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NFT project buys Ice Cube basketball team for $625,000

 


DeGods, a popular NFT project on the Solana blockchain, bought a BIG3-Leauge professional basketball team from rapper Ice Cube for around $625,000.


According to a Twitter announcement on April 28, the DeGods DAO acquired all 25 of the so-called "fire tier" NFT shares in the team dubbed the Killer 3s. Each NFT cost $25,000. So the total was around $625,000.


BIG3 is a 12-team basketball league co-founded in 2017 by American rapper and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league uses an NFT ownership feature , where fans can buy a stake in each team.


"This is probably the most intriguing experiment in the entire NFT space," said DeGods founder Frank DeGod. "It's cool because owning and organizing a basketball team is a dream for millions of people. Now we can make that dream come true for our owners.”


The purchase gives the DeGods community some level of control over the team. The community can influence the activities of the CEO, the President and the Vice President. In addition, the DAO obtains rights to the team's intellectual property to produce officially licensed merchandise.


The DeGods NFT Project logo will also appear on the Killer 3s official game jerseys and be featured in the broadcasts. In addition, DeGods NFT holders will have access to 500 whitelisted slots, allowing them to mine a portion of Killer 3's 975 Gold Tier NFTs. Each non-fungible token of this tier will cost $5,000.


Ice Cube: NFT age connects people and sport

Ice Cube, founder of the BIG3 basketball league, explained that the decision to sell clubs through NFTs is to bridge the gap between fans and the sport, giving them direct ownership of a team they love.


"We're in the NFT era right now, " said the rapper, who recently bought a DeGods NFT for 265 SOL ($23,000 at current prices). It's a time where, through the blockchain, fans can actually buy a piece of any team in the BIG3 or any team in the BIG3."


The DeGods describe themselves as “a collection of degenerates, punks and oddballs. Gods of the Metaverse and masters of our own universe”. The collection includes 10,000 NFTs mined in October at a price of 3 SOL. At the time of writing, the average base price was 257 SOL, which is over $22,000 per NFT. Overall, the trading volume of the traded pieces was more than 40 million US dollars.

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