According to a recent interview, Mark Cuban has started investing in non-traditional businesses. In it, the Shark Tank star’s interest in DAOs and smart contracts is growing.
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Mark Cuban, famous for sitting on ABC’s Shark Tank chair. After many times publicly advocating Blockchain, he invests 80% of his money in cryptocurrency. In an interview, Mark shared that:
you are watching: Mark Cuban Expresses Optimism About DAOs and Smart Contracts
The investments that I am making now are not traditional businesses,
Cuban also manages the NBA’s Dallas Mavericks, whose athlete has partnered with crypto company Voyager. Dallas Mavericks accepts DOGE for payments. At the same time, Dallas considers electronic memes to be the “most powerful” means of exchange.
Mark Cuba’s growing interest in the DAO
Cuban has shown an interest in Decentralized Autonomous Organizations. He predicted in June 2021 that DAO organizations could become a strong competitor to traditional organizations. DAOs are entities on a blockchain that are managed by governance token holders.
The amount of tokens an individual holds gives them a proportional influence on how the DAO will be executed. Cuban predicts that the banking and insurance sectors will be hit hard by new technologies.
He warned banks to fear DeFi. He is optimistic about smart contracts, the lifeblood of DAOs, and decentralized finance. He told CNBC: Smart contracts can change the world. He also invested in a fintech company called Seashell. This company offers high returns through crypto-backed loans.
Mark Cuba has invested in BTC, ETH and altcoins and the assets have split 60%, 30% and 10% respectively. According to a wallet address attributed to him, possible altcoins include: Ocean Token, Audius, and Wrapped Ethereum. He advises that the utility of the token should be established prior to an investment because utility drives value creation.
According to shark Mark: Cryptocurrencies are not for everyone
Cuban doesn’t ignore reality and makes comparisons between the crypto industry and the Internet, “It’s like the early days of the Internet. The same thing is happening now. It was 1995 for crypto.” He also does not believe that Bitcoin is a hedge against inflation. Because digital gold is highly liquid and not an easy investment channel.
Cuban has admitted that cryptocurrency “may not be for everyone” at the moment. According to him, cryptocurrencies are elusive and complex. But 10 years from now, this investment channel will be popular and many people will conquer them. Because, the cryptocurrency sector is creating a miniature economy. Cuban owns multiple NFTs, including one Cryptopunk and at least one Bored Ape.
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