Spencer Dinwiddie’s token application called Calaxy has raised $ 7.5 million in funding, according to an announcement released Thursday. The American professional basketball player for the NBA’s Brooklyn Nets has been a fan of blockchain technology for quite some time as the point guard raised $ 1.3 million to symbolize his contract on the Ethereum blockchain.
Hedera Hashgraph-operated Calaxy raises $ 7.5 million
- NBA star Spencer Dinwiddie’s token application, Calaxy, has raised $ 7.5 million in funding, according to statements on Bitcoin.com News. The capital increase announced this week came from a deal that included the acquisition of future CLXY tokens.
- The Calaxy app by Spencer Dinwiddie is said to be the “first social media super app that was developed by creators for creative people”. Financier Solo Ceesay is the COO and co-founder of Calaxy, who said he sees an opportunity in creating a platform that will help monetize an online community.
- Calaxy uses the enterprise-class blockchain network Hedera Hashgraph, a project supported by companies such as IBM and Google. The Calaxy platform uses a native token called “CLXY”.
- Calaxy aims to offer interactive polls, messaging, video calls and the opportunity for fans to connect with influencers such as sports stars and musicians. The name Calaxy is a play on the words “creator” and “galaxy”.
- At 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’s App Store, and people can sign up to request early access to the public beta to get a key.
- Spencer Dinwiddie had a token sale of his contract hosted on the Ethereum blockchain last year. The sale of Dinwiddie’s tokenized contract raised $ 1.3 million, which was only a tenth of what the project hoped to sell ($ 13.5 million).
- Dinwiddie’s NBA contract has been tokenized using Dream Fan Shares (DFS), but the NBA star uses Hedera Hashgraph over Ethereum as it has higher transaction throughput.
- The Brooklyn Nets point guard initially told the press it would symbolize his contract in 2019, but the NBA threatened to end his contract. Even so, Dinwiddie continued his mission and has been a proponent of blockchain technology ever since.
What do you think of Spencer Dinwiddie and Solo Ceesay’s Calaxy social media application that is raising $ 7.5 million in funding? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Calaxy
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