How billionaire Mark Cuban went from a crypto skeptic to an avid supporter: Analysis
There has been quite a lot of news relating to Mark Cuban and his blockchain technology investments. Even though it seems, from what we’re seeing, that Cuban is bullish on the crypto market today, he actually sounded skeptical of the whole blockchain and Bitcoin concept just a few years ago. What then?
Big move for the sports industry
Heading into the 2018–19 NBA season, Cuban announced that his Dallas Mavericks would be entering the crypto market by accepting digital currency. Fans would be allowed to purchase everything from tickets to merchandise, using a new blockchain-based e-commerce token: the CyberMiles Token (or CMT). 5miles, a strategic partner of CyberMiles’, last year announced a multi-year sponsorship of the Mavs.
At a 2018 press conference, Cuban discussed the benefits of the partnership, in terms of utilizing cryptocurrency and the technology behind it:
Implementing [blockchain technology] into a marketplace app allows us to sell to our fans more securely. And for those people who are committed to cryptocurrency — whether you see it as a store of value, whether you see it is as a gamble, whether you see it as the future (and the same with tokens) — we want to be able to allow people to transact business how they want, when they want, where they want.
Read more at cryptomenow.com.
