Chapman, a pseudonym he goes by in crypto circles, is trying to bring the NBA into Web3 with his organization, the Krause House, founded this past summer. The group plans to replace the usual model of a single billionaire owning a team. Instead, its 1,200 members would collectively buy and run an NBA team. It’s the latest in a series of experiments with decentralized autonomous organizations. DAO is a fancy name for how groups can organize using blockchain technology. Members buy into the group through tokens, and then they receive voting power based on their holdings.