Well at least now it has a name. Spencer Dinwiddie’s investment vehicle will be known as SD8 coins .., and despite NBA continuing disapproval, he plans to start selling them Monday.
According to Shlomo Sprung, writing for Fobes, here’s how the unconventional plan will work.
On Monday, the 26-year-old will launch his blockchain-based investment platform DREAM Fan Shares, where he’ll sell 90 bond-like SD8 coins— what DREAM is calling Professional Athlete Investment Tokens— that will allow him to collect a large chunk of his guaranteed three-year, $34 million contract up front.
While the NBA thinks the plan is a violation of the CBA, Dinwiddie says, essentially, it’s his money, his contract.