NFT ownership in Ice Cube’s BIG3 basketball league collection is being taken up fast.
Yesterday Ice Cube announced that the 25 Fire-Tier NFTs for his BIG3 team Tri-State were bought by a group led by tech entrepreneurs. This group of entrepreneurs includes Sunny Deep, Vinny Lingham, and Kevin Rose.
Here is the tweet,
Ice Cube also expressed that Moonbirds, Rose’s NFT collection of 10,000 pixelated owls, will be the community sponsor behind the investment.
Also this weekend, Snoop Dogg partnered up with PayPal co-founder Ken Howery to purchase all 25 Fire-Tier editions of the BIG3 team Bivouac.
The trend doesn’t stop here, On Friday entrepreneur Gary Vaynerchuk also got involved in a heavy investment, purchasing 25 Fire-Tier editions of the 2019 championship-winning Triplets.
So what’s all the fuss exactly about?
Ice Cube launched the BIG3 league in the Year 2017. It is very distinct from the NBA: Teams aren’t tied to cities, and games are 3-v-3, not 5-v-5. The game does feature former NBA players such as Rashard Lewis and Amare Stoudemire.
NFT enthusiast Ice Cube didn’t stop there. Last month he declared he was utilizing Ethereum to fractionalize the license of the league’s franchises.
The game goes like this: The league includes 12 teams. And people can hold parts of the teams by investing in NFTs (non-fungible tokens).
Every team contains 1,000 total NFTs divided between two tiers: 25 “Fire” NFTs at $25,000 apiece, and 975 “Gold” NFTs at $5,000.
When a person or organization attains ownership through the NFTs i.e, owns the bulk of the NFTs, they’re able to make team decisions, choose its CEO or president, and also do things like create team merchandise and interact with league officials.
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NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFT trading.