The renowned basketball player, Spencer Dinwiddie, will carry out the offering of his SD8 tokens on Monday, 21 October. The NBA star has decided to go beyond the objections imposed by the association.
Last month, Dinwiddie occupied the spotlight as 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, in contrast, claims that his token offering does not violate any agreements.
If the offering goes as planned, the basketball player will offer 90 SD8 tokens to investors on Monday on his new blockchain-powered investment platform called DREAM Fan Shares. Also, the coins will only be available to qualified accredited investors who fulfill the requirements of the Securities and Exchange Commission (SEC), in addition to other legal standards. The minimum investment amount is $150,000.
It seems like crypto is going mainstream with major sports teams getting into crypto industry just like an italian football team was found promoting bitcoin’s logo.
