Like other Hollywood types, Mark Cuban has become enamored with NFTs, down to owning a CryptoPunk (No. 869, currently valued at $95,000.) He was a prominent supporter of NBA Top Shot, the league’s highly successful NFT marketplace (more than $1 billion in total sales since its October 2020 launch), and even started his own NFT platform, Lazy.com, where he displays his personal collection. In March 2021, the Mavericks became the first NBA team to accept the meme cryptocurrency dogecoin as a form of payment—and (incredibly) still do despite the currency plummeting 90% since last year. It’s quite an about-face for Cuban, who quipped back in 2019 that he’d “rather have bananas” than bitcoin.
Last October, the Mavericks inked a five-year partnership with Voyager Digital, one of the fastest-growing publicly traded crypto brokerages in the United States. Voyager has since lost 99% of its value and filed for bankruptcy, prompting a group of customers to sue Cuban, arguing that his endorsement duped everyday investors into pumping $5 billion (now frozen) into the platform. Cuban won’t comment on the lawsuit beyond saying it won’t stop him from promoting crypto.
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Last October, the Mavericks inked a five-year partnership with Voyager Digital, one of the fastest-growing publicly traded crypto brokerages in the United States. Voyager has since lost 99% of its value and filed for bankruptcy, prompting a group of customers to sue Cuban, arguing that his endorsement duped everyday investors into pumping $5 billion (now frozen) into the platform. Cuban won’t comment on the lawsuit beyond saying it won’t stop him from promoting crypto.
Read the full story on Forbes: https://www.forbes.com/sites/jemimamc...
Subscribe to FORBES: https://www.youtube.com/user/Forbes?s...
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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Francisco Gimeno - BC Analyst Cuban remind us that we are at the early years of a new technology, crypto. And how this shows in history each and every time. And that, we can add, the time between the launching of a new tech and its massive use is shorter and shorter. Crypto (since BTC or even before) has been here for few years around 12 yrs, and smart contrast and the explosion since 2017. Normal that we don't have yet real mass use as we don't have real apps or as we say a Crypto2 which can be easily used and understood by everyone. This goes also joined to the development of Internet with Web3 which should change the way we interact in it. The example Cuban puts about how mobile phones changed into smart phones, and how we now use that device for anything except to phone someone is very credible. Long live to crypto.