Spencer Dinwiddie took a shot at tokenization, but the National Basketball Association blocked him.
The NBA said Friday that Dinwiddie’s plan to pledge part of his contract earnings for a security token offering violates the league’s collective bargaining agreement, according to the New York Times.
“The described arrangement is prohibited by the C.B.A., which provides that ‘no player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract,’” the league said.
Dinwiddie appeared to disagree with the assessment, writing on Twitter, “The architecture by definition is not an assignment lol FUD.”
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