Brooklyn Nets star guard Spencer Dinwiddie has entered the NFT space and it’s for a good cause.
Dinwiddie, Co-founder of Calaxy and creator of K8IROS clothing and accessories brand, will issue the first non-fungible token (NFT) linked to a physically redeemable collectible, his signatured, game-worn K8IROS “crypto sneakers” in partnership with SUKU’s Infinite marketplace.
The auction for the K8IROS “crypto sneakers” is scheduled for July 22.
According to a press release obtained by EBONY, the K8IROS “crypto sneaker” NFT will be “auctioned as a 1:1 redeemable for the physical collectible and the signed K8IROS sneaker NFTs will be sold as a raffle, with the owners entered into a chance to win one of the signed shoes.” All proceeds will benefit the Dinwiddie Family Foundation.
Besides being one of the stars on the rise in the NBA, Dinwiddie, a self-proclaimed “tech guy with a jumper,” has shown incredible business acumen as a venture capitalist. Following his passion for tech, entrepreneurship, and community service, the NFT collaboration with SUKU has been a long time in the making.
“This NFT drop has been in the works for a while, so I’m really excited to see it come to fruition. This can change the game for brands, athletes, and influencers by paving the way for how NFTs can be verifiably linked to actual physical collectibles,” Dinwiddie said about the drop.
Yonathan Lapchik, CEO of SUKU, expressed his excitement about collaborating with Dinwiddie on the one-of-a-kind shoe.
“Spencer Dinwiddie is using his platform as an athlete and futurist to spread awareness on the true potential of NFTs, and we’re incredibly excited to be partnering with him on his K8IROS crypto sneaker NFT drop,” Lapchik said. “By leveraging SUKU’s carbon-negative INFINITE Marketplace, Spencer is showing the world how brands and influencers can bring physical collectibles and merchandise to the digital realm while helping the planet.”
All profits from the K8IROS sale will go to the Dinwiddie Family Foundation which provides programming for disadvantaged youth. The foundation aims “to cultivate the next generation of diverse leaders through the Dinwiddie Scholars program, which provides educational scholarships in partnership with the United Negro College Fund (UNCF), America’s largest and most effective minority education organization.”
With this launch, Dinwiddie hopes to make an impact on the lives of the young Black kids that his foundation serves so that they may dream beyond their circumstances.
“This entirely new way of bringing physical collectibles into the digital universe, as mediated by SUKU and Hedera, sets us up to redefine the creator economy as we know it,” Dinwiddie said. “With all profits going to my foundation, I hope this helps level the playing field for kids and allows them to reach their full potential.”