Back

Trending Talks

DeGods Solana NFT Project to Buy Team Stake in Ice Cube’s BIG3 League

In brief

  • BIG3, a 3-on-3 basketball league, recently unveiled plans to sell team ownership stakes via NFTs.
  • Solana NFT project DeGods will purchase the top ownership stakes in one team, with DeGods holders offered access to lower-tier stakes.

Professional basketball league BIG3—founded by rapper and actor Ice Cube—recently announced plans to fractionalize team ownership by issuing NFTs for each of the 12 teams in its league, letting fans and investors buy in with perks aplenty.

Now we know that a popular NFT project will acquire the controlling interest in one of the teams.

Today, BIG3 announced that Solana-based NFT project DeGods has agreed to buy all 25 of the Fire-tier NFT ownership stakes in Killer 3s, one of the league’s 12 teams. Additionally, DeGods NFT holders will have access to up to 500 total “whitelist” spots to mint Killer 3s’ Gold-tier NFTs, of which there are 975 in total.

The Fire NFTs—which sell for $25,000 apiece—provide the most benefits for holders and offer more influence and control over a team. Fire NFT holders can vote on who will serve as team CEO, president, and VP, as well as use the IP rights to create team merchandise (with league approval).

DeGods will hold all of those stakes for Killer 3s, effectively giving it full control over the team. As part of this partnership, Killer 3s will sport a DeGods patch on their game jerseys, plus the NFT project’s branding will be integrated within broadcasts and on the scoreboard. DeGods community members will have access to as-yet-unrevealed opportunities around the team.

“This is probably the most fascinating experiment in the entire NFT space right now,” said founder Frank DeGods, in a release. “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.”

He told Decrypt that a DeGods NFT holder is a “crucial part of the league” and that they began discussing the idea a few months ago. The funds for the NFTs will come out of the project’s DeDAO treasury, and the initiative was voted for by DAO leadership, called the Divine Council. He also confirmed that DeGods NFT owners would influence the team’s management.

In a video message posted to BIG3’s Discord server this morning, Ice Cube discussed the broader idea of letting NFT communities buy controlling stakes in teams.

“We thought about this: should one community own a team like that? And the answer is yes, especially if it’s the right community,” he said. “The league needs these communities, and these communities want to come in and grow the league.”

He added that not every team in the league will take the same approach and that many tokens will still be available to the wider public.

BIG3 plans to hold the sale for NFT team ownership stakes in May, ahead of the league’s fifth season on June 18.

Post a Comment