DeGods, a well-liked NFT undertaking on the Solana blockchain, purchased knowledgeable basketball staff in Ice Cube`s BIG3 league for an estimated $625,000.
BIG3 is a 12-team basketball league co-founded by American rapper and actor Ice Cube and leisure govt Jeff Kwatinetz in 2017. The league has been working an NFT possession mechanism, the place followers can purchase a stake in any staff at completely different ranges.
The DeGods DAO purchased all 25 of the so-called ‘fire-tier’ NFT possession stakes in a staff known as Killer 3s, in keeping with an announcement on April 28. Each NFT price $25,000, or about $625,000 in whole.
“This is probably the most fascinating experiment in the entire NFT space right now,” DeGods founder, Frank DeGod, was quoted as saying. “It’s cool because owning and operating a basketball team is a dream for millions of people. Now, we get to make that dream true for our holders.”
The buy offers the DeGods group some stage of management over the staff, together with the function of CEO, president and the vice chairman. It may even present the DAO with mental property rights to create formally licensed merchandise.
DeGods’ NFT undertaking brand may even be added to the Killer 3s’ official sport jersey and can seem on broadcasts. In addition, DeGods NFT holders may even have entry to 500 whitelist spots to mint part of 975 Killer 3’s Gold-tier NFTs. Each non-fungible token at this stage will price $5,000.
Ice Cube hopes to carry followers nearer to the game by way of NFTs
Ice Cube, the BIG3 basketball league founder, mentioned the choice to promote golf equipment by way of NFTs is supposed to bridge the hole between followers and the game, giving them direct possession of a staff they love. This transfer follows in footsteps of the NBA additionally dipping its toes into Web3.
“Right now, we are in the day of the NFT,” mentioned the rapper, who not too long ago purchased a DeGods NFT for 265 SOL ($23,000 at present costs). “It’s a time where through the blockchain, fans can actually buy a piece of any team in the BIG3 or all the teams in the BIG3.”
DeGods describes itself as “a collection of degenerates, punks, and misfits. Gods of the metaverse and masters of our own universe.” There is 10,000 NFTs in the gathering, minted at a worth of three SOL in October. At the time of writing, the common flooring worth was at 257 SOL, or over $22,000 per NFT. In whole, greater than $40 million of the items have been traded.
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