$ 53,983
$ 2,387.1
$ 257.33
okex ads

Spencer Dinwiddie Sees Reject by NBA as He Plans to Tokenize His Contract

The NBA told Brooklyn Nets player Spencer Dinwiddie on Friday that he will not be permitted by the league to tokenize his contract, per a report in the New York Times

Join the fastest growing network on Telegram

Earlier this week, Dinwiddie had shared plans with multiple news outlets of creating an $D8 token that would see the player sell a portion of his contract to accredited investors in $150K or larger allocations. The “tokenized security” would be backed by Dinwiddie’s contract and pay back the principal amount plus a few percentage points of interest. 

The player had planned to issue a security token on the Ethereum blockchain and raise between $4.95 million and $13.5 million in the offering. The token structure was novel in that it had the potential to pay more than the base amount of the contract if Dinwiddie achieved certain performance thresholds and was either paid bonus money or secured a new free agent contract of significant value.

The sale of shares in future pro athlete earnings has been attempted in the past by companies such as Fantex, which sold shares of multiple athletes including the NFL’s Vernon Davis and Alshon Jeffery. However, Dinwiddie’s deal would have been the first pro athlete contract issued on the public Ethereum blockchain.

About the author

A Nice Man

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Orion Protocol Introduces the First Aggregator Terminal for NFTs
April 21, 2021By
CourageJD Wins $100,000 In Bitcoin After 100T Uno Tournament
April 21, 2021By
Tezos (XTZ) welcomes Ubisoft to the ecosystem as a corporate validator
April 21, 2021By


Video Posts

Opportunities In Blockchain and Crypto Space
April 21, 20210
Blockchain-Based Solution For Security And Scalability For Any Business
April 9, 20210

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin53,983 0.37 % 3.87 % 14.05 %
Ethereum2,387.1 0.57 % 3.12 % 1.75 %
Binance Coin544.28 1.46 % 7.28 % 0.50 %
Tether0.9966 0.12 % 0.63 % 0.30 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.200 1.16 % 4.48 % 17.70 %
XRP1.300 1.13 % 6.05 % 29.31 %
Uniswap34.02 1.55 % 8.26 % 5.68 %
Litecoin257.33 0.96 % 1.69 % 7.65 %
Chainlink36.46 0.23 % 4.93 % 11.63 %