NFTs
14 NFTs in two days
Former NBA Dallas Mavericks owner and Shark Tank investor Mark Cuban made headlines when he suddenly sold several non-fungible tokens (NFTs) from his extensive collection. Based on the data, in the last two days, markcuban.eth has downloaded 14 NFTs.
While most of these sales involved lesser-known collections, Cuban’s decision sparked interest and speculation in the NFT community.
In a remarkable transaction, Cuba sold your Pudgy Penguins NFT #6329 for 9,065 Ethereum (ETH), equivalent to almost $30,000 at the time of sale. Also, Cuban attempted sell a Dallas Mavericks-themed NFT from the Proof of Culture series for 15 ETH (approximately $50,194) through one of their Open sea wallets.
According to data from OpenSea, this portfolio, linked to Cuban and the Dallas Mavericks, contains around 1,600 items. Despite the sales, his portfolio still includes a substantial collection of NFTs valued at over 1,900 ETH, or approximately $6.2 million.
See more information: How to Start NFT Trading: A Step-by-Step Guide
Mark the Cuban NFT sales in the last two days. Source: Open sea
Cuban, a prominent NFT advocate since the 2021 boom, invested significantly in NFT projects and platforms, such as CryptoSlam and Mintable. At the end of 2023, Cuban remained bullish on NFTs, advising collectors to buy for love rather than speculation. He highlighted the early struggles of now-successful tech giants like Amazon and Microsoft to draw parallels to the potential of the NFT market.
“Do you know what happens to speculators? They get their asses kicked. Someday you will turn around and say to yourself, ‘I should have bought those damn NFTs when they were almost nothing,’” he stated.
Cubano’s NFT sales coincide with a notable drop in the minimum price bored Monkey Yacht Club (BAYC) NFTs, which dropped below 10 ETH last week. This context fueled speculation about the timing and reasons behind its sales.
See more information: 7 Best NFT Marketplaces You Should Know About in 2024
O the broader NFT market has also seen a downturn. CryptoSlam data reveals that NFT sales volume in the last 30 days it was US$485 million, a significant reduction of 48.52%. Cuban’s actions can be seen as a reaction to these market conditions or as a strategic move within his broader investment portfolio.
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