Mark Cuban at ‘On with Kara Swisher’ Live Featuring Mark Cuban as part of SXSW 2024 Conference and Festivals held at the JW Marriott Austin on March 10, 2024 in Austin, Texas.
For the first time in two years, Mark Cuban is selling a portion of his collection of non-fungible tokens — and he's already made a little over $39,000.
From June 22 to June 24, the billionaire sold several of his NFTs on OpenSea, the world's largest NFT and crypto collectible marketplace, for prices ranging from around $23 to several thousands of dollars. Most notably, he sold his Pudgy Penguin NFT for $30,950.
Cuban could rake in even more money for his digital collectibles. He's selling his #MFFL Hashtag NFT for 15 ETH, which would be around $52,043 dollars, and his Deuteronomy 25:4 Bible NFT for 5 ETH, which would be around $17,347, as of July 1.
Cuban has been a longtime collector of the virtual tokens and still has nearly 1,600 items in his cryptocurrency portfolio.
In 2022, he said NFTs were his gateway into the world of cryptocurrency. They introduced him to other web3 innovations such as smart contracts, which are digital contracts that operate according to "if/then" commands; if X, then execute Y.
However, it's important to note that Cuban's NFT sales aren't the norm.
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Although he may rake in nearly $100,000 from selling his NFTs, the average collector or investor may not earn a similar windfall if they sell their own.
Money Report
Like other physical collectibles, such as comic books or postage stamps, NFTs may hold sentimental value to the collector. But ultimately, they're only worth as much as the next collector is willing to pay for them, which can be difficult to predict.
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