DOGE Bull Mark Cuban Talks Cryptocurrency, NFTs, and More in Community AMA
On January 29, businessman and broadcaster Mark Cuban took to the X platform (formerly known as Twitter) to chat online with his audience and the cryptocurrency community. Related Read: Dogecoin Price Prediction – DOGE Bulls Target a Fresh Rise to $0.095. What projects does Mark Cuban invest in? The Ask Me Anything (AMA) session asked Cuban for his thoughts on various cryptocurrency-related topics. In particular, his response to the community signaled the importance of project utility to Shark Tank investors. When asked about his thoughts on cryptocurrencies, Cuban said, “I hate speculation, but I like it when there is utility,” and similarly, in response to another question about on-chain finance, he said, “We need new ideas that have more utility. “I answered. He also explained that Bitcoin’s Layer 2 solutions aimed at scaling are “not important at all” and emphasized his belief that “what matters are applications that have their own utility.” Cuban believes blockchain technology is here to stay, but he identifies two challenges. The first concerns the existence of “too many blockchains” and the second is the lack of applications that make this technology “essential” for every generation. For this reason, the entrepreneur believes that the future of blockchain technology is open, but reaffirms that “it will always have its place.” However, he does not consider blockchain security to be one of the biggest issues. During the AMA session, the Shark Tank investor listed Polygon (MATIC) and Injective (INJ) as two projects of interest besides the flagship cryptocurrency and largest altcoin. Asked about his concerns about the project and crammed growth, Cuban said he wasn’t confident but “hopes it does well” as an investor. The Doge community chimed in with questions, and Cuban admitted that he loves being a part of the community. He also confirmed that the Dallas Mavericks continue to accept DOGE as a form of payment. I don’t think about it — Mark Cuban (@mcuban) January 29, 2024 What new technologies will thrive in the next decade? Regarding non-fungible tokens (NFTs), investors explained that “in most cases, they are for collection, but they can be used for other purposes,” and suggested that they should be purchased for collection rather than speculation. Likewise, he expresses the difficulty of selling these assets because he has not yet found “an attractive aspect.” Likewise, Cuban has stated that he is “not a fan” of tokenizing assets such as sports teams or real estate because he does not think it “adds enough value.” Entrepreneur — Mark Cuban (@mcuban) January 29, 2024 Sharing his views on the future of emerging technologies, Cuban asserted that artificial intelligence (AI) will have a major impact on entrepreneurship over the next decade. He said, “There are probably two types of companies in America. People who are good at AI and everyone else.” Lastly, he constantly asked for his thoughts on X owner and Tesla founder Elon Musk. He addressed their relationship by simply replying: “I don’t have a good relationship with that person. I don’t know him. He likes talking nonsense here and so do I.” Related Read: Dogecoin Founder Hits Back at Ripple CEO: “DOGE Is Essentially the Same as BTC” DOGE is trading at $0.08139 on the hourly chart. Source: DOGEUSDT from Tradingview.com Featured image from Unsplash.com, chart from Tradingview.com
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