In brief
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$117,601.00
3.89%$2,992.52
6.79%$2.82
13.37%$696.44
3.41%$164.17
3.33%$0.99986
0.01%$0.212491
15.00%$0.303157
4.03%$2,991.59
6.82%$0.74006
13.82%$46.18
8.08%$117,461.00
3.93%$3,609.09
6.75%$3.48
2.37%$0.378821
26.97%$536.96
5.65%$15.75
7.98%$21.25
7.49%$0.200195
11.16%$9.01
-0.97%$0.00001378
7.91%$3,206.34
6.77%$97.36
5.41%$2.99
3.58%$2,992.42
6.79%$0.999649
-0.01%$46.68
0.07%$1.001
-0.11%$4.04
8.85%$329.79
1.59%$117,677.00
4.07%$0.00001294
12.56%$1.001
0.02%$8.84
7.52%$4.50
0.46%$307.56
1.12%$0.491517
0.50%$397.64
9.24%$5.02
6.90%$2.61
7.64%$0.100904
5.54%$1.18
-0.00%$5.54
5.82%$49.27
1.40%$0.911789
5.25%$199.71
3.57%$18.82
5.52%$1.00
0.00%$0.089714
9.51%$0.349281
15.97%$1.00
0.00%$4.77
8.06%$0.02514585
8.24%$1.059
0.01%$0.236242
11.51%$0.629983
5.50%$0.417565
12.18%$10.33
8.63%$0.227727
14.03%$3.78
8.37%$16.34
0.68%$0.745428
4.68%$4.46
0.10%$1.092
11.34%$0.338309
19.34%$2,992.36
6.59%$2.65
6.02%$0.00002308
1.85%$0.082621
-0.06%$117,414.00
3.86%$115.59
3.26%$1.71
11.37%$4.75
2.28%$174.06
3.11%$0.505116
9.63%$11.50
2.44%$0.999732
0.02%$0.997855
0.22%$0.02298959
21.72%$3,137.15
6.75%$3,410.64
6.86%$1.99
14.31%$1.00
0.08%$1.32
9.63%$4.59
34.15%$1.27
1.57%$12.90
14.07%$0.749847
82.01%$0.690048
12.24%$0.373409
13.96%$0.074076
0.62%$0.01706408
4.06%$0.770915
8.06%$1.78
6.48%$3,197.04
7.12%$3,145.78
6.82%$1.00
-0.01%$1.024
2.81%$3,154.70
7.02%$1.00
-0.09%$0.099753
7.80%$0.00010126
6.75%$117,499.00
3.88%$0.519413
10.70%$1.11
-0.05%$117,350.00
3.99%$11.97
-0.52%$3,350.54
0.89%$0.160027
3.91%$697.12
3.20%$118,620.00
5.48%$3,228.82
6.64%$0.64354
11.38%$0.559317
5.41%$0.999284
-0.05%$2.53
5.28%$184.61
3.60%$3,350.27
1.16%$0.820587
8.54%$214.79
3.48%$0.01778282
11.45%$0.869948
8.10%$2.85
11.28%$0.194419
11.89%$22.51
8.24%$0.01506607
11.92%$0.296163
7.64%$111.75
0.01%$10.74
0.01%$43.49
5.19%$0.120633
10.65%$1.99
6.15%$0.806883
7.96%$0.998159
-0.03%$2,988.36
6.71%$4.07
5.07%$46.24
8.11%$0.00000171
27.81%$0.00000067
5.03%$0.25018
7.36%$3,197.72
6.98%$0.610681
6.54%$1.092
0.49%$3,159.54
7.14%$2,994.04
6.87%$0.387163
8.05%$0.00917772
1.72%$117,232.00
3.90%$117,468.00
4.03%$0.314542
8.78%$0.01723922
21.40%$0.54502
13.34%$0.997729
0.01%$0.058176
9.42%$0.413324
2.66%$0.562792
8.24%$3.03
19.88%$117,613.00
3.99%$1.72
3.75%$1.56
7.76%$0.998798
-0.00%$0.546837
35.37%$0.682858
6.14%$0.212461
14.74%$0.150819
18.23%$26.83
4.71%$46.34
8.37%$0.999801
-0.02%$2,993.43
6.84%$0.098197
18.01%$0.999677
0.03%$0.00492719
7.85%$0.00829784
6.77%$0.633158
8.81%$1.001
-0.02%$0.431556
5.81%$0.223819
0.28%$3,184.51
6.40%$48.11
4.76%$0.999806
-0.00%$1.20
5.92%$6.37
6.86%$0.00000045
1.71%$1.42
10.61%$15.64
7.13%$7.78
0.21%$0.062146
1.35%$0.316911
41.62%$3,300.83
6.78%$0.361788
9.73%$6.55
11.64%$0.171358
1.56%$0.059205
13.77%$0.00002134
6.97%$2.55
8.44%$0.00454856
9.85%$1.011
2.22%$1.093
-0.05%$1.70
8.67%$117,358.00
5.71%$0.155988
4.41%$0.04112115
6.80%$0.556861
5.09%$3,274.64
6.87%$0.99871
-0.13%$2,988.69
6.81%$0.082981
17.04%$0.00722029
7.17%$2,992.29
6.84%$0.376462
9.47%$0.378913
9.81%$0.999861
-0.02%$0.914178
17.80%$0.03679068
4.28%$1.23
3.67%$2,989.32
6.78%$117,382.00
4.13%$0.00006466
5.50%$0.534722
4.82%$0.01839208
4.34%$179.65
3.43%$0.763609
5.28%$21.06
1.86%$0.236226
11.61%$128.37
6.83%$1.23
4.31%$3,613.85
6.53%$11.35
5.16%$0.999759
-0.01%$0.00383992
7.63%$0.771424
4.87%$0.00370868
11.40%$0.319467
7.51%$0.999613
0.04%$0.00453816
8.56%$1.001
0.06%$21.27
7.54%$25.88
7.67%$0.999739
0.02%$0.66957
7.60%$0.0304176
8.05%$1.00
0.02%$117,718.00
3.70%$2,359.35
3.80%$3,134.76
6.61%$6.87
6.07%$0.114355
8.58%$1.02
0.01%Blame it on COVID: NBA star Spencer Dinwiddie has pulled off the historic sale of tokenized shares in his NBA contract. But the Brooklyn Nets guard only managed to get a tenth of what he was hoping to raise.
Dinwiddie’s security token offering allowed investors to buy a stake in his $34 million NBA contract by purchasing SD26 Ethereum-based tokens. The sale, which closed earlier this month, offered up a total of $13.5 million worth of shares. But, according to an SEC filing submitted today, Dinwiddie only raised $1.35 million from his investors.
Dinwiddie had planned to issue 90 shares (in the form of Professional Athlete Investment Tokens), each worth $150,000, which was the minimum investment accepted in the ICO-like sale. Data from Etherscan, an Ethereum block explorer, shows that only 8 entities participated in the sale, with one entity purchasing two shares.
Tritaurian Capital, which Dinwiddie appointed as his broker in March to oversee the securities offering, declined Decrypt’s request for comment.
Dinwiddie’s STO, which gained considerable hype throughout both the crypto and sports worlds, was devised as a way for the athlete to secure cash on his contract up front, as opposed to waiting on yearly payouts on the guaranteed $34 million.
Much has changed in sports, crypto and the rest of the world since March, however. The coronavirus pandemic has caused unprecedented economic strife in the United States and throughout the world. Dinwiddie himself tested positive for COVID-19, and is not scheduled to participate when the NBA restarts its season at the end of the month.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.