A DAO Just Bought A Sports Team

    • NFT project DeGods has purchased a stake in BIG3’s Killer 3s team.
    • BIG3 announced it would fractionalize its team ownership through NFT collectibles earlier this month.

BIG3, Ice Cube’s 3-on-3 basketball league, announced plans to fractionalize its team ownership through NFT collectibles earlier this month.

On Thursday, the league announced that DeGods, Solana’s biggest NFT project by market cap, is purchasing all 25 of the Fire-tier NFT ownership stakes — which run for $25,000 each — in BIG3’s Killer 3s team.

The Fire tier is the top level of NFT ownership, providing holders with more influence and control over a team. They’ll have a say in the team’s CEO, president, and vice president, as well as intellectual property and licensing rights. 

Killer 3s will also sport a DeGods patch on their jerseys.

As part of the purchase, those with DeGods NFTs will have access to 500 whitelist spots for a total of 975 Killer 3s Gold-tier NFTs — listed for $5,000 — allowing them to access the NFTs before they’re launched. The Gold tier offers access to game tickets, merchandise, and team-decision votes.

CryptoSlam reported that DeGods has generated more than $38 million in trading volume to date.

After the announcement, Ice Cube clarified that not every team will take the same approach as the Killer 3s, allowing for the wider public to hop on the NFT ownership trend. All teams’ NFTs will be minted on Ethereum.