將辛辛那提孟加拉人的象徵化：將團隊留在城裡的長遠想法

當地的技術投資者認為，他有解決漢密爾頓縣體育場困境的解決方案。亞當·科勒（Adam Koehler）想將辛辛那提孟加拉人歸納。

CINCINNATI — A local technology investor thinks he has the solution to Hamilton County’s stadium dilemma: tokenize the Cincinnati Bengals.

辛辛那提（Cincinnati） - 當地的技術投資者認為，他有解決漢密爾頓縣體育場困境的解決方案：辛辛那提孟加拉人。

That means converting the team’s shares into digital assets that can be bought, sold and traded like bitcoin. Such a deal could generate billions of dollars in cash for the family of Bengals owner Mike Brown, while keeping them in control of the franchise founded in 1967 by NFL Legend Paul Brown.

這意味著將團隊的股份轉換為可以像比特幣一樣購買，出售和交易的數字資產。這樣的交易可能會為孟加拉人家人邁克·布朗（Mike Brown）的家人帶來數十億美元的現金，同時使他們能夠控制NFL傳奇人物保羅·布朗（Paul Brown）於1967年成立的特許經營權。

“It would allow the residents of Cincinnati, instead of going broke spending money on the sales tax, (to) put their money into something that’s practically guaranteed to make money,” said Adam Koehler, founder of Reversed Out, LLC, a digital advertising agency in Covington. “Five years ago, this team was probably worth $2.5 billion. Now it’s worth $5 billion. It’s like, how many billion dollars do you need on paper? At some point, you probably want to get liquid.”

“這將允許辛辛那提的居民，而不是賺錢，而不是花錢，而是將他們的錢投入到實際上保證賺錢的東西中。” Reversed，LLC的創始人Adam Koehler說，數字廣告的創始人是在卡溫頓的代理。 “五年前，這支球隊可能價值25億美元。現在價值50億美元。就像，您需要在紙上需要多少億美元？在某個時候，您可能想獲得液體。”

The Bengals did not respond to an email seeking comment for this story. But there is reason to believe the team would not be interested in Koehler’s idea.

孟加拉人沒有回復一封有關此故事的評論的電子郵件。但是有理由相信團隊對Koehler的想法不會感興趣。

“They’re not necessarily early adopters,” said Joe Cobbs, a professor who runs the Sports Business and Event Management program at Northern Kentucky University. “They’ve shown themselves to be pretty conservative in their approaches, and it’s worked for them.”

“它們不一定是早期採用者，”在北肯塔基大學經營體育商業和活動管理計劃的教授喬·科布斯（Joe Cobbs）說。 “他們表明自己的方法非常保守，這對他們有用。”

The Bengals were the only NFL team to vote against a rule change last November that allows private equity firms to purchase ownership stakes of up to 10 percent in an NFL team.

孟加拉人是去年11月對規則變更投票的唯一一支允許私募股權公司在NFL團隊中購買多達10％的所有權股份。

But Koehler figures cash would come in handy for the Brown family, which made the Forbes 400 last year with an estimated net worth of $3.9 billion.

但是Koehler認為現金將為Brown Family提供用場，這使福布斯400號（Forbes 400）估計為39億美元。

“One of the big problems for these billionaires like Mike Brown, who’s a billionaire on paper, is ‘Does Mike Brown have that liquid money? Does he have that cash sitting there?’ The answer is no,” Koehler said. “That’s a big problem for us as fans because he can’t pay players. You saw Jessie Bates walk. You saw D.J. Reader walk. Hopefully they can work out a deal with Ja’Marr Chase, who’s the best receiver in the league. But they have to guarantee so much money.”

“對於這些億萬富翁等這些億萬富翁的最大問題之一是紙上的億萬富翁，邁克·布朗有液體錢嗎？他有那筆錢坐在那裡嗎？答案是否定的，”科勒說。 “作為粉絲，這對我們來說是一個大問題，因為他無法付錢給球員。您看到傑西·貝茨（Jessie Bates）走路。您看到DJ閱讀器步行。希望他們能與聯盟中最好的接球手Ja'marr Chase達成協議。但是他們必須保證這麼多錢。”

NFL rules require teams to place money in escrow for long-term contract guarantees. The Bengals are known for avoiding guarantees beyond a contract’s first year. Koehler said the team could also use an influx of cash for stadium expenses or estate taxes.

