a16z Podcast New Fan Engagement Models for Athletes and Influencers
May 26, 2020
Spencer Dinwiddie, an NBA player for the Brooklyn Nets, discusses his groundbreaking platform that allows fans to invest in his earnings through blockchain technology. This conversation highlights the evolution of fan engagement, focusing on how social media reshapes athlete-fan dynamics. Dinwiddie, along with tech expert Jeff Jordan and crypto pioneer Jesse Walden, explores innovative investment models, the impact of cryptocurrencies in sports, and the future of community ownership in athletics, all aimed at creating deeper connections with fans.
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Player Power
- Spencer Dinwiddie recognizes the power dynamic in the NBA, with players as the core asset.
- He aims to leverage this power by creating a platform, Fanchise, that allows fans to invest directly in his revenue potential.
Fan Ownership Precedent
- Jeff Jordan points out the Green Bay Packers as a precedent for fan ownership in sports.
- This model, where fans own a piece of the team, demonstrates a successful example of fan engagement.
NBA's Resistance to Innovation
- The NBA initially resisted Dinwiddie's platform due to concerns about liability and disruption of the power dynamic.
- Dinwiddie argues that embracing innovation is crucial for the NBA's long-term survival and fan engagement.