A prominent crypto enthusiats Spencer Dinwiddie tokenizes his National Basketball Association (NBA) club contract for the love of cryptocurrencies.
For those who don’t know, Dinwiddie professional basketball player from the United States who plays for the Brooklyn Nets is getting into a new game. Previously, he expressed his love for Bitcoin and stated that he has several ideas, but he cannot express them, as he has not started those yet.
Now, he is getting started. Being a crypto enthusiast for quite some time, Dinwiddie is planning on tokenizing his NBA contract.
Dinwiddie tokenizes contract
Reportedly, Dinwiddie would be converting his contract that is worth thirty-four million dollars ($34m) into a crypto token over a period of three years. Moreover, he is planning to start his company that would securitize his contracts into digital form and that would enable him to receive lump-sum payments.
My guy @SDinwiddie_25 is turning his NBA contract into a tokenized investment vehicle.
Bang Bang….Welcome to the future 🔥https://t.co/tO4S90Wp1r
— Pomp 🌪 (@APompliano) September 13, 2019
Dinwiddie could lose some income in the future in exchange for the total amount by securitizing his contract. However, the NBA player will have more money for investments, immediately.
Meanwhile, Dinwiddie is not the only professional player who promotes Bitcoin. Los Angles Chargers left tackle Russell Okung changed his Twitter account to “Pay Me in Bitcoin”.
Pay me in Bitcoin.
— Russell Okung (@RussellOkung) May 14, 2019
Moreover, Matt Barkley of NFL’s quarterback requested his payments from different teams in the form of Bitcoin.
NFL Quarterback @MattBarkley tried to get the San Francisco 49ers and Cincinnati Bengals to each pay his contracts in Bitcoin.
Neither would do it.
Matt is just one of many Bitcoiners that are playing in the NFL on Sundays 🔥🔥
— Pomp 🌪 (@APompliano) May 14, 2019
Since an increasing number of sports players are getting serious about investments, the hype regarding Bitcoin and the tokenized contracts is likely to increase.