[Digital Today Reporter Hyunwoo Choo] Mark Cuban, an American billionaire entrepreneur and owner of the Dallas Mavericks, a professional basketball team, talked about investing in virtual assets (cryptocurrency). His message is to pay attention to Ethereum rather than Bitcoin.
According to Coinpost on the 15th (local time), Mark Cuban appeared on the famous podcast’The Defiant’ and said, “I think the fastest growing industries in the next 10 years are DeFi and NFT (non-replaceable tokens).” Said.
“We have Bitcoin, Ethereum, Litecoin, AAVE and Sushi. DOGE is also a great companion to learn the economy,” he said.
In particular, he explained, “The Dallas Mavericks team is receiving tickets and souvenir purchases in bitcoin, but the asset with higher potential is Ethereum,” he explained. “Ethereum is better than Beekcoin as a means of storing value.”
The reason Mark Cuban places a higher value on Ethereum is because of smart contracts. This allows developers to create new decentralized applications, and ultimately argues that Ethereum will be the most essential tool in creating an innovative financial system that deviates from the current centralized financial system.
Mark Cuban also expressed his view of the NFT as “a game changer.” As a means of proving irreplaceable uniqueness, the NFT, which is applied to collectibles such as souvenirs, art works, and game items of idols and sports players, was evaluated as having a wide potential to cover various intellectual property rights (IP) in the long term.
He said, “Currently, music, videos, and music videos are released on YouTube and only used as a means of promotion or advertisement, but if you use NFT, you can generate direct profits by selling and renting them.” “It’s the most difficult technique to do.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.