAO) has been founded in collaboration with Polygon Studios to bid on his NFT drop. YuviDAO is its name.
“This one’s for all the die-hard cricket fans – @YUVSTRONG12, welcome to the #Polygon ecosystem! 🏏”
https://t.co/aWFlXljNWJ — Polygon | $MATIC (@0xPolygon) December 24, 2021
If the community wins the bid, it will decide on the NFT’s future together.
YuviDAO’s wallet is on the Polygon blockchain.
By giving ETH to the DAO, fans can help the project.
The player with the most will have the opportunity to bowl 6 balls to Yuvraj Singh.
If the DAO wins the bid, the cricketer will meet the next three largest contributors.
Other rewards and benefits include private events with Yuvraj Singh, match tickets, and so on.
The monies will go back to the original owners if the community fails to win the auction.
So, A DAO is a democratic entity in which members make collective decisions via voting processes. Lastly, They are comparable to cooperative societies in that they pool resources and manage a project. Also, It’s a decentralized government endeavor.
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