NFT project DeGods DAO buys basketball team in Ice Cube's Big3 leap
Solana's DeGods DAO became the first NFT project to acquire a basketball team, for $625,000
By Shashank Bhardwaj
Image: Aric Becker-USA TODAY Sports/ REUTERS
Solana-backed NFT project DeGods DAO purchased a professional basketball team in the Ice Cube’s Big3 League for $625,000 on April 28. DeGods DAO bought 25 ‘fire-tier’ NFTs and gained a stake in the team Killer 3s. Ice Cube said the deal would bring the fan and player relationship closer.
Following the launch of NBA Top Shot, which became a craze in the digital asset space in 2020, sports teams and players continue to drive fan engagement via NFTs. Basketball has been leading the bandwagon, with more teams and players joining in. These teams want to capitalize on the web3 infrastructure for fan engagement which has led to a surge in the interest for NFTs and the metaverse.
The Big3 League was co-founded by entertainment executive Jeff Kwatinetz and American actor and rapper Ice Cube in 2017. It is a 12-player league where people can own teams or buy a stake in these teams by purchasing NFTs at different levels.
DeGods DAO bought all the 25 fire-tier NFTs, which give holders the claim to ownership stakes in the Big3 basketball team Killer 3s. Each NFT was valued at $25,000. Frank, DeGod, DeGods DAO founder, said, “This is probably the most fascinating experiment in the entire NFT space right now. 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 deal places the DeGods community in a position of control over the Killer 3s team. It will be able to choose the CEO, the president, and the vice president. DeGods DAO will also have the intellectual property rights to launch merchandise that is officially licensed by the team. 3s’ official game jersey will also carry the DEGods NFT project logo and will be seen on broadcasts.
For the DeGods NFT holders, the deal brings ready access to 500 whitelist spots where NFT holders can mint a part of 975 killer 3’s Gold-tier NFTs. And each of these NFTs will have a value of $5,000. Ice Cube calls the move a great bridge between players and fans as the fans will be able to own the team they love directly. Cube said, “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.”
Last month, NBA also released another NFT collection, ‘The Association’ - an 18,000 NFT drop for fans to celebrate the NBA playoffs.
Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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BTC and ETH will break all-time highs in 2022: Celsius CEORead More..
Blockchain games are leading the DApp industry: DappRadar reportRead More..
Finance Minister Nirmala Sitharaman calls for global crypto regulationsRead More..
WazirX co-founders shifting base to DubaiRead More..
Blockchain.com reportedly exploring IPO this yearRead More..
CoinDCX raises over $135 million in fresh funding round, now worth $2 billionRead More..
Atari terminates blockchain joint venture with ICICB GroupRead More..
Monero's July hard fork confirmed by its communityRead More..
Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange CoinberryRead More..
US Govt Links North Korea to Axie Infinity HackRead More..
Jack Dorsey's first tweet NFT resells for only $280Read More..
Opera crypto browser now available on iOSRead More..
Beanstalk Stablecoin protocol loses $182 million in governance exploitRead More..
Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction feesRead More..
Ripple claims 'a very big win' in SEC caseRead More..
Argentinian town to invest in crypto mining to fight inflation, upgrade rail infraRead More..
Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billionRead More..
Homegrown blockchain co Polygon commits to go carbon neutral this yearRead More..
NBA registers four NFT trademarksRead More..
US crypto expert jailed 63 months for helping North KoreaRead More..
Fortnite developer Epic Games raises $2 billion to build for the metaverseRead More..
Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..