Dinwiddie will securitize his NBA contract as a digital token, sources told The Athletic. The extension would bring him more than $34 million over a three-year period, but sales of the digital token would allow him to raise a significant portion of that sum upfront.
Sports Illustrated legal analyst and UNH Franklin Pierce School of Law Professor Mike McCann, wrote an in-depth article about Dinwiddie’s move to tokenize his contract and transform it into an investment contract represented by cryptographically-secured security tokens.
McCann aptly notes the” details of Dinwiddie’s idea are intricate and rely on terminology unfamiliar to many, explaining further that, “[t]he larger picture centers on a much more relatable concept: athletes identifying new ways to maximize their earnings during relatively short and one-injury-away-from-abruptly-ending careers.”
I added my thoughts about Dinwiddie’s application of Web 3.0 technology to a familiar desire of professional athletes to create multiple revenue streams that outlast the short span of their earning potential in the pros:
Of course, we cannot help but discuss whether the Libra hearings had a positive or negative effect on the crypto ecosystem and some hurdles to mainstream adoption and proliferation of stablecoins.
The Future of Innovation
In my second panel, Preparing for the Next Wave of Innovation we will discuss whether the future of blockchain is the future of all technology. This discussion will examine the changes in funding structures, innovation, and the evolution of how society organizes itself. From enterprise to decentralized ecosystems, we will discuss how blockchain is likely to evolve to become a part our everyday life and what is needed to get there. I will focus on the impact of blockchain and crypto on education, especially higher ed, and the impact of education on blockchain and crypto.
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