Billionaire Mark Cuban Invests In NFT Data Aggregator CryptoSlam
Billionaire investor and Shark Tank star Mark Cuban has invested in non-fungible token (NFTs) data aggregator, CryptoSlam.
Cuban Adds CryptoSlam To List Of NFT Portfolio
The prominent crypto fan, Mark Cuban, has invested in the NFT data aggregator service known as CryptoSlam through his venture capital arm, Radical Investments.
The NFTs marketplace commenced operation in 2018 in Austin, Texas, following the launching of the website by Randy Wasinger to track Major League Baseball Champions collectibles.
However, Wasinger’s relentless efforts led to the site’s development as one of the biggest NFT aggregators with a focus on projects such as NFT fantasy soccer game, art project, Cryptopunks, and others.
Speaking on the new development, Cuban commented that CryptoSlam is the industry leader in effectively tracking NFTs transactions.
He further stated that the dominance and growth of CryptoSlam in the industry have just begun, stressing that he was delighted to be part of the company Randy had started.
The CEO and founder of CryptoSlam, Randy Wasinger, also expressed delight over the efforts of Cuban investing in his company.
Wasinger stated that Cuban’s investment was coming at a perfect time as the company makes efforts to consolidate the increasing growth of the NFT industry.
Simultaneously, Randy’s company also received investment from strategic partners such as Alomii Inc., Troon Technologies, and GeoAds LLC in completing its first phase of funding.
Cuban’s Growing Affection For Digital Collectibles
The Non-fungible token (NFTs) marketplace is undoubtedly undergoing accelerated growth as more investors are attracted to the industry.
Digital collectibles and artworks are generally referred to as NFTs, bought and sold on blockchains, especially Ethereum.
Before now, the Dallas Mavericks owner had been making moves in the NFT circle. He was one of the key investors that spearheaded a $9 million investment round for NFT Marketplace SuperRare.
Similarly, in a report by Fortune, Cuban had shown interest in supporting Nifty, which is an emerging social media startup aimed at connecting people through their love of NFTs.
Speaking with CNBC’s Make it, Cuban reportedly said that NFT is exciting because it provides unique situations.
As regards the claim that NFT-based arts are sold at hundreds of thousands of dollars, Cuban maintained that the pricing would settle down as more entrants dive into the NFT market.
Under the NFT model, a buyer can acquire the authenticity and ownership of a digital art if he had purchased a unique token for the NFT-based artwork listed for sale by an artist.
Also, Cuban holds that the tech is real, knowing fully well that the impact is also real and permanent.