Spencer Dinwiddie is will release the tokenize part of his contract, which is worth $34.36 million.
As reported by Coinnounce, the tokens will be available for purchase on Monday, October 21st. the NBA player has decided to launch the project despite the opposition raised by the NBA. The NBA says the project violates the league's collective bargaining agreement.
Dinwiddie caught a lot of attention recently when he announced his plans to tokenize part of his $34.36 million contract and offer it to the investors. The National Basketball Association defined the proposal as a violation of the league’s collective bargaining agreement (CBA), which states that “no player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract.” Dinwiddie obviously feels his token offering does not violate any of the collective bargaining agreements.
This article is not intended to be financial advice. As always, do your due diligence before investing, and never invest more than you can afford to lose.