Celebrity billionaire Mark Cuban has unloaded more than a dozen non-fungible tokens (NFTs) in a matter of days after letting them sit dormant for years.
Cuban hawked a total of 14 NFTs over the weekend and on Monday, the most valuable of which is a “Pudgy Penguin” token that sold for nearly $31,000 worth of Ethereum (ETH), according to the Shark Tank star’s OpeanSea profile.
The billionaire also listed two NFTs for sale that haven’t been purchased yet, including a “MFFL” token priced at more than $51,000 worth of ETH and a “Deuteronomy 25:4” token priced at more than $17,000 worth of the second-largest crypto asset.
Prior to 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 in the sector, saying in a 2022 interview with Forbes that NFTs present a huge opportunity in the book-publishing industry.
“NFTs as books, I think particularly for textbooks. Now, whether or not we can get the college textbook publishers to go along is another issue but the idea of kids buying books for classes… The whole process of buying books.
First, do you want new or used? Then, you lug these books back, then at the end of the semester – because they’re only good for the time you’re in the class – you make the decision, ‘Yeah I’m going to sell it. How do I sell it? Do I ship it off? Do I take it to the bookstore?’ It’s just a pain in the ass and in a digital world, it’s ridiculous.
With those as NFTs, well the NFTs allow you to apply royalties so that when that book is resold, the author and the publisher and whoever else is involved can get a set royalty fee. That means that the publishers who created the book can keep on getting paid, whereas when there’s a physical book that’s sold and resold they have to hope that book falls apart, so that they can sell a new one. So I think that’s a great application.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here