NFTs
Billionaire Mark Cuban abruptly unloads over a dozen NFTs in just two days, lists two more for sale
Famed billionaire Mark Cuban sold more than a dozen non-fungible tokens (NFTs) in a matter of days after leaving them dormant for years.
Cuban sold a total of 14 NFTs over the weekend and into Monday, the most valuable of which is a “Chubby Penguin” token that sold for nearly $31,000 in Ethereum (ETH), according to Shark Tank star OpenSea profile.
The billionaire also listed two NFTs for sale that have not yet been purchased, including a “MFFL” token valued at over $51,000 in ETH and a “Deuteronomy 25:4” token valued at over $17,000 in the second-largest crypto asset .
Before this weekend, Cuban’s most recent NFT activity on OpenSea was a token sale nearly 2.5 years ago. The Shark Tank star has previously expressed optimism about the industry, saying in a 2021 interview with Forbes that NFTs present a huge opportunity in the book publishing industry.
“NFTs like books, I think mainly for textbooks. Now, whether or not we can get college textbook publishers to agree is another question, but the idea of kids buying books for classes… The whole book buying process.
First, do you want new or used? So, you carry those books back, then at the end of the semester – because they’re only good for the time you’re in class – you make the decision, ‘Yes, I’m going to sell it.’ How do I sell? I send? Shall I take it to the bookstore?’ It’s just a pain in the ass and in a digital world, it’s ridiculous.
With those like NFTs, well, NFTs allow you to apply royalties so that when the book is resold, the author, the publisher, and whoever else is involved can get a set royalty rate. That means the publishers that created the book can continue to get paid, whereas when there’s a physical book that’s sold and resold, they have to wait for the book to fall apart so they can sell a new one. So I think that’s a great application.”
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