Brooklyn Nets' Dinwiddie to tokenise NBA contract

18 Sep 2019

By: Sport Industry Group

Brooklyn Nets player Spencer Dinwiddie is planning to become the first player to convert his NBA contract into a digital token.

The move would see the player sell tokens tied to his $34m, three-year contract with the Nets and receive most of his money up front rather than have to wait for it to be paid over the course of the three years.

Digital securities would be sold by investors, who would receive their principal investment as well as interest back over the course of the three years.

The decision to tokenise the contract and receive anywhere up to the full $34m up front would allow Dinwiddie to invest his earnings straight away rather than wait, theoretically earning an extra three years’ worth of interest in the process.