Extreme sports have always been considered by the dull and dreary public as less legit than other sports. As a result, it is comparatively harder for extreme athletes to make ends meet. NFTs called Gnars are set to rock the extreme sports ecosystem and create a new world where the community is free from corporate influence and empowered to govern and fund itself.
Conventional funding is cool, but…
While extreme brands are always looking for new ambassadors, they offer limited numbers of grants. Unless you are the only rider in your city, the chance of getting any financial support is slim. With hundreds to tens of thousands of aspiring extreme athletes in every country, you have to be spectacular to be in the running for a big brand sponsorship.
Besides, sponsorships rarely come free. Behind every sponsorship are hours of sending emails, submitting online applications, and shaking hands with people that may be able to bump your request up another level. While extreme sports sponsors are typically less conservative than others, you may still be expected to tone down the way you walk or talk.
You know, just be professional and all. That is (understandably) part and parcel of sponsorship. Brands do not shell out funds just to let riders be their best selves; they want to sell heaps of their products as well. That said, it can be difficult to reconcile the idea of being an edgy extreme sports athlete with being a front for a corporate entity. It kills your soul a little.
Even if these brands produce some things that you love. For example, it is pretty sweet to have a case of energy drinks to share at the park but do you really want the kids that look up to you to be drinking them all the time? The same goes for streetwear brands. Admittedly many of them are involved in the community, but you know in your gut that there is an underlying agenda.
Gnars DAO has entered the building
So, what is the solution to becoming a cog in the corporate machine? Riders need funds to get gear, travel to competitions, or just pay for food while pursuing their passion. Is there a way that extreme athletes can survive and prosper purely from the support of their community? Meet the new and improved version of crowdfunding: Gnars DAO.
Gnars DAO is the offspring of Nouns DAO. Nouns DAO is an infinite NFT art project where one Noun is sold by auction each day. Today, 460 days later, Nouns DAO boasts a treasury of 28,966 ETH ($38 million). Each noun gives its owner a lifetime membership to a community-governing body and a vote to cast on how the funds are used for community initiatives.
Gnars DAO was born when its founder Gami submitted a proposal to Nouns DAO for a project designed for the extreme sports community. According to Gami, “we prefer a world where kids aren’t shilled energy drinks by their heroes. So as a community of action sports enthusiasts, we’ve formed a DAO to rethink how extreme sports people get sponsored.”
Gnars are unique NFTs that are auctioned off every ten minutes. Unlike Nouns which are of unlimited supply for the foreseeable future, the supply of Gnars will reduce by half for every thousand Gnars minted. But, similar to Nouns, owners of Gnars are entitled to voting on governance issues including how the treasury funds are spent and which athletes to sponsor.
At the time of writing, the Gnars DAO treasury stands at 73.495 ETH ($98,049). In the words of Gami himself, these funds are to be used for “creative s**t.” Gnars funds have been distributed to several recipients, who have used it to create some extremely nounish content. Taking its cue from Nouns, nounish describes something that inspires and empowers the community.
So, who benefits?
Gnars DAO funds nounish initiatives to support the people, places, and objects that make the extreme sports community unique. Riders and artists from all around the world can send in applications to seek financial support for their projects. This can be for long-term sponsorships, one-off competition travel expenses, filmmaking, or extensive on-the-ground projects.
One such project funded by the Gnars community is located in Uganda. In August, Gnars DAO donated 2.5 ETH to the Ugandan Skateboarding Association to support the local skate scene and fund the purchase of boards and merch. Future project plans include a streetwear line where a rider in Africa receives a free pair of shoes for every pair sold elsewhere.
Gnars DAO provides much-needed autonomy and public governance to a sector of sports that is becoming increasingly corporate. Individual athletes and communities can access financial support from their people and thrive in an ecosystem that shares the same views and values as them. The result is a community that is free to shape itself in the way that it wants.
Find out more
Check out Gnars DAO to see how it is revolutionizing the extreme sports ecosystem. For artists and riders who are looking to hang out and maybe get some funding, it costs nothing to join the inclusive family. For extreme sports enthusiasts who want to support their favorite riders, Gnars are a great way to invest while doing your part to empower the community.