Explore NFT applications, promote digital art display platforms! Dallas Mavericks owner Mark Cuban: NFT will disrupt traditional ticketing systems

Despite once likening the value of Bitcoin to "not as good as a banana," Mark Cuban has been actively promoting the adoption of cryptocurrencies since entering the NFT space. Recently, he stated on a show, "NFTs will disrupt traditional ticketing systems," and has created an online digital art gallery called "Lazy.com."

NFT Will Disrupt Traditional Ticketing Systems

NBA Dallas Mavericks owner Mark Cuban participated in The Delphi Podcast on the 26th of this month, where he mentioned his ambition to disrupt global industries with NFTs. Cuban stated:

What I study is, what can I disrupt with NFTs? And if I can disrupt something, then I can make a lot of money. Using NFTs as tickets is a great opportunity to disrupt the traditional ticketing mechanism. From the team's perspective, this may be beneficial as the team could earn additional revenue every time a ticket changes hands.

Cuban pointed out that they are working on how to turn tickets into NFTs, allowing fans to easily purchase and resell them, while the team can also earn royalties from it.

However, this is no easy task. Cuban emphasized that there are still many factors to consider, including the improvement and optimization of the overall ticketing system to ensure that all stakeholders benefit. He used this season's tickets as an example:

Out of the 41 home games before the playoffs, there may be one or two games that are sold out and have higher prices. Many season ticket holders sell those tickets to cover the cost of their season tickets. How do we balance all of this, maximize the team's revenue, and increase the value for season ticket holders? These are the things we need to consider.

Investing in OpenSea, Launching Own NFT Platform

In addition to promoting a ticketing mechanism based on NFTs, Cuban also participated with a16z in the $23 million Series A funding round for the NFT trading platform OpenSea.

Furthermore, Cuban launched an online digital art gallery called "Lazy.com." He told The Block:

People are curious about what others collect, and although you can create NFTs on many platforms, there wasn't a super easy way to show off your collection of NFTs before Lazy.com.

https://twitter.com/mcuban/status/1373024138692939777

Vitalik Buterin's Expectations for NFTs

Similar to the previous DeFi frenzy, Ethereum founder Vitalik Buterin has also noticed the recent hype surrounding NFTs. In a blog post, he directly addressed Elon Musk's previous sale of an NFT:

When Musk sold his NFT tweet, making an extra $1 million for himself doesn't create any social value. If NFTs ultimately become a casino where the rich get richer, it will be a very boring outcome.

However, Buterin praised Twitter's founder for donating all proceeds from his NFT tweet, calling it a "quite admirable first step."

Buterin emphasized that besides the hype, he hopes for progress in the compliance of NFTs, which could further fund social welfare causes, including redistributing a portion of NFT revenues to charities and influencing other aspects of society.