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Snoop Dogg and Gary Vee Are the Most Recent Celebrities to Purchase Ethereum Ownership NFTs in Ice Cube’s BIG3 Hoops League

Ice Cube’s BIG3 basketball league collection is quickly selling out of NFT ownership.

Ice Cube stated on Saturday that a group led by IT entrepreneurs Sunny Deep, Vinny Lingham, and Kevin Rose had purchased the 25 Fire-Tier NFTs for his BIG3 squad Tri State. The community sponsor for the purchase will be Moonbirds, Rose’s NFT collection of 10,000 pixelated owls, according to Ice Cube.

Snoop Dogg and PayPal co-founder Ken Howery also bought all 25 Fire-Tier versions of the BIG3 squad Bivouac this weekend.

It doesn’t stop there: entrepreneur Gary Vaynerchuk joined in on Friday, purchasing 25 Fire-Tier versions of the Triplets’ 2019 championship-winning team.

So, what is the big deal? In 2017, Ice Cube founded the BIG3 league, which is quite different from the NBA: Teams are not assigned to cities, and games are three-on-three rather than five-on-five. Former NBA players Rashard Lewis and Amar’e Stoudemire are a part of them.

Ice Cube, an NFT aficionado, didn’t want to stop there. He said last month that he will fractionalize ownership of the league’s franchises using Ethereum.

It operates like this: There are 12 teams in the league. People can also invest in NFTs to own a piece of the teams.

Each team has 1,000 NFTs altogether, divided into two tiers: 25 “Fire” NFTs at $25,000 each and 975 “Gold” NFTs worth $5,000 each.

When a person—or an organization—gains majority ownership of the NFTs, they can influence team decisions, appoint the team’s CEO or president, and do things like design team apparel and contact with league officials.

Ken Howery declared that “the league’s embrace of NFTs as ownership rights is both visionary and practical; key features of every smart investment.”

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