Here Are The Crypto & NFTs Opportunities Mark Cuban Is Most Excited About!
In a recent interview with Forbes, billionaire and Dallas Mavericks owner Mark Cuban spoke about the world of cryptocurrencies and NFTs, including what he views to be the next big thing in the industry.
Mark Cuban On Crypto
In the interview, the billionaire explained that he has high hopes and is optimistic for the future of cryptocurrencies, stating that about 80% of his projects on non-“Shark Tank”-related investments are focused onto crypto.
Cuban also stated that he thinks the insurance industry could benefit in becoming much more efficient if it used blockhain crypto technology.
“With crypto, you could reinvent how insurance claims are pre-approved or approved by creating an environment where you have a thousand validators. There are different optimistic rollups where you have validators and challengers,” Cuban explains.
“That keeps it honest. That’s just a crypto way of keeping things honest. So that type of application has scale, it has impact and it’s better in a decentralized, wide and flat organization than a vertically integrated company.”
NFTs On The Book Industry
Aside from that, Mark Cuban also expressed his views on NFTs, saying that Non-Fungible Tokens have a huge opportunity in the book industry.
Cuban explains that for things like textbooks, which would often lose revenue when they’re resold on secondary markets, if these books were turned into and sold as NFTs, authors and publishers would continue to earn revenue even as these books are sold on secondary markets.
“NFTs as books, I think particularly for textbooks. Whether or not we can get the college textbook publishers to go along is another issue,” Cuban says.
“The NFTs allow you to apply royalties so that when that book is resold, the author and the publisher and whoever else is involved can get a set royalty fee. So, that means that the publishers who created the book can keep on getting paid. So, I think that’s a great application.“
Cuban On Blockchain Technology
This isn’t the first time Mark Cuban has expressed his optimism for crypto, NFTs and web3. In fact, the billionaire has been known to be supportive for blockchain technology for quite a while, even stating that his own son had been mining Ethereum for a while before the Ethereum merge.
With the constant growth of the crypto space and technology, it seems that Mark Cuban is using his resources to continue to help Web3 continue to grow and hopefully develop into something bigger in the future.