Mavericks Owner Mark Cuban Is Making Money Off Of His QuotesApril 16, 2021
Today, it is hard to read the finance page without hearing about NFTs. The non-fungible tokens can be anything digital, but they are really taking the art world by storm. Shark Tank’s Mark Cuban is getting into the NFT game. Cuban is selling his motivational quotes for around $1700 in cryptocurrency.
His meme or digital art is a picture of himself with one of his famous quotes that reads “Nobody ever changed the world by doing what everyone else was doing”. Cuban is attempting to sell several NFTs. He is also selling some of his motivational speeches.
What makes NFTs so appealing? The NFTs basically come with a certificate of authenticity and cannot be used by anyone else. As an owner, however, you can sell it to someone else. Cuban has even taken this into consideration. If an owner sells one of his NFTs, Cuban will get a cut of that sale too.
Cuban believes that this alternative way of selling anything digital is going to be a game-changer. He explains that especially among the younger generation whose most valuable item is their phone, this will change how they buy and sell things. After all, phones and devices are where we store everything. Instead of buying art to hang on the living room walls, art is being bought and stored in our phones. Once you purchase an NFT, the owner has unlimited use of the digital asset.
This is a natural progression according to Cuban. Something that older generations may not truly understand. Young entrepreneurs especially already understand that the use of social media platforms such as TickTock, Instagram, is how brands are made. NFTs allow for those brands to expand. They already understand that GIFs draw attention. So selling NFTs are the next logical sense.
As stores of people selling and making large amounts of money selling NFTs the more popular, they will become. Recently, one NFT sold for $69 million in an auction. The buyer runs Metapurse, which is an NFT fund. Mark Cuban believes that this will permanently change how we view digital merchandise.