Published On Oct 10, 2022
Like other Hollywood types, Mark Cuban has become enamored with NFTs, down to owning a CryptoPunk (No. 869, currently valued at $95,000.) He was a prominent supporter of NBA Top Shot, the league’s highly successful NFT marketplace (more than $1 billion in total sales since its October 2020 launch), and even started his own NFT platform, Lazy.com, where he displays his personal collection. In March 2021, the Mavericks became the first NBA team to accept the meme cryptocurrency dogecoin as a form of payment—and (incredibly) still do despite the currency plummeting 90% since last year. It’s quite an about-face for Cuban, who quipped back in 2019 that he’d “rather have bananas” than bitcoin.
Last October, the Mavericks inked a five-year partnership with Voyager Digital, one of the fastest-growing publicly traded crypto brokerages in the United States. Voyager has since lost 99% of its value and filed for bankruptcy, prompting a group of customers to sue Cuban, arguing that his endorsement duped everyday investors into pumping $5 billion (now frozen) into the platform. Cuban won’t comment on the lawsuit beyond saying it won’t stop him from promoting crypto.
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