Spencer Dinwiddie took to Twitter saying he was disappointed by the NBA’s decision to block his proposed digital investment vehicle.
Dinwiddie was referring to the basketball league’s move to block his plan to tokenize and sell shares in his contract citing policy violation, as BeInCrypto has previously reported on. The Brooklyn Nets star contradicted NBA’s take on the issue hinting that there might have been a misunderstanding on the league officials’ part, adding he was open to mutually resolving the issue.
Dinwiddie’s Blockchain Initiative in Sports & Entertainment
Dinwiddie announced Thursday that he was planning on tokenizing a part of his contract with the Brooklyn Nets on the Ethereum blockchain. The objective behind the proposed venture was to raise an additional $13.5 million from his three-year contract.
Dinwiddie signed up with the Nets for a $35 million contract, of which $16 million will be released at the end of the first year. Read More...