In the mail
- NBA billionaire owner Mark Cuban couldn’t get enough of the NFT lately.
- He said deciphering the key to understanding the NFT mania was to “overcome that perception that I was physically exposed to.”
Dallas Mavericks owners and Mark Cuban, ABC’s “Shark Tank” investor, never tweeted the word “NFT” until January 27 of this year. But since then, he has tweeted a link to his own NFT or non-replaceable token, blockchain-based collectibles that are gaining in popularity (and price) in sports, music and art.
Cuba has been attracted to this: he promotes the NFT in NBA Top Shot, Rarible, Mintable and OpenSea, different platforms for your buying, trading and sharing..
It̵7;s a phenomenon where it’s hard to wrap your head around.
Cuba in an in-depth interview this week with Decrypt Explained by holding his own favorite basketball card, John Brisker, who played in the 1970s for Cuba’s hometown Pittsburgh Condors in ABA, before leaving the league to become A mercenary in Uganda, where he disappeared in 1978 (“Cool as hell,” Cuba says).
What is the fun of owning a card? “A joy to own,” said Cuba. “I didn’t take it out and looked at it all the time. John Brisker’s pictures, you’ll find it online somewhere, nothing special, and it’s not like a picture of art and nothing. Special about statistics and All of the back reviews that are available online are the ownership that comes with it, and with the actual presence, that is your only proof of ownership.
‘The joy of owning’
If Cuba wanted to sell the card, he said he would have to start an intense process: checking, rating and pricing by a professional, wrapping it up, sending it to the buyer, then receiving payment.
Enter NBA Top Shot, a marketplace where fans and collectors buy digital video clips, say LeBron James Dunk and can share, hold or sell.Over the past 30 days, it has sold nearly $ 300 million. On a frenzy day in February, the platform sold up to $ 2.6 million in NFT in 30 minutes.Collectors paid hundreds of thousands of dollars in some cases for digital video clips of the play that you can watch on Twitter, Instagram or YouTube.
You have to “overcome that perception that I have to feel it physically,” said Cuban, “and realize that it gets more difficult. The joy of owning is really important. You get all the benefits of the joy of belonging. .. Creating total value or a loss for that – friction-free trading and transactions, the ability to license the original creator after every sale, which is enormous and helps. Let more creativity enter the market, who designed it? [the card of] John Brisker is very old and his photography is worth nothing. ”
Overcoming the feeling of wanting to capture the art you buy is easier said than done, even if anyone who believes in Bitcoin is an investment, at least already has an idea of the Internet of Value.
And even if you buy Cuban stadiums for tech NFTs, it can be scary.NBA Top Shot is in Flow, a faster blockchain. EthereumAnd it allows buyers to pay in dollars, so they don’t have to deal with crypto or even think about crypto (Top Shot has one other problem right now: buyers complain that it’s difficult to get your money out. From the platform)
But Cuba’s claims about the possibility of paying royalties to the original owners are partly made to the artist. The fact that Kings of Leon changed their new album to three NFTs may indicate that something is permanent here.
‘Not as private as most people think’
There is another wrinkle with NFT ownership when you share a link to your NFT wallet publicly on a platform like Rarible. Anyone with a basic understanding of blockchain can view wallet addresses on Etherscan (Public Site). For viewing the Ethereum blockchain) and viewing the financial content of your wallet. (Bitcoin blockchain is the same way: anonymous billing. But like really semi-anonymous)
Cuba happily tweeted his rare wallet, and as of Friday afternoon the wallet contained $ 455,000 worth of tokens and NFTs.
Cuba knows that everyone can see that and he doesn’t care. (He also hints: “I have a lot of wallets, I have a lot of wallets”) But celebrities like Lindsay Lohan who tweeted her rare address, would you know? (She only has $ 440 now.)
“Yeah, it’s not as personal as anyone might think,” Cuba admitted with a laugh. And that’s the whole point of blockchain, right? It’s 100% public, because everything is verifiable. But of course, I can take it all out and put it in another wallet … and for me 99% of what I’m doing right now is just learning how the pricing engine works. Know how transfer technology works, learn how to mint it, learn how to post all this content as part of the learning curve, because it has to be easier. Or no one can do it. “