NBA player Dinwiddie tokenizes his NBA contract

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.

 

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”.

 

Moreover, Matt Barkley of NFL’s quarterback requested his payments from different teams in the form of Bitcoin.

 

Since an increasing number of sports players are getting serious about investments, the hype regarding Bitcoin and the tokenized contracts is likely to increase.

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