Jet Encila
High-ticket items have been on the shopping list of decentralized autonomous organizations (DAOs) over the last 12 months, and on April 29, the DeGods DAO announced the acquisition of a BIG3 professional basketball club dubbed the “Killer 3s.”
The DeGods DAO purchased all 25 of Killer 3s’ so-called ‘fire-tier’ NFT ownership shares. Each NFT costs $25,000, totaling approximately $625,000, DeGods announced.
These tokens grant owners the right to license and intellectual property rights in connection with team names, products, logos, and other game-day promotional campaigns.
The DeDAO has acquired a professional basketball team. pic.twitter.com/TgcwKy9tLU
— DeGods (33.3%) (@DeGodsNFT) April 28, 2022
Suggested Reading | VR Metaverse Sculptor Believes NFTs Can ‘Democratize’ Imagination
DeGods DAO Enters The Hardcourt
Meet-and-greets with players and coaches, autographed memorabilia, access to practices and after-parties, and phone calls with Ice Cube, Kwatinetz, and commissioner Clyde Drexler are also included.
DeGods has also gained the ability to whitelist up to 500 of the 975 gold tier NFTs for purchase by its members.
These NFTs offer VIP access to all matches, special edition items, voting privileges, phone calls with captains, coaches, commissioners, and referees, as well as a championship ring for winning team owners, who will also receive a share of future team sales.
Crypto total market cap at $1.73 trillion on the daily chart | Source: TradingView.com
BIG3 is a basketball league founded by Ice Cube, a hip-hop mogul and actor. The league’s games are played in the style of a three-on-three basketball competition.
Frank DeGod, the creator of DeGod, was reported as saying:
“This is perhaps the most exciting experiment now taking place in the NFT sector… it’s cool because owning and controlling a basketball team is a fantasy shared by millions of people. Now, we have the opportunity to make that goal a reality for our holders.”
DAOs leverage smart contracts and a set of rules to empower collectives with decision-making authority, rather than an individual or a centralized entity.
The BIG3's embrace of this new technology is in line with a league that is always on the cutting edge of social trends. (Image credit: Clutch Points)
Basketball And The NFTs Era
The rules, as well as any actions conducted, are recorded and validated using blockchain technology, theoretically ensuring a high level of transparency.
The rosters were formerly determined by the captains and coaches — however team chief executives, presidents, and vice presidents will now be chosen from among Fire stakeholders — and the games are held in a variety of places throughout the summer.
“Right now, we are living in the NFT era,” Ice Cube, who recently purchased 265 of DeGods’ NFTs, explained.
The BIG3’s embrace of this emerging technology is consistent with a league that is frequently on the cutting edge of social trends.
“It’s a period when fans can actually purchase a piece of any of the BIG3 teams or all of the BIG3 teams via the blockchain,” the rapper continued.
Featured image from Bitcoin News, chart from TradingView.com
