Mark Cuban the Billionaire Investor Mints First NFT

Mark Cuban, the Dallas Mavericks owner has minted his own Non-fungible token (NFT) in an edition of 10, released on the Rarible marketplace.

The Dallas Mavericks owner says, “You can sell anything digital, like Virtual Mavs gear, art, videos, pictures, or any imaginable thing using NFT”.

According to Forbe’s, Cuban’s net worth is estimated to be around $4.3 billion and he is ranked #177 on the Forbes 400 list in 2020. Cuban sold Broadcast.com to Yahoo for $5.7 billion in 1999. His wallet consists of ERC-20 tokens, which include HYVE, MASQ, and OPEN governance that amounts to more than 0.5 ETH.

Mark Cuban Releases NFT on Rarible

The Dallas owner has minted his first Ethereum NFT and one buyer bought two editions for almost $80,000. “The RollUp 2021”, was released on Rarible in editions of 10. It has a feature of Cuban with a Dallas Mavericks shirt. Rarible is a nonfungible token platform (NFT) that uses Blockchain technology to create and secure digital tokens.

The NFT was listed for 0.02 ETH price value but is currently valued at $26. Though bidders bid for values $7.5 to $11 ETH it was outbid for $30 ETH and $35 ETH that were worth almost $37,500

The Federal Reserve’s interest rates are almost at zero, which has led to speculation across various areas such as cryptocurrency, trading cards, and non-fungible tokens, which attracts more investors into the crypto market, says Cuban.

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Cuban, the Investor who Criticizes Cryptocurrency

When Bitcoin touched a life-time high above $40k, the American billionaire entrepreneur tweeted, “Crypto trade is like the internet stock bubble”.

Though Cuban has been critical of the cryptocurrency, he has an impressive portfolio as an investment. He once said, “I prefer having a banana than holding any Bitcoin”, but reports say that he has more crypto than what others think.

He has admitted that he is bullish on Bitcoin. He has held BTC for many years and has added more into his portfolio from Coinbase. He claims that he still holds them and has not sold out his holdings.

In January 2018, the Dallas Mavericks owner confirmed that cryptocurrencies like Bitcoin will be accepted as payment for the 2018-2019 season tickets. Though he was an open critic of Bitcoin, he continues to use cryptocurrencies and invest in them.

Start-ups Funding

Mark Cuban is the founder of video portal Broadcast.com in 1995 along with Todd Wagner. He also owns the NBA’s Dallas Mavericks. He has stakes in many small start-ups, AXS TV, and Magnolia Pictures. Cuban funds many start-ups and has invested in tokens from the e-sports start up Unikrn.

He is a large-scale investor in the stock market and is said to be a sharp investor who has made a lot of money from the stock market.

His media personality has made his shows famous, such as Shark Tank and Dancing with the Stars. It attracts smart people and businessmen, which is useful for his business expansion and brings new opportunities from promising start-ups.

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Cryptocurrency Exchange Record High Traffic

Bitcoin and Ethereum use Blockchain technology, though Ethereum usage is higher. Bitcoin has wider acceptance, but Ethereum is likely to dominate the market in the future. More digital currencies are already available in the digital market. Small investors are becoming aware of the crypto market and consider it an opportunity to make profits. With such high inflow, valuations are extended, and momentum trade is building up say, investors

Bitcoin

Bitcoin prices rose sharply on Monday after last week’s sell-off. Bitcoin moved below the $30,000 mark, and almost $100 billion was wiped away from the crypto-market by the drop in prices. The world’s largest cryptocurrency has been volatile this month. It reached a high of $40,000 on 7th January and fell almost 17% from the all-time high. Institutional buying is high and is driving Bitcoin higher, say experts. Universities like Yale and Harvard are buying into cryptocurrency.

Ether

Ether hit a new record high. It touched $1,476 on Monday, a rise of more than 6% from the previous price. Experts say that the use of Ethereum has increased with a major upgrade made in the use of Ethereum. Inflow from institutional investors is another reason for the rally in it. ETH has moved from $700 to $ 1,400 in just a month, doubling almost twice in value. It touched a low of $113 in March 2020.

Ether, the second-largest cryptocurrency in market capitalization is the most used Blockchain, next to Bitcoin.

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Litecoin

Litecoin hit an all-time high at $356, three years earlier. Currently, Litecoin is trading at around $143 at the time of writing on Thursday, 29th January. Considered as “digital silver”, Litecoin creates new blocks much faster than Bitcoin, for every 2.5 minutes.

Ripple’s XRP

Ripple’s XRP is currently trading at 0.28 with a market cap at $29.33B, dropping 11% within 24 hours. Its life-time high is at $3.40.

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