Ice Cube, an American rapper, founded the Big3 professional basketball league, and Big3 chose to sell the team's rights using non-fungible tokens (NFTs). The Big3 league decided to sell 25 Fire-Tier NFTs, which gives owners control of the Killer 3s' licensing, intellectual property (IP) and league-approved items. On May 4, BIG3 announced that Bill Lee acquired all 25 Fire-Tier editions of BIG3's Aliens through Dogecoin, marking the largest commercial transaction in history for the cryptocurrency.
“Having buy-in from Bill, who has done so much in the NFT and crypto world, confirms what we are doing here is a game-changer,” said BIG3 co-founder, Jeff Kwatinetz. “We are thrilled to partner up with Bill and have the MyDoge and Dogecoin communities be represented by the Aliens. We have made history with this transaction, and we hope it inspires others in the Doge world to support the team whether by purchasing the Gold- Tiers, by attending games, or by tuning in.”
These NFT deals are part of a new BIG3 ownership model announced earlier this month that uses blockchain technology to sell NFTs. Lee's team will also use Dogecoin and integrate the MyDoge wallet so players, coaches, and teams can get Dogecoin tips on Twitter. In addition, Aliens will feature MyDoge/Dogecoin on team jerseys, events, and broadcasts.
“While others are buying NFT images of apes and owls, I believe that NFTs with utility are the next frontier. It is a dream to own a basketball team and the BIG3 is shifting the NFT game by offering ownership rights such as licensing/IP, team voting/management, and merchandising,” said Lee. “The Doge Army and I look forward to making Dogecoin the people's currency while helping our team hoist the championship trophy. I can't think of a better NFT experience than that today.”
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.