NBA player plans to tokenize his own contract.
Spencer Dinwiddie, a Brooklyn Nets player in the United States professional basketball league, the NBA, will turn his current contract with the team into a personalized token for his investment. This was reported by Shams Charania, a journalist for The Athletic specializing in the NBA market.
Charania explained through a note in the sports sector that the substitute base of the Nets would receive from the New York team an advance of the total of his new contract, which amounts to USD 34.36 million in three years. The amount to which the advance of that contract would correspond is unknown. What the report does expose is that the player would be giving up some amount of the total, as part of the agreement with the team.
The report does not clarify in which blockhain the token would be issued nor the conditions of distribution of it among its investors, although it does highlight the text is that the investment would be backed by the remaining amount that the Brooklyn Nets must pay, as part of the contract with this NBA player for the next three seasons.
In the words of Charania, Dinwiddie seeks to turn his own contract into a tokenized investment vehicle, something unprecedented in the NBA and sports in general. The journalist also wonders if this jump of the NBA player to the use of a token as a means of income, will be the first of a new wave that changes the vision of future contracts in the basketball league.
Dinwiddie has become a recognized bitcoin enthusiast in the sports environment recently. During an interview with the specialized media Bleacher Report, the player announced that he had ideas regarding his passion for cryptocurrencies, although he could not advance anything, having not even begun to develop them.
In the same text of Bleacher Report, one of his teammates, Trevor Booker, stated that Dinwiddie was pushing his interest in bitcoin to the limit. Even in the middle of the games, the athlete followed the development of the market. To the point that Booker said he was tired of hearing him talk about bitcoin.
The NBA has begun paying attention to bitcoin and the use of cryptocurrencies recently, after since 2014 the Sacramento Kings were the first team to accept payments in BTC to their fans. Previously, the Californian team joined the mining of ethers for charitable purposes.
Now, the Dallas Mavericks of the same NBA confirmed that they would accept bitcoins as a means of payment for products and box office for their matches. To do this, they will use the BitPay BTC payment platform, the company confirmed via Twitter.
This happened, paradoxically, after the Dallas team owner manifested his position against bitcoin, comparing cryptocurrency with gold and highlighting his hatred of precious metal.
Not only has the NBA started to pay more attention to bitcoin. In English football, for example, on September 12, Watford FC announced that the bitcoin logo would be present in its kit for the current season, as part of a pro bitcoin campaign that they carry out in a partnership with the bookmaker in Sportsbet.io line.
Shortly before, the Spanish football league made public its intention to create its own token. Its intention is to provide greater dynamics to sports tourism, especially targeting fans of the Asian market and the Middle East.
To initiatives with cryptocurrencies or blockchains, teams such as Atlético Madrid or Real Madrid, from Spain, have also been added; the Arsenal of England and South American clubs, such as the Peñarol of Uruguay and several clubs of Brazil. Also figures as boxer Manny Pacquiao.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.