Billionaire Mark Cuban Wants to Turn Mavericks Tickets into NFTs

Dallas Mavericks owner Mark Cuban has always been a bit of a financial maverick himself, so it’s no surprise that he’s taking an offbeat approach to generating new revenue that involves NFTs, or nonfungible tokens.

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As reported by CNBC on Friday, Cuban wants to turn Mavericks tickets into NFTs so fans can buy and resell them – and the Mavs can make royalties on the sales. NFTs are units of cryptocurrency on blockchains. They basically work as digital assets that can represent everything from art and virtual real estate to digital sneakers. NFTs can be bought and sold like any other asset.

Cuban told The Delphi Podcase that the Mavericks organization is eyeing options for turning tickets into NFTs, and envisions season ticket holders and the organization profiting from resales.

It makes sense that Cuban has an interest in NFTs. The billionaire entrepreneur has already bought cryptocurrency from Bitcoin, Ether and other exchanges, and he’s invested in blockchains such as Mintable, an NFT marketplace.

Cuban is also developing an online art platform, called Lazy.com, that lets users share and sell NFTs such as digital art works and collectibles, Business Insider reported last week.

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With Lazy.com, artists can showcase their work on a variety of online platforms, including social media and digital collectibles sites. So why is it called Lazy.com? Because Cuban wanted a “lazy way” for creators to showcase their NFTs, he told The Hill last week.

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This article originally appeared on GOBankingRates.com: Billionaire Mark Cuban Wants to Turn Mavericks Tickets into NFTs