Nets Player On Pace for Jan. 13 Tokenized Bond Launch
Cointelegraph By Benjamin Pirus's original article for cointelegraph.com reduced by 76%
Spencer Dinwiddie of the NBA's Brooklyn Nets will launch his tokenized security offering on Jan. 13, in collaboration with digital securities company Securitize, after reportedly settling terms with the NBA."The Spencer Dinwiddie bond launches January 13th," Dinwiddie said in a Jan. 10 tweet, adding, "I'll also be taking 8 fans to ASW with me." Dinwiddie's developed his token, SD8, under his company, SD8 LLC.Essentially, Dinwiddie planned to sell his SD8 bond tokens on his DREAM platform in exchange for millions of dollars from his contract, worth $34 million in total, Forbes contributor Shlomo Sprung detailed in an October 2019 article.
Although Dinwiddie's tweet shows he is still moving forward with his bond launch, the NBA's response reveals the league is still looking into how the tokenized operation applies to the league's guidelines.
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