Snoop Dog, Paypal Co-Founder Ken Howery, and Gary Vee Latest to Purchase All 25 Fire-Tier NFTs for Bivouac BIG3 Team
Snoop Dogg, the iconic rapper and Mt. Westmore member, and Ken Howery, the co-founder of PayPal and successful venture capitalist, have teamed together to buy 25 Fire-Tier versions of Bivouac, obtaining ownership-like value and utility in the team.
BIG3, a 3-3 basketball league founded by rapper Ice Cube, debuted in 2017. Ice Cube has just chosen to sell tiered BIG3 NFTs for each of the league's 12 clubs. Exclusive rewards include event experiences and partial IP rights with certain NFTs.
The BIG3's NFT collection's "fire-tier NFTs" are the most valuable. Whoever possesses these NFTs has the most influence over a chosen team's direction. Fire-tier NFT holders might submit new merchandise designs for BIG3's approval in addition to championship rings and voting rights.
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. In addition to that, entrepreneur Gary Vaynerchuk also joined in on Friday, purchasing 25 Fire-Tier versions of the Triplets' 2019 championship-winning team.
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 appear in the film.
There are 12 teams in the league. People can also invest in NFTs to own a piece of the team (non-fungible tokens).
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—acquires majority ownership of the NFTs, they can influence team decisions, choose the team's CEO or president, and do things like design team merchandise and contact with league officials.