The Dinwiddie Debate: Will blockchain lead to a tokenized future that unlocks new revenue opps for athletes?

By Tonya M. Evans (Nov. 6, 2019)

In September 2019, Brooklyn Nets guard Spencer Dinwiddie announced his plan to convert his employment contract into a tradable financial asset. The Atlantic first broke the story on September 12, 2019.

Market’s Insider reported:

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:

Read the full article here

We know what the NBA said. Hard pass. But what do you think? Are tokenized investment contracts for professional athletes a NO or a GO?