According to reports, a decentralized autonomous organization built on the Solana network called Degods DAO has purchased a Big3 professional basketball team. Big3 is a basketball league crafted by the hip-hop mogul and actor Ice Cube and the league’s games are based on a 3-on-3 basketball tournament style. Recently, the Big3 decided to sell the rights to a team called the “Killer 3s” by using NFT technology.
The DeDAO has acquired a professional basketball team. pic.twitter.com/TgcwKy9tLU
— DeGods (33.3%) (@DeGodsNFT) April 28, 2022
Essentially, the Big3 league decided to sell 25 Fire-tier NFTs for $25K per unit. The NFTs give the owners rights to Killer 3s’ licensing, intellectual property (IP), and league-approved merchandise. Degods DAO acquired the Killer 3s team for approximately $625,000 by purchasing all 25 NFTs tied to the Killer 3s. Degods DAO tweeted about the acquisition on April 28 and shared a video that said: “Now let’s win a f***ing championship.”
Decentralized Autonomous Organizations Continue to Bid on High Ticket Items
Degods DAO follows a number of DAOs buying high ticket items like properties, franchises, NFT collections, and IP rights. For instance, a DAO purchased an unreleased Wu-Tang Clan record called “Once Upon a Time in Shaolin.” Another DAO recently revealed it wanted to purchase fast-food restaurants and a DAO called “Buy the Broncos DAO” tried to raise $4 billion to buy the Denver Broncos. Many attempted purchases have failed, like the Constitution DAO, which tried to buy an old copy of the U.S. Constitution but lost the auction.
Degods is a popular Solana NFT project that has seen 397,300 SOL or $37,234,956 worth of NFT sales volume. The collection has 4.5K owners and the current floor price is $28,162 or 300.5 SOL. “A deflationary collection of degenerates, punks, and misfits. Gods of the metaverse [and] masters of our own universe. Powered by the Solana Blockchain,” Degods’ description on Opensea explains.