The globally known rapper and actor Ice Cube’s BIG3 basketball league is re-launching its Ethereum NFT team stakes.
The public mint process for the thousands of team NFTs on May 8 was delayed due to technical issues, so the league then opted to hold the launch and regroup.
Anyhow, BIG3 announced today that it will carry on with the mint on June 10 and amplify the newly-rebranded, entry-level NFTs by including further benefits for holders.
“We pulled back and said: Well, this gives us time to rethink our Gold tier and make sure that it’s juicy enough for the kind of buyer who really may not see the long-term play in this. This is a long-term play. That’s what we want buyers to understand,” Ice Cube said to sources.
The “Forever Experience Action Token” (FEAT) is an Ethereum NFT which replaces the preceding Gold-tier team ownership tokens. All of the league’s 12 teams have 975 FEAT NFTs costing at $4,500 per NFT.
The Gold NFTs that were already sold during the paused mint previous month will also be considered as FEAT tokens with the additional features in tow.
The new drop of the enhanced FEAT tokens is on June 10 and the BIG3 will launch batches of tokens, commencing with 375 NFTs for each team initially.
The Gold-tier NFTs holders currently have benefits such as VIP tickets to all BIG3 live games, rare team merchandise, voting on some club decisions, access to calls with Ice Cube as well as league officials, among others. The FEAT upgrade will add more to the equation.
FEAT buyers will be enabled to choose the team they want to buy into, which was not offered in the initial mint. Moreover, there will be randomly-awarded upgrades to the teams’ Fire-tier NFTs, which will sell for $25,000 apiece including additional benefits.
FEAT owners will have access to license-free league media as well as an option to use it to create their own content.
The league will also permit the collectors to swap five FEAT tokens for a “BrushFire” token, which according to the league will operate like a Fire-tier NFT with almost all of the added benefits.
BIG3’s official Discord server explained on Friday, that BrushFire tokens will not enable holders to vote on team leadership roles, which include CEO, President, and Vice President. Only the ‘Fire NFTs’ holders will be permitted to have a say in those decisions.
BIG3 is utilizing Ethereum NFTs to decentralize team ownership, and this initiative has already got major investors’ attention. Recently, Snoop Dogg and Ken Howery revealed plans to buy all 25 Fire-Tier editions of the Bivouac BIG3 team. It has attracted other investors too such as Gary Vaynerchuk and NFT communities like Moonbirds and DeGods.
As most of the Fire-tier NFTs are bought by major investors and communities, Ice Cube stated that BIG3 wants to offer an alternate way for individual fans to join specific teams at a greater level with almost all of the same perks included.
It could also boost secondary market sales eventually as people would think about buying extra FEAT tokens to make the jump up.
Also Read: DeGods DAO Acquires Basketball Team Killer 3s in BIG3 League
BIG3 will eventually release 975 total FEAT tokens across multiple ways for each of the 12 teams. That sum includes upgraded Gold-tier NFTs that were bought during the previous drop attempt.
Ice Cube hopes that the communities and creators will have an immediate positive effect on the league’s momentum as well as exposure.
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