Mark Cuban says DeFi and NFTs are the future

Tech billionaire Mark Cuban just did a detailed interview where he shared his thoughts on everything from Bitcoin and Dogecoin to DeFi and NFTs.

Decentralized finance and non-fungible tokens, respectively.

The Dallas Mavericks owner who sold his audio streaming startup to Yahoo during the dotcom frenzy also discussed the cryptocurrency boom, and predicted how blockchain will revolutionize how we do business in the future.

He was a guest on the Blockchain & Booze with Adam Levy show this week.

Recapped here is an array of highlights from the conversation, starting with stocks and cryptocurrencies, then moving onto Bitcoin and blockchain, a rather candid discussion about Dogecoin, followed by his thoughts on DeFi and NFTs, and capped off by his view on Shark Tank for good measure.

The show and the recap are both worth a look, but here are a few important bits.

Starting with Bitcoin, where he says that before the days of DeFi, Bitcoin had very limited utility. Now, new possibilities have opened up with the advent of decentralized finance where anyone can be their own personal banker.

Dogecoin, he says, is high on entertainment value, and when you take that and add it to the community aspect of it, it becomes and amazing package. It’s still a coin designed to do nothing, about nothing, like Seinfeld.

On DeFi, the lack of friction is the real game changer with this technology. It is here to stay, and companies will start have a dedicated crypto manager or a chief DeFi officer in the very near future.

By the same token (pun always intended), he shares his opinion on why NFTs are taking off. The collectible side of this technology is just a smidgeon compared to its ability to monetize corporate IP and art. This is going to be its major application.

As said, the whole affair is an excellent deep dive into the state of blockchain and cryptocurrencies right now, and what the future holds for this uncharted space.

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