NBA rejects basketball player Spencer Dinwiddie's request for tokenization

According to The Block, Brooklyn Nets basketball player Spencer Dinwiddie is building his own encryption company and trying to convert his at least $34.36 million renewal contract into a digital token. The NBA rejected the request, saying it would not convert his contract extension into a digital token investment vehicle. The NBA said: "According to the contract, players are not allowed to transfer their rights to receive compensation from the team to any third party."