BIG3’s move is so on point—sold the NFTs, then cashed out the team; holders directly turned into ticketing users. They’re playing the Web3 narrative perfectly.

Rapper Ice Cube's founded 3-on-3 league BIG3 is facing a class-action lawsuit from NFT investors. The plaintiffs allege that the team ownership, management participation, and future profit-sharing rights promised in the 2022 Ethereum NFT sales were not fulfilled, causing losses to investors. After BIG3 sold four teams in 2024 for approximately $40 million, it did not distribute proceeds to original NFT holders, instead downgrading their status to regular ticket holders. The league responded that the plaintiffs violated the confidential arbitration clause and plans to go public through a SPAC with a valuation of about $290 million.