Mark Cuban Mints First Ethereum NFT on Rarible, Purchaser Spends $81,000

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Mark Cuban has launched 10 editions of his first NFT. Inside hours, a purchaser purchased two for roughly $81,000. 

Mark Cuban Joins NFT Hype 

Mark Cuban, the billionaire entrepreneur and famend investor, has created his personal non-fungible token (NFT). 

Titled “The RollUp 2021,” the digital artwork piece was launched in an version of 10 on the NFT market Rarible final evening. 

It options Cuban sporting a Dallas Mavericks shirt. 

Look what I discovered! The RollUp 2021 collectible https://t.co/EexbU3DNFy #rarible #ethereum #nonfungible #digitalasset #nft through @rariblecom

— Mark Cuban (@mcuban) January 27, 2021

Cuban is the proprietor of the Dallas Mavericks. He’s additionally recognized for showing on the favored ABC tv sequence Shark Tank. 

The NFTs have been initially listed for a worth of 0.02 ETH every, round $26 at present costs. 

Given the latest hype surrounding the NFT area, they have been rapidly snapped up at that worth. Bidders pushed the costs up shortly after, with a number of editions promoting for between 7.5 and 11 ETH. 

One purchaser, going by the identify 0x_b1 on Rarible, outbid the others by a ways. They bought two editions for 30 ETH and 35 ETH, value round $37,500 and $43,750, respectively (the value of ETH has elevated additional in the previous couple of hours). Cuban acquired 10% of the proceeds from every sale. 

Not lengthy after, 0x_b1 burned one of many NFTs and shared the replace on Twitter. 

9 has a greater ring to it @mcuban

+extra $RARIhttps://t.co/1ZYwj1g6up

— 0xB1AdceddB2941033a090dD166a462fe1c2029484 (@0x_b1) January 28, 2021

The burn transaction may be considered on-chain through Etherscan. By burning one version, the customer has made the NFT extra scarce, doubtlessly growing its long-term worth. 

Mavericks Proprietor Embracing Web3 

Quickly after Cuban posted his personal piece, many NFT creators transferred their very own items to his account, probably as a method of drawing consideration to their collections. He’s now listed because the proprietor of a number of totally different types of digital artwork collectible. 

The NFT sale isn’t the primary time Cuban has embraced the decentralized world working on Web3. 

In a sequence of Twitter posts this month, he talked about the Dot-com bubble in reference to cryptocurrencies, suggesting that Bitcoin, Ethereum, and some different currencies may “be analogous” to the long-term winners of the period.

He additionally warned that “many fortunes will likely be made and misplaced.” 

He then caught the eye of many within the crypto area by mentioning Aave, a DeFi lending protocol working on Ethereum. Although Aave is among the most used DeFi protocols, it’s nonetheless comparatively unknown exterior of core crypto fans. 

He went on to disclose that he owns and makes use of cryptocurrencies. “I don’t assume individuals understand I attempt to take a look at and use all these items and have for years,” he mentioned. 

Now that he’s made his first entry into the NFT area, there might be extra Cuban-related crypto exercise on the horizon. 

Disclosure: On the time of writing, the creator of this function owned ETH and AAVE, amongst a variety of different cryptocurrencies. 

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