In Brief:
- Mark Cuban revealed that 80% of his investments are in the crypto space.
- The billionaire investor is mainly interested in DAOs and their decentralized and trustless nature.
- Cuban believes that the banking and insurance sector will change with the growth of DAOs.
Billionaire investor Mark Cuban says that 80% of his investments are mainly in the crypto sector.
While speaking to Jon Stewart in an episode of “The Problem With Jon Stewart” podcast, Cuban stated that “80% of the investments that I make that are not on ‘Shark Tank’ are in or around cryptocurrencies.”
Shark Tank is an American business reality television series showing entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their firm.
Cuban revealed to Stewart the aspects of the cryptocurrency space in which he is interested. One that has his full attention is decentralized autonomous organizations (DAOs).
He went on to say that these types of organizations will deliver “game-changing businesses,” which shows his interest in the decentralized and trustless nature of the sector.
He also predicted that many new businesses inspired by the crypto economy would change traditional institutions such as banking and insurance.
Cuban revealed that he has also made investments in blockchain companies and NFT platforms. On the podcast, Cuban stated that he is a fan of smart contracts, which are used to form DAOs and power decentralized finance applications and NFT exchanges.
According to his Lazy portfolio, he owns NFTs from the well-known Bored Ape Yacht Club, as well as CryptoPunk.
Cuban compared the developing crypto industry to the initial days of the internet. “It’s like the early days of the internet. The exact same thing is happening now. It’s 1995 for cryptocurrencies.”
Last year, Cuban began issuing NFTs to Mavericks fans who attended games. In each game, the corporation mints 20,000 NFTs of the players and distributes them to fans in attendance. In November 2021, one of the fans won $100,000 in Bitcoin in an NBA shootout event. The Voyager Digital-sponsored prize money was the team’s most significant on-court promotion, according to the Dallas Mavericks.
