DAO Buys a Team in Ice Cube’s Basketball League

On Apr. 28, the DeGods NFT community acquired a basketball team in Ice Cube’s BIG3 league.

BIG3 had earlier revealed that they would sell ownership stakes in their 12 teams via different levels of NFTs. DeDAO, the decentralized autonomous organization comprised of DeGods NFT holders, purchased all of the top ownership stakes in a team called the Killer 3s.

Rather than selling the teams to “fat cats” as he previously imagined, Ice Cube said letting fans be owners was a “no-brainer.”

DeDAO agreed to buy all 25 of the $25,000 Fire-tier NFTs, which will give them a say in the team’s CEO, president, vice-president, and the intellectual property and licensing rights for league-approved merchandise. Additionally, DeGods NFT holders will have access to 500 presale spots to mint a portion of the 975 $5,000 Gold-tier NFTs, which give access to game tickets, merchandise, and team-decision votes.

In regards to BIG3 as a whole, Front Office Sports’ Liam Killingstad told The Defiant, “All the smaller leagues have to innovate to stay relevant but their project just…isn’t that compelling.” Regardless of if BIG3 is trying to ride the web3 hype wave, fractionalized ownership via NFTs is certainly an interesting approach.

The DeDAO has acquired a professional basketball team. pic.twitter.com/TgcwKy9tLU

— DeGods (33.3%) (@DeGodsNFT) April 28, 2022

The DeGods NFT collection has done over $38M in trading volume on the Solana blockchain. According to their roadmap, they are a “collection of degenerates, punks, and misfits [and the] Gods of the metaverse & masters of our own universe.”

DeGod #8323

DeGods is building an ecosystem around their $DUST token with the goal of eventually letting users buy, sell, and mint blue-chip NFTs with $DUST. Users can already buy select NFTs with $DUST and DeGods holders can stake their NFTs and earn $DUST rewards.