The latest development in professional basketball player Spencer Dinwiddie’s efforts to tokenize his NBA contract has been the launch of a Gofundme campaign to try to raise the cash equivalent of 2,625.8 Bitcoins (BTC), worth approximately $24.6 million at the close of this edition.
Dinwiddie launched the campaign, oddly titled „Dinwiddie X BTC X NBA,“ supposedly to affirm his „commitment to [his] previous tweets“ by offering fans the opportunity to choose which NBA team they would go to in exchange for the value of their Bitcoin contract.
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However, the new campaign is asking for the cash equivalent of the Bitcoin Future – Bitcoin Loophole – Bitcoin Profit – Bitcoin Investor – Bitcoin Machine it previously requested, giving the $24.63 million fundraiser little connection to Bitcoin.
If it doesn’t succeed, Dinwiddie claims that 100% of the money raised will go to an undisclosed charity.
Since the campaign’s launch 11 hours ago, Dinwiddie’s bizarre fundraiser has raised $690 from 65 donors.
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In September 2019, Dinwiddie first announced his intention to extend his NBA contract by $34 million, but the offer was framed as an opportunity for investors to receive principal and interest.
Although many sports organizations have tried to establish partnerships with crypto-cash companies to provide fans with Tokenized star performances in recent months, few initiatives seem to have taken off.
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Last month, billionaire investor and owner of the NBA’s Dallas Mavericks, Mark Cuban, revealed that since the relaunch of Bitcoin as an option for fans to buy tickets and merchandise in August 2019, the team has received a measly $130 at BTC.