Interest in the BIG3 basketball league created by American rapper and actor Ice Cube has skyrocketed recently . Earlier, we wrote that the decentralized autonomous organization Krause Haus and the creator of the MyDoge wallet also acquired stakes in some league teams. And the Killer 3s team was bought for $625,000 by another DAO, Degods.
Last Saturday , Ice Cube shared the news that all 25 NFT Fire-Tiers of the BIG3 Tri State team were purchased by a group led by entrepreneurs Sunny Deep, Vinnie Lingham and Kevin Rose. This acquisition will be sponsored by Kevin Rose’s Moonbirds NFT project.
This weekend, hip-hop legend Snoop Dogg teamed up with PayPal co-founder Ken Howry to buy all 25 Fire-Tier NFTs from another league team, Bivouac. Earlier, the rapper publicly announced that he plans to acquire one or two teams from his colleague’s league. For Ice Cube, the streak of team sales is not over, as back on Friday, entrepreneur Gary Vaynerchuk took part in the purchase of 25 NFT Fire-Tier team Triplets, which won the 2019 championship.
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The BIG3 3-on-3 basketball league was created by Ice Cube back in 2017. The league is very different from the NBA known to many. Teams are not tied to cities, and games are played in a 3v3 format rather than 5v5. It is played by former NBA players such as Rashard Lewis and Amar’e Stoudemire. Already at the beginning of last month, Ice Cube announced that it would link NFT technology to its league so that anyone could own one or more of the 12 teams represented in the league.
Each team has 1,000 NFTs of different rarities, such as Fire-Tier worth $25,000 each and Gold-Tier worth $5,000 per token. Thus, the owner (in the form of an organization or one person) of the largest number of team tokens receives ownership of the team. The owner can make decisions about the team, choose its CEO or president, and do things like create team merchandise and interact with league officials.
Many say that Ice Cube’s decision to bring NFT technology to the league is a progressive and practical move that is key to every smart investment.
