If Mavericks owner Mark Cuban was starting a new company today, he would centralize the business around blockchain tech and NFTs (non-fungible tokens).
You might be asking yourself:
WTF are NFTs?
NFTs are cryptocurrency tokens that represent one-of-a-kind digital assets that can be sold like physical products (picture digital artwork, music, and sports highlights cards).
Cuban is all in on NFTs – he has already auctioned NFTs online, including a Dallas Mavericks Game Day Experience video, and owns a number of collectible digital sports assets.
But he’s not the only one who’s bullish on this growing asset class. VCs, and other well-known angel investors like Gary Vaynerchuk have been blowing up their social platforms with their thoughts on NFT investments.
Advantages of NFTs:
- They can be bought and sold on blockchain.
- Validity can be tracked because assets are blockchain verified, which will virtually eliminate forgery.
- NFT buyers can prove ownership through blockchain tracking.
There are already lots of opportunities for NFT startups, and this new tech has the potential to change revenue streams for all kinds of companies.
Explore the biggest NFT marketplaces >>
Related Article: Bitcoin Boom