Krause House

Recipient: Lewwwk#4227

Wallet: 0xAEa967842976600f1a9256DcA207E4435A6f0112

Request

• 7,500 $KRAUSE / month
• 7,500 $USDC / month

Paid monthly, at the end of each month, for April, May, June, July 2023.

Protections

• Stewardship team may cancel this agreement at any point.
• Community may submit a proposal to cancel this agreement at any point.

Scope of Work

This proposal is a continuation of a previous stream that concluded March 31st, 2023.

The scope of work for this includes up to 3 days per week, or 12 days per month by Lewwwk#4227 focused on:

• Supporting NBA acquisition leads in transaction structuring and closing
• Identifying, leading, and managing SPV opportunities across sport
• Establishing our capital infrastructure, including fund and SPV capabilities
• Engaging and managing capital partners, investors, advisors, and contributors

Purpose of this Work

Krause House formed around an ambitious mission to buy an NBA team. In less than two years, we’re on the doorstep, and have learned a lot about the value community can bring to ownership in the NBA, and professional sports more broadly.

This phase of the capital coordination stream is focused in on executing our first transactions and preparing to scale community-driven ownership across professional sports.

Results from Previous Work

Through work completed under the previous capital coordination streams Lewwwk, in collaboration with Commodore, Flex, and advisors:

• designed an evergreen, multi-strategy investment platform, including compliant tokenization options for Fund 1 and future capital strategies
• handled administration of Krause House Capital including compliance registration and initial transaction infrastructure setup
• managed relationship with key advisors Luis Vicente and Michael Broughton
• engaged with team and league owners across sport, including pitch materials for Krause House community management services
• facilitated an introduction to an incoming NBA owner
• supported transaction readiness for two NBA ownership positions
• secured initial investment interest in fund, SPV, and NBA ownership opportunities
• secured NBA transaction counsel
• hosted weekly #dio-chats for interested members
• supported exploration of external capital options and spin-out strategies for HeatCheck; development of All In For Sport; and the Future of Sport roadmapping project

What Changed Over the Last Stream

Over the past stream we found ourselves on the doorstep of ownership as market conditions continued to deteriorate into the worst capital raising market in over a decade.

In response, attention shifted toward preparing and supporting potential NBA ownership positions; adapting the fund strategy; and accelerating work to bring the first SPV to our community to demonstrate what Krause House ownership will look like across sport.

What Does Success Look Like

• An LOI signed for a minority ownership position in an NBA team
• Our first SPV complete for community investment into a sport team outside the NBA

Voting Options and Determination

1. Approve
2. Against
3. Abstain

Abstain votes are discarded. This proposal passes if option 1 (Approve) receives more votes that option 2 (Against).