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

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In accordance with an announcement revealed on Thursday, Spencer Dinwiddie’s token utility referred to as Calaxy has raised $7.5 million in funding. The American skilled basketball participant for the NBA’s Brooklyn Nets has been a fan of blockchain know-how for fairly a while, as the purpose 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 utility Calaxy raised $7.5 million in funding based on statements despatched to Bitcoin.com Information. The capital elevate introduced this week stemmed from a deal that concerned the acquisition of future CLXY tokens.
Spencer Dinwiddie’s Calaxy App goals to be the “first social media tremendous app designed for creators, by creators.” The financier Solo Ceesay is Calaxy’s COO and cofounder who stated he noticed a possibility in making a platform that helps monetize a web-based group.

Calaxy leverages the enterprise-grade blockchain community Hedera Hashgraph, a mission backed by corporations like IBM and Google. The Calaxy platform will leverage a local token referred to as “CLXY.”
Calaxy goals to supply interactive polls, messaging, video calls, and the power for followers to interact with influencers like sports activities stars and musicians. The identify Calaxy is a play on the phrases “creator” and “galaxy.”
On the time of writing, Calaxy is in personal beta and the primary public model of the applying shall be prepared within the close to future. The app shall be accessible on Google Play and Apple’s App Retailer and folks can signal as much as request early entry to the general public beta to get a key.

Spencer Dinwiddie had a token sale of his contract hosted on the Ethereum blockchain final 12 months. The sale of Dinwiddie’s tokenized contract raised $1.3 million which was solely a tenth of what the mission hoped to promote ($13.5 million).
Dinwiddie’s NBA contract was tokenized by leveraging Dream Fan Shares (DFS), nonetheless, the NBA star is leveraging Hedera Hashgraph over Ethereum as a result of it boasts the next transaction throughput.
The purpose guard for the Brooklyn Nets initially informed the press he would tokenize his contract in 2019 however the NBA threatened to finish his contract. Regardless of this, Dinwiddie continued his mission and has been a proponent of blockchain know-how ever since.

What do you consider Spencer Dinwiddie’s and Solo Ceesay’s Calaxy social media utility elevating $7.5 million in funding? Tell us what you consider this topic within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Calaxy

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