Billionaire Mark Cuban said in a recent podcast that 80% of his 'non-Shark' money is in digital assets. This statement came as no surprise, as Cuban has been quite vocal about his love for cryptos from the very beginning.
“80% of investments that are not in Shark Tank are in or around cryptocurrencies. My current investments are not in traditional businesses.”
Cuban's NBA team announced a partnership with the Dallas Mavericks' crypto platform, Voyager. In addition, the company accepts Dogecoin as a means of payment for payments.
"Forget all the speculation you've read about Bitcoin and Dogecoin. Put that aside, this is the game mastery with stocks and everything."
However, in the most recent podcast, he explained that he is now also looking at decentralized autonomous organizations (DAOs).
“Every token holder in this app has the opportunity to determine the direction of the network not always equally, but typically equally. This is where I really want to invest.”
In the past, Cuban also predicted that DAOs could lead to some "disruptive" business opportunities.
However, Cuban is also on the rise in smart contracts - the lifeblood of DAOs, DeFi and NFTs. Meanwhile, NFT wallet seems to have collectibles built on Ethereum, Polygon, and Solana.
"The future of corporations could be very different as DAOs take on legacy businesses. It’s the ultimate combination of capitalism and progressivism. Entrepreneurs that enable DAOs can make $. If the community excels at governance, everyone shares in the upside. Trustless can pay."
What is a DAO?
A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited. Ultimately, a DAO is governed entirely by its individual members who collectively make critical decisions about the future of the project, such as technical upgrades and treasury allocations.