At $34 Million Tokenize Contract, NBA Player Spencer Dinwiddie

According to reports, Spencer Dinwiddie of the Brooklyn Professional Basketball Team (Brooklyn Nets) plans to sign a $34 million contract with the NBA.

Reportedly to Fox Business, on September 14, after a three-year extension of the NBA contract for $ 34 million, Dinwiddie intends to sell digital tokens tied to the contract, with investors receiving capital and interest on the offer.

Spencer Dinwiddie, therefore, joined other cryptocurrency NBA players. In August, the Dallas Mavericks became the second NBA team to accept Bitcoin (BTC) to pay for matches and goods. In 2014, Mavs Sacramento Kings rivals became the first NBA team to accept bitcoins to pay for tickets and promotional products.

Also, this month, the NBA and its subsidiary, the National Basketball Association, teamed up with Dapper Labs of CryptoKitties, known to launch a new crypto collectible game. It is understood that fans will be able to collect videos about NBA games, which can then be used to create a rival list for the game.

With the increasing use of digital currencies, some athletes have participated in cryptocurrency programs. In mid-August, it became known that the legendary American professional boxer Mike Tyson was the initiator of a new entertainment platform based on blockchain for fighters, voiced by Fight to Fame.

However, Tyson subsequently denied the news, saying that the “Fight for Glory” is a fraudulent scheme.

Earlier this year, the U.S. Securities and Exchange Commission fined U.S. boxer Floyd Mayweather and music producer DJ Khaled for promoting Centra Tech’s initial coin offerings on social media. The total amount DJ Khaled was supposed to pay was $152,725, and for Mayweather $614,775.