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Welcome back to The Breakdown.

It is Monday, January 13th, and today is a narrative watch around income share agreements

tokenization and the hunt for crypto's killer app.

So this was inspired by the fact that today is the launch of Spencer Dinwiddie's tokenized bond

for his NBA contract. So Spencer Dinwiddie plays for the Brooklyn Nets. He has been working

to tokenize his contract for months now. And after tons of negotiation and really kind of

unfortunately a neutering of what he was going

for, he has been able to push forward a tokenized bond on Ethereum that represents something

really interesting in the context of how fans might relate to athletes.

And just we think about the way that people participate in the success of others around

them.

The other part of this, though, is that on this morning's Masari Newsblast, Ryan Selkis

wrote about why income sharing agreements might be an early contender, one of the contenders

over the next few years, for a killer app for crypto. So today I'm going to talk about what killer apps are, this specific context of income

share agreements and Spencer Dinwiddie, and then finally we're going to look at some

other contenders for quote crypto's killer app, specifically Bitcoin.

And we're going to ask about whether in, the killer app is not these aboveboard mass

adoption use cases, but the simple ability to use a non-debassable non-state money in situations

where otherwise you would be hamstrung by the local political or economic reality.

So that's what we're going to do today.

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