The legendary West Coast rapper joined with entrepreneur Ken Howery to purchase the Bivouac team.
The BIG3 basketball league is poised to welcome Snoop Dogg and Ken Howery, the co-founder of PayPal and a former US Ambassador, into its ownership family. On Friday, Boardroom confirmed that the duo is buying into the 3-on-3 competition by acquiring the Bivouac team outright as part of the BIG3’s innovative program that allows investors to obtain equity the league through the purchase of specially designated NFTs.
“The BIG3 is on the leading edge of enabling blockchain technology as utility,” said Howery in a release. “The league’s embrace of NFTs as ownership rights is both visionary and practical; key features of every smart investment.”
To be clear, Snoop is no stranger to the world of sports. The rapper turned businessman and entertainer still has his Snoop Youth Football League and has served as a guest commentator for numerous sporting promotions, including the UFC and the world of boxing. Additionally, Snoop joined esports giant FaZe Clan in March as a content creator while also serving as a member of the company’s board of directors.
Get on our list for weekly sports business, industry trends, interviews, and more.
It is no surprise Snoop jumped at the opportunity to own a team considering he’s been outspoken in the past about the lack of Black owners in the NFL and NBA, telling the New York Times last year, “it’s time to change the world. We’ve got to stop treating Black people like they’re less… Like, why don’t we have an owner in an NFL? That’s just racist. Period, point-blank. We need an NFL team. We got one half owner in the NBA, Michael Jordan. But the whole league is 90% Black.”
“We are absolutely thrilled to have Snoop, Ken, and their communities on board with the BIG3,” said BIG3 co-founder Ice Cube in a release. “Having someone with Ken’s knowledge and experience wanting to be a part of our league demonstrates that we are moving in the right direction. Snoop is an undisputed legend who has jumped headfirst into the Web3 space and clearly understands the importance and the value of what we are trying to create. Together, I know they will take Bivouac to new heights and we can’t wait to get started.”
But the Doggystyle rapper is not the only person interested in owning a team in the BIG3. The announcement comes after investor and entrepreneur Gary Vaynerchuk — also known as Gary Vee — also purchased a team earlier Friday morning. The NFT community DeGods previously purchased the Killer 3’s team too.
The new ownership movement comes after the league announced it would use blockchain technology to sell shares in its teams.
These NFT deals are part of the BIG3’s new model of ownership announced last month which leverages blockchain technology to sell NFTs offering ownership-like benefits via two-tier options comprising 12,000 editions – 1,000 for each of the league’s twelve teams that include 25 Fire priced at $25,000 each, and 975 Gold priced at $5,000 each.
The remaining editions drop this weekend at 11 a.m. ET on Saturday, May 7, for select Discord members and opens to the public at 11 a.m. ET on Sunday, May 8.
Investors who do decide to purchase stakes in teams receive:
- VIP tickets to all games
- A percentage of a future team sale
- First rights to expansion teams
- Access to team practices, parties, coaches, players, and referees
- Monthly participation in calls with Ice Cube, fellow BIG3 co-founder Jeff Kwatinetz, and league commissioner Clyde Drexler
- Fire-Tier, the highest class of ownership, additionally includes contains intellectual property and licensing rights to team names and logos
And with the BIG3 unable to partner with the NBA in a way that is similar to the NFL and XFL’s partnership, the league has moved in a different direction, now focusing on bringing owners who are eager to help take the league to new heights by embracing its
BIG3 is the official creator of the new global sport, FIREBALL3, the league is returning for its fifth season on June 18 with coverage live across CBS and Paramount+. Known as the league that focuses on innovation, the BIG3’s 2021 season saw notable new changes and experiences, including the addition of the “Bring the Fire” rule allowing teams one challenge per half determined by an in-game one-on-one.
Get on our list for weekly sports business, industry trends, interviews, and more.
