Who would have thought that sports and crypto would mix so well? Spencer Dinwiddie – a guard for the Brooklyn Nets – has announced a new bitcoin-based crowdfunding campaign that will allow his fans to choose which team he plays for next.
Spencer Dinwiddie Is Looking for Crypto Help
Dinwiddie first came to the bitcoin scene last year when he announced he wanted to allow people to invest in his basketball contract. While the league he played with raised an eyebrow or two over the idea, Dinwiddie was convinced that the money he would earn – if invested in crypto – would allow him to garner much more than what his initial NBA contract would pay out.
In addition, all those who invested or held a stake in his contract would earn interest, and thereby make money themselves. He’s now turning to bitcoin to complete his “free agent” dreams. He’s setting up a GoFundMe account and is asking that his fans pledge as much as $24.6 million in bitcoin. Once this goal is hit, they’ll be able to choose which team he plays for next. He’ll sign a one-year contract as a free agent with the decided team.
However, if this goal is not met or if the player comes up short in any way, Dinwiddie has sworn that he will donate all the money to charity.
As it stands, Dinwiddie cannot be a free agent until after the 2020 – 2021 season comes to an end. In a statement, he explained:
Shoe companies and endorsers influence team decisions all the time. My/ our biggest endorsers will always be the fans, so I want to have some fun with this while we’re all under quarantine. I hope no owners/ team personnel participate so there’s no impropriety on this one-of-a-kind endorsement deal.
Dinwiddie is clearly a man who doesn’t like being told what to do. As his statement makes clear, endorsing companies influence the decisions that occur for teams and their respective players, which means that decisions made are more designed to please sponsors rather than individuals. This explains why nobody in the league can get involved in the funding campaign. Only the fans. The campaign must remain neutral.
Can People Do This Right Now?
At the same time, Dinwiddie mentions that everyone is under quarantine, which creates something of a dilemma. Many people are likely worried about their own jobs and financial situations right now, so to ask for nearly $25 million from people at home during a time when money is extremely tight and unemployment is at an all-time high raises some serious red flags.
Furthermore, it’s unclear if the team that fans wind up choosing for Dinwiddie will even want him. They need to agree to the player’s presence on the team, and there’s also a chance that the league will go after Dinwiddie for violating CBA rules, so there’s no way to predict what may happen.