Spencer Dinwiddie of the Brooklyn Nets skilled basketball staff is reportedly planning to tokenize his $34 million NBA contract extension.

Following a three-year $34 million NBA contract extension, Dinwiddie is reportedly going to promote digital tokens tied to the contract, whereby traders within the providing would obtain principal and curiosity, Fox Enterprise reported on Sept. 14.

NBA progressively embraces crypto 

Dinwiddie thus joined different NBA gamers engaged with digital foreign money. In August, the Dallas Mavericks turned the second NBA staff to just accept Bitcoin (BTC) as a method of fee for match tickets and merchandise. Again in 2014, the Mavs’ rivals, the Sacramento Kings, turned the primary NBA staff to just accept Bitcoin for promotional merchandise in addition to for tickets.

Additionally that month, the NBA and its affiliated union — the Nationwide Basketball Gamers Affiliation — partnered with Dapper Labs of CryptoKitties-fame to launch a brand new crypto collectibles sport. Followers will purportedly be capable of collect dwell footage of NBA video games that may then be utilized in some capability to construct a competing roster for the sport.

The opposite facet of the coin

With the elevated adoption of digital currencies, some athletes have change into concerned in cryptocurrency-related schemes. In mid-August, information broke that legendary American skilled boxer Mike Tyson was spearheading a brand new blockchain-based leisure platform for fighters dubbed Combat to Fame.

Nevertheless, Tyson subsequently denied the information, claiming Combat to Fame to be a fraudulent scheme.

Earlier this yr, the USA Securities and Alternate Fee fined American boxer Floyd Mayweather and music producer DJ Khaled for selling Centra Tech’s preliminary coin providing on social media. The entire quantity to be paid by DJ Khaled comprised $152,725, whereas for Mayweather it was $614,775.

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