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

Cryptocurrency

By Yes Mobile

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

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

In line with an announcement revealed on Thursday, Spencer Dinwiddie’s token software 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 expertise for fairly a while, as the purpose guard raised $1.three million tokenizing his contract on the Ethereum blockchain.

Hedera Hashgraph-Powered Calaxy Raises $7.5 Million

The NBA star Spencer Dinwiddie’s token software Calaxy raised $7.5 million in funding in keeping with statements despatched to Bitcoin.com Information. The capital increase 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 mentioned he noticed a chance in making a platform that helps monetize a web based group.

Calaxy leverages the enterprise-grade blockchain community Hedera Hashgraph, a undertaking backed by companies 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 flexibility for followers to have interaction 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 can be prepared in the close to future. The app can be obtainable on Google Play and Apple’s App Retailer and other people 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 yr. The sale of Dinwiddie’s tokenized contract raised $1.three million which was solely a tenth of what the undertaking hoped to promote ($13.5 million).
Dinwiddie’s NBA contract was tokenized by leveraging Dream Fan Shares (DFS), nevertheless, the NBA star is leveraging Hedera Hashgraph over Ethereum as a result of it boasts a better transaction throughput.
The purpose guard for the Brooklyn Nets initially instructed 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 expertise ever since.

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


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Yes Mobile
Yes Mobile is the senior mobile blog writer and technology expert. Our aim provides the best information about mobile technology and latest mobile prices in Pakistan new mobile news video reviews issues etc. And how to use software easy ways. and much more.

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