Brooklyn Nets’ Guard Spencer Dinwiddie’s Crypto-Fueled Social Media App Raises $7.5 Million; Report

According to a report, Brooklyn Nets’ guard Spencer Dinwiddie’s token appeal called Calaxy has raised $7.5 million in funding.

Dinwiddie has been a fan of blockchain technology for quite some time, as the point guard raised $1.3 million tokenizing his contract on the Ethereum blockchain.

Hedera Hashgraph-Powered Calaxy Raises $7.5 Million

The NBA star Spencer Dinwiddie’s token application Calaxy raised $7.5 million in funding according to statements sent to Bitcoin.com News. The capital raise announced this week stemmed from a deal that involved the acquisition of future CLXY tokens.

Spencer Dinwiddie’s Calaxy App intends to be the “first social media super app designed for creators, by creators.” The angel investor Solo Ceesay is Calaxy’s COO and cofounder who said he saw an opening in building a program that supports monetizing an online community.

NBA Star Spencer Dinwiddie's Crypto-Fueled Social Media App Raises $7.5  Million – Blockchain Bitcoin News

Brooklyn Nets applied for $5.7M grant due to Spencer Dinwiddie’s injury

After season-ending knee surgery for guard Spencer Dinwiddie, the Brooklyn Nets are expected to apply for a $5.7 million disabled player exception which can be used to acquire another player, according to ESPN.

If given, the $5.7 million exception, 50% of Dinwiddie’s salary, will allow the Nets to trade for, sign, or claim on waivers a player for the rest of the 2020-2021 season. Brooklyn would have to clear a roster spot to add a player.

What would have once been a $59 million luxury tax bill this season projects to $31 million now minus the potential use of the DPE.