Dinwiddie Leads Crypto Charge, Tokenizes His NBA Contract

Dinwiddie Leads Crypto Charge, Tokenizes His NBA Contract

 

Brooklyn Nets point guard Spencer Dinwiddie just announced his plans to tokenize his latest NBA contract to broaden his investment options now. | Credit: Wendell Cruz-USA TODAY Sports Brooklyn Nets point guard Spencer Dinwiddie is playing a different kind of game. Last year, in a story about his love for bitcoin , Dinwiddie told Bleacher Report , “I got a lot of ideas. But I can’t give it all to you because I haven’t even started them yet.” He’s starting now. Dinwiddie, who’s been a long-time crypto enthusiast, is planning to tokenize his NBA contract. A New Kind of Contract

According to Shams Charania of The Athletic, the NBA player will convert his contract, worth $34 million over three years, into a digital token. He plans to start his own company which will “securitize” his contract into digital form and allow him to receive a lump sum payment. Charania said Dinwiddie will likely receive less than the total amount upfront. My guy @SDinwiddie_25 is turning his NBA contract into a tokenized investment vehicle. Bang Bang….Welcome to the future