Billionaire investor Mark Cuban is at the forefront of the wave of interest in blockchain technology, smart contracts, and NFT or non-fungible tokens.
As with the early days of all new technologies, excitement sometimes brings some unique situations,” Cuban told CNBC Make It.
Recently, especially NFT-based artworks are sometimes sold for hundreds of thousands of dollars, but according to Cuban, “As more and more artists enter the auction house, [NFT] Market, it will become more efficient, and pricing will fall. “He said.
NFT is a unique cryptocurrency token used to represent assets, such as digital artwork, music or movies. NFTs can be bought and sold like tangible assets, but because they run on the blockchain, they can track a decentralized digital ledger that records transactions and represents the ownership and validity of the assets.
One of their great benefits is that when the creator̵
For example, if an artist sells his NFT-based artwork, the buyer can purchase the only token representing the asset, and then the authenticity and ownership of the digital art can be proved through the blockchain.
Cuba believes that this is where the value lies. He said: “Technology is real.” “The impact is real and lasting.”
Cuban predicts that NFT will destroy the art, music and film industries.
“[B]Chains, smart contracts and markets will continue to exist. “He said.
Recently, the “excitement” surrounding the NFT market has led to record auctions of artworks – for example, an NFT-based video clip created by artist Mike Winkelmann, known as Beeple, last week for $6.6 million It was auctioned and was originally purchased for US$67,000, and the encrypted art version of the Nyan Cat meme in 2011 was auctioned and sold for US$590,000.
According to data from the CryptoSlam website, in sports, NBA Top Shot is an NFT platform that can facilitate the buying and selling of short videos of popular players. So far, the company’s sales have exceeded $280 million.
The music industry is also entering the market. Bands like Kings of Leon announced that they will release a new album “NFT”, priced at $50, and the release time will be two weeks from Friday noon, Eastern Time. , Will no longer be produced.
As for the Cuban, he has used NFT to make money through online auctions of digital goods (including video clips of “Mavericks Suns Game Day Experience”). He also owns NFT-based digital assets, including a “Maxi Kleber dunk moment” card, which he believes is collectible and as valuable as a sports card. Cuban said he would not sell it, but other figures Maxi Kleiber dunks on the NBA Top Shot website range from $35 to $800. Cuban said this is a huge innovation.
Disclosure: CNBC owns the exclusive off-net cable rights of “Shark Tank”.
check out: Build the credit card with the best credit in 2021
do not miss it: