Shark Tank investor, Mark Cuban says that smart contracts and NFTs are currently in an “advertising campaign cycle” and, although we have not yet seen the business applications, “we will see”.
Dallas Mavericks billionaire Mark Cuban plans to turn tickets for professional basketball games into the latest craze in the city, non-fungible tokens (NFTs). Cuban said on The Delphi Podcast:
“We are trying to find a good option to turn our tickets into NFTs and we want to be able to find ways that you know about so that our consumers, our fans can buy tickets and resell them, and continue to make royalty money on them.”
According to him, the market is in a cycle of hype, as well as that of 2017 for Bitcoin, Ethereum 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 are people who are going to make and lose money on each one, but it becomes the platform for the next layer, the next level. So with NFTs, we haven’t seen 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 showcase their digital and collectible art.
“The NFT market is on fire”, said Cuban, who sold one of his motivational quotes, “No one ever changed the world by doing what everyone else was doing” as an NFT for $ 1,700 in cryptocurrency a few weeks ago.
During his recent appearance on the Delphi Digital 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 “phenomenal” and “incredible”. This Cuban trend is likely to continue, as he owns BTC and never sold any.
“However, this is not really where it compares to the Internet, but when the Internet started to see all these applications that could disrupt things that were happening in the analog world, and we see that with smart contracts.
It started with smart contracts, then ICO, and then more and more apps came out, and they became more prevalent and more accessible, and that created DeFi and NFTs.
The fact that they are decentralized and that there is no one responsible, and governance is completely different, that is what changed the game, he said. ”
Source: BTC EG