Kawhi Leonard – ‘KaWhi Wait'?
Blockstation has recently announced Kawhi Coin (referring to Kawhi Leonard). This is a security token that will be distributed to investors in the #KaWhiWait movement – an STO to be hosted by Blockstation, themselves.
The purpose of this STO has two simple goals.
- Entice Kawhi Leonard to re-sign with the Toronto Raptors this summer
- Provide investors and basketball fans with an opportunity for a financial return.
Beyond these goals, MLSE will benefit from retaining a transcendent talent, and fans benefit through the continued dominance of their favourite team.
The Finer Details
The event is structured to appeal to Kawhi Leonard based on a simple idea – money is worth more today than it is tomorrow.
While Kawhi will receive a max level contract where he goes, these funds will be paid out to him over the course of many years. This STO will see the vast majority of his contract value paid out immediately, upon re-signing with the Raptors.
When paid out over time, these are years that this money could have been ‘working for Kawhi’. Five years-worth of growth on roughly $150 million through investments is nothing to scoff at. Growth that would not be seen outside of Blockstation’s offer.
While the numbers have not been locked in, Blockstation has provided an example for an expected ROI to be seen by investors. Simply put, a portion of the money from Kawhi’s contract will be routed to investors, giving them a, roughly, 4% annual ROI. In this situation, while Kawhi will receive slightly less money overall, he will be able to more than make up for it by gaining years of growth through his own investments.
Kawhi Leonard – Why the Fuss?
Despite many players demanding max-level contracts within the NBA, very few possess the talent to truly warrant one. Often, players receive these contracts due to a lack of other options, and perceived potential. Kawhi Leonard is neither of these. Kawhi is a #1 option that has proven his merit. He is the player you prioritize, and the ‘other option’ that teams wish they had.
Just recently, LA Clippers head coach, Doc Rivers, commented on Kawhi, stating, “He is the most like [Michael] Jordan that we’ve seen…Like, there’s a lot of great players. LeBron [James] is phenomenal. KD [Kevin Durant] is phenomenal. But not that he is Jordan or anything like that, but he is the most like him. Big hands. Post game. Can finish. Great leaper. Great defender. In-between game. If you beat him to the spot, bumps you off. Then you add his 3-point shooting.”
Check out a recent article by the ‘raptors rapture’, to learn more about his dominant performances.
We the North
The Toronto Raptors are a Canadian basketball team that maintain a nationwide fan base. While the team is in the midst of their first trip to the NBA finals, this team has been one of the most successful in the league for more than 6 years running.
Between the absence of another Canadian team, a dedicated fan base, and year after year success, one would assume that the Raptors have garnered the respect of the media. This, however, is not the case, as many within the U.S media continue to write off the Raptors, and refuse to believe they are a destination that players want to call home. #KaWhiWait has set out to change that perception, and entice a special talent into staying for the long haul.
In an effort to draw attention to the cause, Jai Waterman, CTO of Blockstation, released a short video describing this unique event.
With this entire event structured around keeping, arguably, the world’s best basketball player in Toronto, it should come as no surprise that this is where Blockstation calls home. The company has called the capital of Ontario home since being launched in 2015.
Blockstation utilizes modern services and solutions which allow for traditional exchanges to trade digital assets in a regulatory compliant manner.
Company operations are overseen by President, Marko M. Hafez.
A Positive Light
Whether #KaWhiWait is successful or not (or serious for that matter), it should still be lauded for two reasons.
- Introducing Security Token Offerings to a rabid fan base which stretches across an entire nation.
- Bringing awareness of both the culture behind the Raptors, and the dominance they and Kawhi have exhibited over the past several years.