A hot topic as of late is Web3. It’s a new iteration of the internet, through which one can read, write, and own.
The partners, today, released NFT tokens to a project granting holders access to an exclusive community, ownership rights to a Fan Controlled Football team, in-person events, and more.
Benzinga caught up with the two to learn more about how they’re bringing utility to the nascent Web3 ecosystem.
An Atypical Team: Since Johnson and Bohling first met while attending the Indiana State University in 2017, the two have remained close through their foray into business and beyond.
Johnson, who was named one of the “top 29 up-and-comers changing the world of venture capital” by Business Insider, launched Animal Capital last year, a multimillion-dollar VC backed by the likes of the Winklevoss twins and Paris Hilton.
There he leverages his experiences creating content to promote innovation and scale startups in fintech, healthtech, and media.
Bohling, on the other hand, who was previously at Litecoin Gaming, is both a consultant and agent to professional athletes. With Johnson, he’s building Bad News Bears (BNB), which bridges the gap between Web2 and 3.
Not An NFT Derivative: Often, especially in this stage of the market’s cycle, there are NFTs being formed utilizing the intellectual property and creativity of existing projects.
Bohling, who immersed himself in the space earlier last year, said that’s really bothered him.
He’s longed for unique projects that offer participants actual utility.
“All too often, the model is centered around generating exit liquidity,” Bohling said, adding that he and Johnson, naturally, put themselves in project owners’ shoes and thought of ways they’d reap the most value.
“Some of these projects, and the prices they were going for, did not make sense. We wanted low barriers to entry and a ton of value.”
And so, that was the inception of BNB, a Web3 on-ramp for those who were successful in Web1 and Web2.
Johnson, who has an investment portfolio of over 30 companies including the Fan Controlled Football (FCF) league, to which he is also an advisor, is deeply immersed in burgeoning startup ecosystems across the United States. Many of his contacts, however, have yet to grasp the utility of Web3 and BNB is that solution, he explains.
“We’re going to change that,” Johnson added. “I am blessed with amazing crypto advisors that have guided me throughout Web 3 starting with my first NFT, a cryptopunk, that I bought in 2021 thanks to Gary Vaynerchuk.”
The Perks Of BNB: For less than $50 per token, holders immediately receive access to an exclusive “Alpha” community of “like-minded” individuals seeking perspectives and connection across “entrepreneurship and investing.”
An added bonus is access to live events, like those hosted by the FCF league, and a portion of proceeds from future sales of merchandise by the group, and giveaways, among other things.
“We have so much planned,” Bohling said in an expression of excitement. “For example, with FCF, we have a team next season, and that will be an extension to existing ones owned by the Bored Ape Yacht Club and Gutter Cat Gang.”
“As an NFT holder, you’re able to play a part in how the team is run. You can choose the coach, the players that will take over the position, and more.”
As it was explained to Benzinga, having the BNB token is akin to holders playing the Madden NFL video game in real life.
Where To Next: The founders are focused on building BNB into a massive brand.
The collective’s been working on the project for nearly a year and the so-called “stealth drop” occurred on May 20, 2022 at 5:00 PM ET.
“We’re really excited about what happens, after,” Bohling said. “We’re in talks with companies to offer holders added value such as giveaways, percentage of sales to live events and DAOs.”
On the timeline, too, is the giveaway of high-end goods like Rolex and Audemars Piguet watches. BNB will host an event in Miami, at which the giveaway is set to happen.
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