{"id":9029,"date":"2021-07-01T23:54:06","date_gmt":"2021-07-01T23:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/nba-star-spencer-dinwiddies-crypto-fueled-social-media-app-raises-7-5-million\/"},"modified":"2021-07-01T23:54:06","modified_gmt":"2021-07-01T23:54:06","slug":"nba-star-spencer-dinwiddies-crypto-fueled-social-media-app-raises-7-5-million","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/nba-star-spencer-dinwiddies-crypto-fueled-social-media-app-raises-7-5-million\/","title":{"rendered":"NBA Star Spencer Dinwiddie\u2019s Crypto-Fueled Social Media App Raises $7.5 Million"},"content":{"rendered":"

According to an announcement revealed on Thursday, Spencer Dinwiddie\u2019s token application called Calaxy has raised $7.5 million in funding. The American professional basketball player for the NBA\u2019s Brooklyn Nets 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.<\/strong><\/p>\n

Hedera Hashgraph-Powered Calaxy Raises $7.5 Million<\/h2>\n

The NBA star Spencer Dinwiddie\u2019s token application Calaxy<\/a> 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.
\nSpencer Dinwiddie\u2019s Calaxy App aims to be the \u201cfirst social media super app designed for creators, by creators.\u201d The financier Solo Ceesay is Calaxy\u2019s COO and cofounder who said he saw an opportunity in creating a platform that helps monetize an online community.<\/p>\n

Calaxy leverages the enterprise-grade blockchain network Hedera Hashgraph<\/a>, a project backed by firms like IBM and Google. The Calaxy platform will leverage a native token called \u201cCLXY.\u201d
\nCalaxy aims to offer interactive polls, messaging, video calls, and the ability for fans to engage with influencers like sports stars and musicians. The name Calaxy is a play on the words \u201ccreator\u201d and \u201cgalaxy.\u201d
\nAt the time of writing, Calaxy is in private beta and the first public version of the application will be ready in the near future. The app will be available on Google Play and Apple\u2019s App Store and people can sign up to request early access to the public beta to get a key.<\/p>\n

<\/p>\n

Spencer Dinwiddie had a token sale<\/a> of his contract hosted on the Ethereum blockchain last year. The sale of Dinwiddie\u2019s tokenized contract raised $1.3 million which was only a tenth of what the project hoped to sell ($13.5 million).
\nDinwiddie\u2019s NBA contract was tokenized by leveraging Dream Fan Shares (DFS), however, the NBA star is leveraging Hedera Hashgraph over Ethereum because it boasts a higher transaction throughput.
\nThe point guard for the Brooklyn Nets initially told the press he would tokenize his contract in 2019 but the NBA threatened to end his contract. Despite this, Dinwiddie continued his mission and has been a proponent of blockchain technology ever since.<\/p>\n

What do you think about Spencer Dinwiddie\u2019s and Solo Ceesay\u2019s Calaxy social media application raising $7.5 million in funding? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nBlockchain, $7.5 million, Brooklyn Nets, Calaxy, Calaxy App, Capital raise, CLXY token, contract, Financing, Funding, Hedera Hashgraph, NBA Spencer Dinwiddie, Social Media, social media super app, Solo Ceesay, Spencer Dinwiddie, Spencer Dinwiddie NBA, tokenization, Tokens<\/p>\n","protected":false},"excerpt":{"rendered":"

According to an announcement revealed on Thursday, Spencer Dinwiddie\u2019s token application called Calaxy has raised $7.5 million in funding. The American professional basketball player for the NBA\u2019s Brooklyn Nets 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…<\/p>\n","protected":false},"author":0,"featured_media":9030,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9029"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9029"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9030"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}