Spencer Dinwiddie is a pro basketball player who describes himself as “a tech guy with a jumper”.
Dinwiddie is the first pro athlete in the major leagues to tokenize his sports contract.
— Spencer Dinwiddie (@SDinwiddie_25) January 10, 2020
How this works is: when you buy his tokens you are actually buying a stake in his professional success at the NBA. Tokens will gain or lose value based on the athlete’s visibility and marketing potential.
He will initially collect U$ 13 million in tokens – part of a U$ 34 million 3 year contract as of January 13, 2020.
There were fierce negotiations between Dinwiddie and the NBA due to legal concerns that Dinwiddie could have been violating NBA’s collective bargaining agreement. Per this agreement ‘no player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract.’.
The token will be negotiated under the SD8 symbol at DREAM Fan Shares.