In this episode, James Burtt and Paul Abercrombie of Understanding Crypto meet with Mr. Hunter Orrell, a co-owner of Wagmi United, the most recent owners of the Crawley Town Football Club. They discuss the ways in which the organisation’s most recent acquisition combines web3 and web2 business tactics. In Hunter's opinion, NFTs are one of the best resources for fostering both online and offline fan communities within the club. The current web2 commercial structures, in his opinion, will eventually give way to a community-based economy.

We Are All Gonna Make It 

The name of the online team, Wagmi United, is an acronym for ‘We Are All Gonna Make It’. This echoes the decentralised philosophy of web3. Hunter received an unexpected text message asking if he was interested in buying a team, so he reached out to other football enthusiasts and web3 supporters to complete the transaction. The group's decision to utilise web3-style financing allowed the procedure to be completed in as little as two months. "We're all web3-based people, and if you look at the world around you right now, there are all these different industries. Web3 will come in and disrupt your industry no matter what industry you're in right now," Hunter tells James and Paul. 

It is no surprise that one of the group's guiding principles is the progressive incorporation of the web3 business model into the existing Web2 organisation. The club's long-term goal is to get to a point where fans regularly receive information about the club's community and gradually saturate web3 with news of the club's successes. James applauds the Crawley Club's continuous development as well as their commitment to inform fans about web3. [Listen from 1:13]

Building Community

Hunter believes that NFTs are the most effective tool for building communities and fans. This conviction has since motivated him to use the technology to create special opportunities for fans to vote on choices involving the club's players. He emphasises the significance of permitting season pass holders to vote as opposed to restricting them because they lacked NFTs. This strategy was effective and they were able to win over the support that the initiative lacked at its inception. 

Paul notes that it's common practice in the UK to vilify club owners; Hunter thinks that public perception will change as club owners' demonstrate their commitment to the development of the local economy. Fans being able to witness the club's daily business is invaluable to its growth. James agrees and commends their strategy: "I think you guys have taken the web3 concept of community and you're actually taking it to Crawley and executing it in the real world,” he tells Hunter. Hunter believes that eventually the current Web2 business models will shift. "The community economy is the type of company model I believe we'll see in the future. It will be one where companies that prioritise community development give value to clients.” [Listen from 11:15]

Financing the Purchase

Paul and Hunter discuss the financial planning strategies that were used to purchase the football club. When questioned about the group's club selection methods, Hunter acknowledges that Crawley Town didn't have any real management concerns, but that their willingness to use web3 technology was the key deciding factor. He notes that the Crawley team matched his cultural ideals regarding innovation, which made the transition easy. He claims that his decision to leave the corporate sector and fully immerse himself in the realm of web3 is evidence of his commitment to this enterprise and shows his loyalty to cryptocurrency. He accredits his current success to his consistent investments in NFTs, which took him down some interesting avenues, including this current endeavour. "I've owned multiple merch companies, but for me the way it's possible to be a co-owner in a football club was through web3 crypto and NFTs." He believes that NFTs will undergo further transformation as the art world continues to shift its focus to digital art. [Listen from 25: 44]

The Way Forward

As long as Crawley FC is committed to fusing the web2 and web3 worlds, Hunter feels optimistic about their future. They will continue developing and promoting infrastructural facilities for NFT and gamification education on the clubs' many platforms. The corporation also prioritises the globalisation of the Crawley Town and Wagmi United brands.

Key Takeaways

• Hunter believes that NFTs are the most effective tool for building communities and fans.
• Hunter admits that Crawley Town's openness to embrace Web3 technology was the deciding factor for their purchase.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram 

Wagmi United on Twitter