NBA Halts Basketball Star Spencer Dinwiddie’s Plan To Tokenize His Contract

Published Date
October 14, 2019

Last week the story about Spencer Dinwiddie’s idea to tokenize his contract with the NBA’s Brooklyn Nets seemed brilliant. He would create a security token allowing him to offer a portion of his contract ($34.4 million) for an upfront cash “advance.” By monetizing his contract he would thus receive a lump-sum payout allowing Dinwiddie to seek other potential investments immediately. In fact Dinwiddie planned to work with other NBA players to create their own tokens as well. However, the powers that be — the NBA — said NO!

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