Billionaire Mark Cuban says Dallas Mavericks Looking For Ways to Turn NBA Tickets into NFTs
The “Shark Tank” investor says smart contracts and NFTs are currently in a “hype cycle,” and though we haven't seen the business applications yet, “we will.”
The billionaire owner of Dallas Mavericks, Mark Cuban, is planning to turn the tickets for the American professional basketball team’s games into the latest mania in the town, non-fungible tokens. Cuban said on The Delphi Podcast,
“We're trying to find a good up option for turning our tickets into NFTs, and we want to be able to find ways you know so that not only can our consumers, our fans buy tickets and resell them, but we continue to make royalty money on them.”
According to him, the market is currently in the hype cycle, much like the 2017 one for Bitcoin BTC -8.45% Bitcoin / USD BTCUSD $ 36,557.17
-$3,089.08-8.45% Volume 42.95 b Change -$3,089.08 Open $36,557.17 Circulating 18.94 m Market Cap 692.26 b 3 w SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 3 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum , Ethereum ETH -10.76% Ethereum / USD ETHUSD $ 2,607.59
-$280.58-10.76% Volume 27.34 b Change -$280.58 Open $2,607.59 Circulating 119.26 m Market Cap 310.98 b 3 w Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 3 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022 , and Initial Coin Offerings (ICOs). Now, it’s the same with smart contracts and NFTs, he said.
“It's a hype cycle again, but each hype cycle is also educational, and there's people who are going to make money and lose money in each of them, but it becomes the platform for the next layer, the next level. So with NFTs, we haven't seen the business applications yet, but we will.”
Recently, the “Shark Tank” investor also said that he is developing an online art platform called Lazy.com, an easy way for users to show their digital art and collectibles.
“The NFT market is on fire,” said Cuban, who sold one of his motivational quotes, “Nobody ever changed the world by doing what everyone else was doing” as an NFT for $1,700 worth of cryptocurrency a few weeks back.
During his recent appearance on Delphi Digital’s podcast, Cuban also reiterated how Bitcoin is a store of value, a better alternative to gold, and is taking money from the precious metal, which is all “phenomenal” and “awesome.” This is going to continue, and that's why he owns BTC and why he never sold any.
However, that's not really where it compares to the internet but rather when the internet started seeing all these applications that could disrupt things that happened in the analog world, and we see it with smart contracts.
It started with smart contracts, then ICO, and then more and more applications came along, and they became more prevalent and more accessible, and that created DeFi and NFTs.
The fact that they're decentralized and that there's no one in charge, and the governance is completely different, that's what changed the game, he said.