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:
Tonya Evans (Widener University Commonwealth Law School) – Moderator
Darrell Mottley (Banner Witcoff)
Shontavia Johnson (Drake University Law School)
Kevin Jordan (JP Morgan Chase)
Summary – Our panelists will discuss a variety of hot topics and recent developments in patent, trademark, and trade secret law, including:
The internet of things as an emerging technology/industry, and related IP and regulatory issues
Intersection between the First Amendment and Section 2(a) of the Lanham Act regarding registration of immoral, scandalous, or disparaging trademarks, including the impact of trademark cases
Overview of trade secret law and its viability as an alternative means of IP protection
CLE Info: The NBA IP Law Section is looking into obtaining CLE accreditation in the following jurisdictions: CA, GA, IL, NY, TX, and VA. For questions regarding CLE accreditation, please contact Bill Barrow (wbarrow[at]mayerbrown.com).
Cost: This webinar is free for NBA IP Law Section members and costs $30 (plus processing fees) for non-members.
The National Bar Association is hosting an interactive writing workshop for first year law students at Drexel University School of Law for students in the PA/DE/NJ/NY area. This is an excellent opportunity to network and improve your writing skills. Highly recommended.
For more information contact the program coordinators: Tomika N. Stevens at (215) 861-8328 or firstname.lastname@example.org orMonté Squire at (302) 571-6630 or email@example.comRSVP by October 16, 2010 to firstname.lastname@example.org or email@example.com