The California rap legend has reportedly purchased a minority stake in BIG3 basketball league team Bivouac.
Snoop Dogg Buys Ownership Stake in BIG3 Team
The Doggfather became a part-owner of the BIG3 team Bivouac, which plays in Ice Cube's three-on-three basketball league.
The Big3 has been a successful 3-on-3 basketball league since its inception during the summer of 2017. Ice Cube and Jeff Kwatinetz founded the league five years ago, and it features many big names in leadership positions including former NBA star Clyde Drexler as commissioner and former Raiders CEO Amy Trask as Chairman of the Board.
According to TMZ, Snoop and PayPal co-founder Ken Howery combined to pay $625,000 for a 40 percent stake in the team.
Snoop and Howery’s purchase were made exclusively through NFTs.
“We are absolutely thrilled to have Snoop, Ken, and their communities on board with the BIG3,” Cube said in a statement. “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.”
Howery added that he is excited to bring his knowledge of blockchain to this new venture.
“The BIG3 is on the leading edge of enabling blockchain technology as utility,” Howery said. “The league’s embrace of NFTs as ownership rights is both visionary and practical; key features of every smart investment.”
The news comes on the heels of Ice Cube and Snoop posting a video on Twitter last month in which Snoop said he was going to buy "a couple" of teams:
BIG3 has had four seasons since 2017 with the 2020 season getting canceled due to the COVID-19 pandemic.
Last season, Bivouac went winless, but with Snoop's backing and a roster that includes former NBA players Josh Smith and Will Bynum, they will look to get back on track in 2022.
The 2022 BIG3 season will officially kick off on June 18.