Mark Cuban, a billionaire investor, claims that this is the moment that "really got me into" cryptocurrency.
Mark Cuban, the billionaire investor, had a defining moment when he decided to go all-in on Cryptocurrency.
At the North American Bitcoin Conference on Monday, Cuban told Miami Mayor Francis Suarez, "I always paid attention to bitcoin, the pricing, the tokens, and the [crypto]currencies." "However, it was around a year ago that I minted my first NFT that really got me into it."
Nonfungible tokens, or NFTs, are one-of-a-kind digital assets. The process of converting an asset into a token that can be represented on the blockchain is known as minting an NFT. It enables NFT owners to show ownership of the asset while also allowing them to sell it if they so desire.
The opportunity of earning royalties on secondary sales of Cuban's NFTs was tremendous for him.
"I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' I'm like, 'How can you do that?' "You can't accomplish that with anything physical," said the Dallas Mavericks owner and "Shark Tank" investor.
Cuban learnt about smart contracts after studying a little more, which are collections of code that carry out a set of instructions on the blockchain. Smart contracts are essential for NFTs as well as other crypto projects like decentralised finance, or DeFi. "That's highly disruptive to me," he remarked.
"While NFTs are trendy right now and everyone is talking about them," Cuban told Suarez, "they're really just a proof of concept for what you can accomplish with smart contracts and decentralisation."
Cuban now considers himself a crypto "evangelist," according to him. He's a big believer in the space, with a cryptocurrency portfolio that includes a variety of digital coins, NFTs, and investments in a number of blockchain startups.
