A popular NFT project on the Solana blockchain, DeGods, acquired a professional basketball team in Ice Cube’s BIG3 league for about $625,000. The American rapper and actor, and Jeff Kwatinetz, an entertainment executive, co-founded BIG3, a 12-team basketball league. It has been running on an NFT ownership mechanism whereby fans can purchase a stake in any team at different levels.
Frank DeGod, the founder of DeGods, highlighted this as probably the “most fascinating experiment” in the entire NFT space right now. He believes this is cool because owning and operating a basketball team is a dream for millions of people. Frank said that DeGods, now, gets to make that dream true for its holders. The DAO – DeGods – bought all 25 of the fire-tier NFT ownership stakes in a team called Killer 3s, with each token costing $25,000, and in total $625,000.
This has empowered the DeGods community with some level of control over the team, including the role of CEO, vice-president, and president. It will provide the DAO with intellectual property rights to officially create licensed merchandise. An official statement said that DeGods’ NFT project logo will be added to the Killer 3s’ official game jersey. It will also appear on broadcasts. Moreover, DeGods NFT holders will get access to 500 whitelist spots to mint a part of 975 Killer 3’s Gold-tier NFTs. At this level, each NFT will cost $5,000.
Ice Cube said the decision to sell clubs via NFTs will bridge the gap between fans and the sport. It will give them direct ownership of a team they love. The rapper highlighted that right now, BIG3 is in the day of the NFT. He said that through blockchain, fans can buy a piece of any team in the BIG3 or all the teams in the league.
DeGods is a collection of degenerates, punks, and misfits, in other words, Gods of the metaverse and masters of the universe.