Billionaire Mark Cuban Seeks Crypto Utility For Trading

CNBC’s Jan. 11 interview with the billionaire investor revealed that he searches for utility when researching crypto investments. In a tweet on Tuesday, he said that tokens trading were the least important aspect of crypto.

He stated that he prefers decentralized platforms that leverage smart contract technology and DAOs.

The most important aspect of crypto is tokens trading. The ability to create businesses using decentralized platforms that leverage smart contracts, validators and DAOs gives you the unique ability to disrupt industries and offer more efficient business processes.

— Mark Cuban (@mcuban January 11, 2022

Mark Cuban on NFT and Ethereum Maxi

CNBC interviewed him about the fact that this mantra is applicable to all investors, and what they should be looking for when investing in crypto-related projects.

He said that tokens that are able to accrue value through the utility that their platform creates can be valued as stocks, before they are added:

“Think eth/polygon tokens that are required to transact on these networks. To leverage the apps you choose, they must be purchased. Tokens will be valued by networks that use popular apps.

Cuban is a big believer in smart contracts and Ethereum. He previously described himself as an “Ethereum maxi”, in November. Cuban is also a big fan of non-fungible tokens, with his portfolio heavily focusing on NFTs.

It also includes investments in Fabrica, NFT Genius and Fabrica. A number of DeFi and Layer-2 scaling networks, such as Polygon, DeFi Alliance, Arbitrum, Injective Protocol and Polygon, are also available for investments.

Cuban doesn’t like the Metaverse land. He said that he wasn’t a fan of investing in virtual land and didn’t know if these were collectibles.

“They may someday have some utility, if there are enough users in the metaverse and the location is required for something. “Until then, I have avoided.”

DOGE: Big Profits

Cuban is a big fan of Dogecoin but prefers Bitcoin. CryptoPotato reported that a Shark Tank investor said Bitcoin cannot be considered a hedge against inflation and “never will be.”

He believes that Dogecoin is a better option as a payment network than DOGE, echoing the views of Elon Musk who, while he pumped DOGE in early-2021, actually invested in BTC.