Technology is changing the world and we are seeing digital assets playing a big part in that.
We are still in the very early stages yet the creativity of some individuals is starting to emerge. Over the next couple years, we are going to see a lot of other ideas developed that people are going to try. Some will catch on which will likely provoke even more experimentation.
Crypto-enthusiasts might remember the name Spencer Dinwiddle. He plays in the NBA for the Brooklyn Nets. Earlier in the year he announced that he decided to tokenize his NBA contract. He was the first major athlete to make this announcement, one that pitted him against the NBA.
Dinwilddle took his 3 year, $34 million contract and sold tokens against it. They went for $150,000 apiece and were set to pay out dividends over the term of the contract. The NBA did not take kindly to it, viewing it as a form of gambling. Thus, the project was nixed.
Now, the ever resourceful Dinwiddle is doubling down on cryptocurrency. He put out a crowdfunding campaign to raise $24.6 million.
The deal is that, if successful in raising the money, Dinwiddle will sign a one year free agent contract for the NBA minimum with any team the contributors determine.
Dinwiddie explained he’ll sign a one-year, league minimum contract with whichever team wins, to even the playing field and to also allow that team more flexibility to sign other stars.
If the amount of money targeted is not raised, he said he will donate the money to charity.
No word yet if the NBA will approve this project although this one might fall outside their boundaries.
Then we have Alex Masmej. Last month he sold $20,000 worth of shares of himself by putting out the $ALEX token. This is a token that is held against his future earnings. He will pay out a portion of his income over the next 3 years, capping at $100K.
The potential benefit to token holders is that they could get a 5X return while also realizing an appreciation of the token.
Like Dinwiddle, Masmej is at it again.
Yesterday, he announced a synthetic deepfake of himself where users can program what is said, for the low price of $99. This entitles one to 200 words.
https://decrypt.co/29070/ethereum-tokenized-man-becomes-synthetic-deepfake
While I am not sure why anyone would spend money on this, and certainly I am not promoting the idea to anyone, it does show the creativity that we are starting to spring up. People are developing all kinds of different ways to monetize themselves. Dinwiddle did it, first with a contract, and second with his athletic ability. Masmej is now using his likeness to try and profit. Since he takes 75% of the $99, it is likely a portion of that will be returned to those who bought his token.
The platform that Masmej is utilizing, Althea AI, is taking meme creation to a new level. It allows anyone to stake their DAI which is given to that individual's favorite meme creator.
Using technology, it adds another level.
“Anybody can be a meme creator or developer,” he explained. “The distinction here is that deep learning technology is enabling a new category of content to be created where you can swap [Changpeng Zhao’s] face into a martial arts flick or have Vitalik Buterin sing a song.”
https://decrypt.co/23959/alethea-ai-allows-meme-creators-earn-crypto
The directions we are seeing things going are countless. We are in an era where most ideas can be pursued. The opportunities that people will have over the next few years, in terms of projects they can utilize, is only going to grow exponentially.
Each day the world of cryptocurrency becomes a bigger force.
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