Tuesday, June 6, 2023

Iconic rapper Ice Cube joins the Dogecoin bandwagon

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Ice Cube (O’Shea Jackson Sr), an iconic rapper, has joined the Dogecoin bandwagon endorsing an “incredible and historical” DOGE transaction. His entry into the Dogecoin world is closely related to the BIG3, a basketball league he co-founded. 

BIG3 features former NBA stars in a three-on-three formation as opposed to the usual five-on-five basketball games.

Last month, BIG3 launched a new ownership league model which allows each of the 12 teams to sell their tokenized stakes. Each team is allocated 1000 Non-Fungible Tokens (NFTs) that is, 975 ‘’Gold’’ NFTs worth $5,000 each, and 25 ‘’Fire’’ NFTs at $25,000 each.

On Wednesday, Bill Lee, MyDoge wallet co-founder, tweeted to Ice Cube “if ya dig DOGE, me and the DogeArmy will take one as well,” referring to Ice Cube’s previous post that Snoop Dogg was purchasing two teams.

Replying to Lee, Ice Cube tweeted “come on wit it Bill, you know i’m down with the DogeArmy.

Although it’s not clear how serious Ice Cube is with the DogeArmy, BIG3 on the same day announced in a press release that Lee bought all the 25 ‘’Fire’’ NFTs worth $650,000 (4.86 million DOGE) for the ‘’Alien’’ team using DOGE.

Ice Cube described this as an ‘’incredible and historical ‘’ transaction while BIG3 called it the “largest commercial transaction in history” of DOGE.

The ‘’Fire’’ NFTs signify utility benefits and the higher end of ownership like voting rights, names, game management, merchandise, and licensing rights for team logos or voting rights and intellectual property. Additionally, if the owner sells their ‘’Fire’’ NFT, they get a 40% sale cut-off.

In an announcement, Lee also delved into the NFT projects slightly saying:

“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.”


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