Mark Cuban, the billionaire entrepreneur owner of the Dallas Mavericks, and now probably most famously known as the Shark Tank investor revealed that going forward with the exception of his Shark Tank deals, he's all in for investing in crypto. Cuban seems to have a wide range of assets in the form of cryptocurrencies. Some of which he invested in just for fun. In a recent podcast with comedian Jon Stewart, Cuban said, "80 percent of the investments that I make that are not on Shark Tank are in or around cryptocurrencies." The reason he gave for switching to non-traditional investments was due to DAO or decentralized autonomous organization. Since DAOs are not regulated by a specific body and are a blockchain-based environment, Cuban's view was that new businesses emerging from DAOs will be a game-changer. Cubans stressed the fact that DAO is being governed by investors who hold their governance tokens gives the crypto holder voting rights in case any of the rules or protocols need to be changed. In relation to this Cuban also added that banking and insurance sectors are going to change once dows are implemented in the financial sector as well. In Cuban's exact words in Jon Stewart's podcast a decentralized autonomous organization, DAO, basically says that there is no central organization. It's all decentralized and trustless. What we mean by trustless is that there's not a management group or a board of directors or a CEO making decisions. And so everybody who owns a token in that application then has an equal, not always equal. but typically equal vote to set the direction of the hull of the network. That is changing decision making and that is where I look to invest. A CNBC article also states that the 63-year-old entrepreneur is an avid believer of smart contracts, DeFi applications, and NFTs. As per Etherscan, an analytics platform for Ethereum, Cuban's altcoin investments also include Rarible, a smart contract protocol, Ocean protocol, a data exchange platform, Olympus DAO, and Audies, a music streaming blockchain. BINANCE also reports Cuban holding investments on Lazy, NFT Genius, Fabrica, Nifty’s, Mintable, NFT42, CryptoSlam, OpenSea, and SuperRare; all of which are NFT collectible platforms. Apart from the exploding set of NFT holdings, Cuban is also reported to have non-NFT investments in a number of DeFi and Layer 2 scaling networks such as DeFi Alliance, Zapper, Polygon, Injective Protocol, and Arbitrum. To affirm Cuban's plethora of crypto investments and his strong belief endows one of Cuban's tweets on January 11, 2022, reads, "Tokens trading is the least important part of crypto. Being able to create businesses on decentralized platforms, leveraging smart contracts, validators, DAOs and more, creates a unique ability to offer more efficient biz processes and disrupt industries. On January 12, 2022, the billionaire further Tweeted, "‘When I look at crypto, I look as an entrepreneur and ask how do any combination of Smart Contracts, Decentralization, Security and Economics, enable a better way to do business and create opportunity. If I see one, I start or invest in it."
With the crypto market trading sideways as of now, Ethereum is down 1.30 percent in the last 24 hours and stands at $2,547.29 at the time of writing this article. Hence, even Cuban is realistic about the improbable trend that the crypto universe has. In relation to such volatility of the crypto market, he stated in the podcast with Stuart, "It's like the early days of the internet, the exact same thing is happening now. It's 1995 for cryptocurrencies." He further adds, "it's not to say there aren't a lot of problems, it's hard to understand, and it's a hassle. But 10 years from now, there's going to be those that succeed that will create its own economy. What do you think of Cuban's holdings? Comment below! If you found value in the article, please hit the like button it only takes one second but it greatly helps the blog, and more importantly, it helps PUBLISH0X find someone similar to you who wants to stay up to date to the world of cryptocurrency.
