Tech entrepreneur and TRON founder Justin Sun will be sponsoring the shoes of Basketball star Spencer Dinwiddie this season, according to a recent Twitter post by the Brooklyn Nets guard.
The Tweet announced that Sun, the chief executive of the TRON Foundation and BitTorrent, will pay 0.1 bitcoin per game (8.2BTC over the season - worth around $66,000) for Dinwiddie's game-worn sneakers, which will go to youth charities.
This year Id like to announce an endorsement with @Tronfoundation and @justinsuntron. 8.2btc (.1btc/game) for my 2019/2020 game worn shoes. And in the essence of transparency I pledge that same 8.2btc to charity! This will allow us to continue to expand our mission to help youth!— Spencer Dinwiddie (@SDinwiddie_25) September 27, 2019
Tokenization Refused by NBA
The announcement came just hours after the National Basketball Association (NBA) blocked Dinwiddie from tokenizing a portion of his earnings on the Ethereum network to raise $13.5 million in advance on his three-year contract - worth a total of $35 million.
However, the NBA said on Friday that such a scheme would violate the sports association's rule that states "no player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract".
Sun famously paid $4.6 million at a charity auction in June to attend an annual charity lunch held by Berkshire Hathaway chief executive and third-wealthiest person in the world Warren Buffett. Having cancelled on the scheduled lunch date due to kidney stones, Sun's meeting with the 89-year-old billionaire has yet to be rescheduled.
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