NBA player Spencer Dinwiddie has finished the token sale of his contract that is hosted on the Ethereum blockchain. The sale of Dinwiddie’s tokenized contract raised $1.3 million which was only a tenth of what the project hoped to sell ($13.5 million).
Even though the Brooklyn Nets guard Spencer Dinwiddie put a lot of energy into getting his NBA contract tokenized, the basketball player only got 10% of what they hoped to raise.
Essentially, Dinwiddie’s NBA contract was tokenized by leveraging Dream Fan Shares (DFS), a system built on Ethereum that claims to “empower athletes, artists, and influencers to take control of their financial destiny by structuring debt securities.”
Regulatory filings show the team hoped to sell Spencer Dinwiddie’s contract for $13.5 million worth of 90 available tokenized contract shares. However, the token sale only sold eight token SD26 shares worth $150,000 which created the $1.3 million raise.
Dinwiddie is a fairly…