Why is Mark Cuban Fascinated by Crypto? Cuban drew comparisons of the up and coming crypto space to the early days of streaming. He claimed that people had to go through a tedious process just to make a 16k stream work and believed that if it didn't, people would often become a laughing stock for not using a radio
By Saptak Bardhan •
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Shark Tank fame, Mark Cuban recently took to Twitter clarifying why he invested in crypto. "I believe smart contracts will have a significant impact in creating valuable applications," said Cuban in his tweet.
A basic question. Why have I invested in crypto? Because I believe Smart Contracts will have a significant impact in creating valuable applications. I have said from day 1, the value of a token is derived from the applications that run on its platform and the utility they create
— Mark Cuban (@mcuban) November 13, 2022
Cuban mentioned in the thread the success of crypto has been hampered due to the absence of an application that is 'ubiquitous' He strongly believes that the world needs such a platform. However, he is skeptical whether it would be made or not.
Cuban drew comparisons of the up and coming crypto space to the early days of streaming. He claimed that people had to go through a tedious process just to make a 16k stream work and believed that if it didn't, people would often become a laughing stock for not using a radio.
However, he mentions that the online streams were perfect for in office or out of market. The concept of streaming came in 1995.
He mentioned that concept of smart contracts is approximately five years old.
In another tweet, Cuban mentioned about the regulation of crypto. "The SEC says that they regulate crypto," said Cuban in the tweet.
Everyone is saying that crypto is unregulated. Not true The SEC says that they regulate crypto. Ask Kim Kardashian and the tokens they have sued or settled with. The question is, given the visibility of the central exchanges , why hasn't the SEC already knocked on their doors ?
— Mark Cuban (@mcuban) November 12, 2022
The Crypto space has been going through a rough patch with FTX's implosion being one of the more recent events.
Cuban has invested in quite a few Web3 startups with a few notable startups being Polygon, OpenSea, etc.
