DeGods DAO Just Bought a Basketball Team in Ice Cube’s Big3 League For $625,000

For an estimated $625,000, DeGods, a prominent NFT project on the Solana blockchain, purchased a professional basketball franchise in Ice Cube’s BIG3 league. In 2017, Ice Cube, an American rapper and actor, and entertainment mogul Jeff Kwatinetz co-founded the BIG3, a 12-team basketball league. The league has an NFT ownership mechanism in place, where supporters can purchase a stake in any team at various levels. According to an announcement on April 28, the DeGods DAO purchased all 25 of the so-called “fire-tier” NFT ownership stakes in a team called Killer 3s. Each NFT cost $25,000, totaling around $625,000. “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 DeGods community now has some authority over the team, including the roles of CEO, president, and vice president, thanks to the purchase. It will also give the DAO the ability to develop legally sanctioned items thanks to intellectual property rights. The Killer 3s’ official game shirt will have DeGods’ NFT project emblem, which will also appear on broadcasts. In addition, DeGods NFT holders will have access to 500 whitelist seats for a chance to win one of 975 Gold-tier NFTs from Killer 3. At this level, each non-fungible token will cost...