According to Decrypt, the 3-on-3 professional basketball league BIG3, founded by rapper Ice Cube, is facing a class-action lawsuit filed by its NFT investors. The plaintiffs allege that when the league sold Ethereum NFTs at prices as high as $25k in 2022, it promised team ownership, management participation rights, and future shares of team sale proceeds through "deceptive and fraudulent" marketing, but ultimately failed to deliver, causing damage to investor interests. The lawsuit states that after BIG3 sold four teams for approximately $40 million in 2024, it did not distribute proceeds to NFT holders as original investors, and downgraded investors from so-called "team owners" to ordinary ticket holders. In response, the BIG3 league refutes this, claiming the plaintiffs violated contractual obligations to resolve disputes through confidential arbitration, and that the league is currently planning to go public through a merger with a special purpose acquisition company (SPAC), with an estimated valuation of around $290 million.