- Spencer Dinwiddie’s contract fundraise has started slowly, with only $1,010 of $24 million raised after 48 hours
- Dinwiddie has said he will sign for a publicly voted team if the equivalent of ₿2,625.8 is raised
- Dinwiddie’s contract raise comes after he tried to tokenize his current contract back in 2019
Spencer Dinwiddie’s contract fundraise has got off to a slow start, with a little over ₿0.1 of the required ₿2,625 raised so far. Brooklyn Nets guard Dinwiddie claimed on Twitter last week that if the dollar equivalent of ₿2,625.8 was raised he would sign for a publicly voted team on a minimum term contract when his current contract expires in 2021, but so far no Bitcoin whales have put their money where their affiliations lie.
I’ll double down. Y’all crowdfund 2625.8 btc I’ll sign a minimum contract for my next deal with the team that y’all vote for 🤣
I’ll give y’all a month to make it happen lol https://t.co/pV8vGyW0s8
— Spencer Dinwiddie (@SDinwiddie_25) May 14, 2020
Dinwiddie Sets Up GoFundMe Page to Collect Funds
Dinwiddie, a known Bitcoin and cryptocurrency fan, made the surprising and unique suggestion Friday when discussing how much Bitcoin it would take for him to leave social media. After saying that ₿1,000 would be enough for him to pack up and leave social media, he escalated the odds by giving fans a month to raise $24,632,630, setting up a GoFundMe page to make the offer official:
Dinwiddie added that if the target is not met then he will donate all the proceeds to charity, and with only $1,010 raised after 48 hours it seems that the Spencer Dinwiddie contract fundraise is more likely to benefit charity more than any of the 30 teams in the NBA that would compete for his signature.
Not Dinwiddie’s First Crypto Venture
Spencer Dinwiddie’s contract fundraise is not his first foray into cryptocurrency entrepreneurialism, having offered to securitize his $34 million 2020 contract on the blockchain, but his plan was blocked for contravening securities laws. Dinwiddie calls himself “Just a tech guy with a jumper” in his Twitter bio, suggesting that these ideas are not simply flashes in the pan and that Bitcoin can look forward to more such attention grabbing activities in the future.
