Ice Cube backs DOGE and an ‘incredible and historical’ transaction

Ice Cube backs DOGE and an ‘incredible and historical’ transaction

Iconic rapper Ice Cube — often known as O’Shea Jackson Sr. — has jumped on the Dogecoin (DOGE) bandwagon along with his endorsement of an “incredible and historical” DOGE transaction.

Cube’s entry into the wild world of Dogecoin is said to the BIG3 basketball league that he co-founded. The group predominantly options former NBA stars in a three-on-three format versus the common five-on-five basketball video games.

Last month, the BIG3 launched a brand new possession mannequin for the league, which consists of promoting tokenized stakes in every of the 12 groups. There are 1000 nonfungible tokens (NFTs) in whole allotted to every group, with 25 “Fire” NFTs price $25,000 a pop and 975 “Gold” NFTs at $5,000 every.

On Wednesday, MyDoge pockets co-founder Bill Lee tweeted at Ice Cube saying “if ya dig DOGE, me and the DogeArmy will take one as well,” in reference to a earlier put up from Ice Cube asserting that Snoop Dogg was shopping for two groups.

Ice Cube then replied with “come on wit it Bill, you know i’m down with the DogeArmy.”

While it’s unclear how “down” with the DogeArmy Ice Cube truly is, the BIG3 promptly fired out a press launch on the identical day asserting that Lee had bought all 25 Fire NFTs for the “Aliens” group by way of DOGE.

The “incredible and historical” transaction, as described by Ice Cube, was price $625,000, or roughly 4.86 million DOGE on the time of writing, with the BIG3 additionally calling it the “largest commercial transaction in history” of DOGE.

Related: Tumbleweeds blow via Coinbase NFT on its first day: Just $75K in quantity

The Fire NFTs characterize the upper finish of possession and utility advantages, resembling recreation administration, voting rights and mental property/licensing rights for group logos, names and merchandise. Notably, if the proprietor/hodler was to promote their Fire NFTs, they’d additionally get a 40% lower of the sale.

As a part of the announcement, Lee took a slight dig at NFT initiatives that includes apes and owls, suggesting that he solely seems to be at NFT initiatives with utility. This is, in fact, even though some ape and owl initiatives have constructed utility for hodlers and is fairly lofty rhetoric for a person primarily engaged on growing wallets for a memecoin that was created as a joke.

“While others are buying NFT images of apes and owls, I believe that NFTs with utility are the next frontier. It is a dream to own a basketball team and the BIG3 is shifting the NFT game by offering ownership rights such as licensing/IP, team voting/management, and merchandising.”

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