NFL規則要求團隊將資金放在託管中，以獲得長期合同擔保。孟加拉人以避免合同第一年的保證而聞名。科勒說，該團隊還可以使用大量現金用於體育場費用或房地產稅。

“We don’t know what their financial situation is, personally. But I would guess that, if all their wealth is tied up into that asset, they probably want to get liquid at some point,” Koehler said.

“我們個人不知道他們的財務狀況是什麼。但是我猜想，如果他們所有的財富都與該資產聯繫在一起，他們可能想在某個時候獲取液體。”科勒說。

'It's crazy in the sense that it's new'

“從某種意義上說是新事物很瘋狂”

The idea of tokenizing the Bengals has been percolating in Cincinnati’s startup community for years. Koehler was one of those stirring the pot, as he looked for new opportunities following the 2015 sale of Dotloop. It was one of Cincinnati’s biggest startup success stories, when it sold for $108 million to Zillow. Koehler was among its founders.

多年來，辛辛那提初創企業社區中陳釀孟加拉人的想法一直在滲透。 Koehler是在2015年出售Dotloop之後尋找新機會的鍋裡的人之一。這是辛辛那提最大的創業成功案例之一，當時它以1.08億美元的價格向Zillow賣出。 Koehler是其創始人之一。

A few years after the sale, Koehler “started getting into crypto. I own a digital agency. I had to understand how blockchain worked.”

出售幾年後，Koehler“開始進入加密貨幣。我擁有一個數字代理。我必須了解區塊鍊是如何工作的。”

Blockchain is a digital ledger that allows a series of transactions to be recorded, time-stamped and shared in a way that’s intended to promote transparency and prevent fraud. It’s used by cryptocurrency investors to buy and sell digital currencies like bitcoin and ethereum, but it can also track digital tokens that use a unique number to represent ownership of a specific asset.

區塊鍊是一個數字分類帳，允許以旨在促進透明度和防止欺詐的方式記錄，時間戳記和共享一系列交易。加密貨幣投資者使用它來買賣比特幣和以太坊等數字貨幣，但它還可以跟踪使用唯一數字代表特定資產所有權的數字令牌。

Koehler helped organize a 2017 conference in Northern Kentucky called “A Day for Crypto.” It explained the industry to about 200 local attorneys and investors. He formed a startup called C-Prop, which uses blockchain technology to document real estate transactions.

Koehler幫助組織了2017年在北肯塔基州舉行的，名為“加密貨幣的一天”。它向大約200名當地律師和投資者解釋了該行業。他成立了一個名為C-Prop的初創公司，該公司使用區塊鏈技術記錄房地產交易。

“Then, we started going down this whole path of what can be tokenized,” Koehler said.

“然後，我們開始沿著可以被象徵化的整個道路走去，”科勒說。

In the process, he met Mike Hiles, founder of 10XTS, a consulting firm that helps investors tokenize what the industry calls RWAs, or real-world assets.

在此過程中，他遇到了10xts的創始人邁克·希爾斯（Mike Hiles），這是一家諮詢公司，可幫助投資者將行業所謂的RWAS或現實世界中的資產歸為現實。

“Imagine a world where you could own a piece of your favorite painting, a slice of a skyscraper or a fraction of a gold bar,” says the company’s promotional video. “That’s the power of tokenization.”

該公司的宣傳視頻說：“想像一下一個世界，您可以擁有自己喜歡的一幅畫，一片摩天大樓或一小部分金條。” “這就是令牌化的力量。”

It makes perfect sense to Hiles that the Cincinnati Bengals could be tokenized.

對於辛辛那提孟加拉人可能被象徵化的hiles是完全有意義的。

“I mean, it’s crazy in the sense that it’s new,” he said. “But it’s also based on legacy financial structures.”

他說：“我的意思是，從某種意義上說，這很瘋狂。” “但這也基於傳統金融結構。”

Hiles said the concept is catching on quickly in the financial industry, where tokens are being used to represent bond transactions, loans and mutual fund trades. Adoption has

希爾斯說，這個概念在金融業迅速引起了人們的關注，在那裡代表代表債券交易，貸款和共同基金行業的概念。收養有