love_sharpei retweeted
shoutout to @udontknowjack88 and @thefanmilwaukee for breaking down the ownership battle within @thebig3.
are nft owners being sidelined?
listen now 👇🏻
audacy.com/podcast/the-fan-o…
love_sharpei retweeted
Big 3 Ownership NFTs were supposed to grant profits when a team is sold. Founded by Ice Cube, there league owes $16 million USD to NFT holders.
So how is the league avoiding paying money owed to NFT holders?
#basketball #NFTCommunity
youtu.be/l66xoMNhZVo?si=WpxU…
The league seems to be acting now like the tokens we purchased were ‘just nfts’, when the Big3 actually coined a new term for them: FEAT, or Forever Experience Action Token. They stressed ownership at the Fire level a lot. My lanyards from games say ‘owner’.
per @thebig3 website, “fire nft owners could also benefit significantly in the future should a big3 team be sold through traditional means. if a team sale is approved in the future by the league, a majority of owners, and a majority of fire nft owners for that team, then the fire nft holders will collectively receive 40% of the team sale price.”
love_sharpei retweeted
Is greed really a good thing?
The @thebig3 basketball league hasn't payout the $16 million owed to @BIG3Ownership NFT holders.
love_sharpei retweeted
This is my favorite league in the world....i hope this gets worked out, as i as hoping to purchase one of those ownership NFT's..... – at San Diego, CA
🚨Big3 NFT Controversy Sparks Investor Outrage 🚨
The Big3, a 3-on-3 basketball league founded by Ice Cube, is facing intense backlash over its handling of NFT-based team ownership. In 2021, the league sold NFTs representing partial ownership of its 12 teams, promising investors voting rights and revenue sharing. However, recent developments have left NFT holders feeling misled and sidelined.
In March 2025, the Big3 announced a shift to a city-based model, launching eight new teams and selling four franchises—Miami, Los Angeles, Houston, and Detroit—for approximately $10 million each. Meanwhile, the original NFT-owned teams were placed on indefinite "hiatus" without prior notice or consultation with investors. This move has rendered the NFTs’ promised benefits, like governance and profits, effectively void.
Posts on X (Formerly Twitter) reflect the growing frustration. User @Bitcoin2Gold expressed anger, stating the league excluded NFT holders from recent franchise sales and failed to communicate plans. Another user, @joe4deadcat, called it a potential "crypto scam," accusing the Big3 of failing to honor ownership commitments. The league, including leadership like Ice Cube and Jeff Kwatinetz, has yet to address these concerns publicly.
Investors are demanding answers, and the silence from the Big3 is amplifying skepticism. Follow this story for updates, and share your thoughts below. #Big3 #NFTs #Basketball
love_sharpei retweeted
Hoping some communication is coming soon from @thebig3 about the future of teams put on “hiatus” and what happens to NFT holders associated with those teams. NFT holders are the biggest fans of the big3. Wondering happens as teams are sold off @JeffKwatinetz and @icecube
RT @PatrickandPPL: 🚨Big3 NFT Controversy Sparks Investor Outrage 🚨
The Big3, a 3-on-3 basketball league founded by Ice Cube, is facing int…
love_sharpei retweeted
Biggest Crypto Scam Unfolding?
TLDR: The upstart professional basketball league called @thebig3 used NFTs / crypto to sell shares of its teams to unaccredited retail investors.
Using sleight of hand, the league has failed to honor the ownership rights promised, which currently amount to a $160,000 payout PER NFT!! Understandably, NFT holders are not standing by and are ready to fight (see below).
🏀How did we get here?
The league sold 1000 NFTs per team, amounting to 40% ownership comprised of NFT holders. Some of these NFTs minted for $25,000 - the Fire Tier - and gave special ownership perks to holders (some of whom are celebrities or well-known within crypto circles).
One such ownership perk is a proportional profit if their team has been sold. That means $160k per Fire NFT, of which 25 exist per team. The other 975 were Gold Tier and cost $5,000 coming with lesser perks.
🏀The damage done?
Since the NFT mint, the league sold 4 teams at $10 million dollars each. This totals $40 million USD of which 40% was promised to the Fire Tier NFT holders. This amounts to $16 million USD amongst 100 NFTs, which supports the $160,000 figure above.
🏀How did the league avoid paying?
Instead of allowing teams to be directly sold to new owners, the league simply put existing teams on "hiatus" and sold expansion teams not affiliated with the aforementioned NFTs.
This NFT leaves holders out of the transaction, essentially screwing them over.
🏀What now?
This seems to be the rug of all rugs. Imagine paying $25,000 for an NFT backed by a legitimate company, only to have that token rendered useless by the issuing entity.
Not to mention, profits stolen by that entity!
🏀But wait, there’s more!
Sources tell me that NFT owners have been in communication and will mount a response - a very public response. Legal action is also on the table. This could have major implications for NFT holders, platforms, and launchpads if courts affirm that the NFTs are, in fact, ownership tokens.
✅Bookmark this tweet and be sure to check the links below for more context...
🎙️If you are part of this battle and would like a public platform to explain your position, please reach out and I will be happy to oblige on my channel.
love_sharpei retweeted
6/ We were called owners.
But apparently, that’s changed.
Why no clarity on hiatus teams?
What utility is left, just seats?
After everything we?
Teams are being sold, and it’s crickets for us including contractual agreements.
I doubt the new owners even know we exist.
love_sharpei retweeted
3/ We even won the championship last year. And now? We’re just… gone.
On hiatus. No word. No vote. No recognition.
Veterans ask me what’s next for this season—and I had plans. I wanted to do more. I was planning to teach a veteran benefits workshop tied to a game weekend.
love_sharpei retweeted
2/ As a veteran and a minority, I invested in a Fire NFT. Not for perks—but because I believed in the vision. For me Bivouac wasn’t just a team. It’s a military term—a temporary camp without cover.
For us, it symbolized resilience, grit, and survival. We identified with that team
love_sharpei retweeted
1/ Quoting this because it speaks volumes.
I didn’t get into @thebig3 as a sports fan.
I joined because I saw a chance to build something meaningful for our veterans, a space to connect, belong, and believe in a bigger mission.
love_sharpei retweeted
7/8
I want to believe in the BIG3’s mission and vision, but transparency is crucial—especially for those of us who invested early based on the commitments made 💯