A few weeks ago, the Big3 Basketball League announced its NFT-for-ownership scheme where investors buy NFTs that confer ownership to holders, and it has been a success so far
Big3: NFTs as the funding tool of the future
The Big3 basketball league is an initiative by Ice Cube and a consortium of investors; the league offers a semi-professional and professional Basketball experience to viewers. The league is doing many things differently, including the fact that teams field three players on the court instead of the standard five players.
The league has had its fair share of success based on the pedigree of its founders and the team’s marketing efforts. A few weeks ago, the Big3 Basketball League decided to expand ownership of its team publicly for the first time, and in true 2022 fashion, the team behind the league chose NFTs as the investment tool of choice.
Last week, we reported on how the largest commercial transaction in Dogecoins history took place recently when the founder of MyDoge wallet spent $600,000 in Dogecoin to invest in 25 Fire-Tier NFTs offered by the Big3 Basketball League.
Today’s piece focuses on how more celebrity NFT investors have chosen to invest in the Big3 Basketball League’s NFTs. After all, is said and done, we cannot deny the fact that the NFT fundraising strategy has been a success for the league.
How will the success of the Big3 Basketball League’s NFT strategy affect and influence the future of fundraising?
New Celebrity Investors
Last Saturday, Ice Cube announced that the 25 Fire-Tier NFTs for his Big3 Basketball League team known as Tri-State were purchased by a consortium of tech entrepreneurs. The consortium includes big names such as Vinny Lingham, Sunny Deep, and Kevin Rose.
Additionally, as part of the deal, Moonbirds, an NFT collection by Kevin Rose featuring 10,000 pixelated owls, will be the community sponsor behind the purchase. Ice Cube shared the following via his official Twitter account,
The weekend got more exciting as Snoop Dogg, and PayPal co-founder Ken Howery partnered to invest in all 25 Fire-Tier edition NFTs of Bivouac, a Big3 team. Like the weekend could not get more exciting, Gary Vaynerchuk, a viral internet entrepreneur, invested in all 25 Fire-Tier NFT editions of the Big3 team, Triplets.
What can we expect from Big3 Basketball?
Ice Cube and the team behind the Big3 Basketball League have shown that they are not shy about embracing new technologies, and almost weekly, we learn news about the company that supports its commitment to the Web3 space.
Last month, Ice Cube and the Big3 management team shared that the league will utilize Ethereum to fractionalize ownership of the league’s franchises. Ownership of the majority of NFTs in a Big3 team gives the holder control of the team with the ability to make executive decisions.