Bijie.com reports:
Celebrity billionaire Mark Cuban has unloaded a dozen dormant non-fungible tokens (NFTs) within days.
Cuban sold a total of 14 NFTs over the weekend and Monday, with the most valuable being a “Pudgy Penguin” token, which was sold for nearly 31,000 Ethereum (ETH), according to the description on OpenSea by the Shark Tank star.
The billionaire also listed two unsold NFTs, including an “MFFL” token worth over $51,000 and a “Deuteronomy 25:4” token worth over $17,000, which is the second-largest crypto asset.
Prior to this weekend, Cuban’s most recent NFT activity on OpenSea was token sales nearly 2.5 years ago. The Shark Tank star had previously expressed optimism about the industry, stating in an interview with Forbes in 2022 that NFTs offer significant opportunities in the publishing industry.
“NFTs are books, I think especially textbooks. Now, whether we can get textbook publishers to agree is another question, but the idea of kids buying books for class…the whole process of buying books. First, do you want new or used? Then, you lug these books back, and then at the end of the semester, because they’re only good for the time you’re in class, you make the decision, ‘Yeah, I’m going to sell it. How am I going to sell it?’ Do I ship it? Do I take it to a bookstore?’ It’s just a pain, and in the digital world, it’s ridiculous.”
“With these NFTs, NFTs allow you to have a royalty, so that when that book is resold, the author, the publisher, and everyone else involved gets a fixed royalty. So that means the publisher who created that book continues to get compensated, whereas when a physical book is sold and resold, they have to hope that book falls apart so they can sell a new one. So I think it’s a great application.”
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