Here’s Why Mark Cuban Is the Top Influencer in NFTs

Studies show that almost everyone trusts Mark Cuban when it comes to NFTs.

Key Point

• Mark Cuban is NFT’s top influencer for different types of people.
• Cuba quickly discovered the potential for these digital ownership certificates.
• No matter how much you trust influencers, it’s important to investigate for yourself.

Last year, non-fungible tokens (NFTs) stole the show as more and more people began to engage in this new way of owning items online. And as people search for reliable information about these new and mysterious products, Mark Cuban has emerged as a top influencer in almost every category.

With a billionaire investor, according to a Time2play study Shark tank Judge Mark Cuban is the most popular influencer in news and advice and the second most popular NFT influencer on social media.

The survey categorized NFT influencers by gender, age, political party, and income. Cuba is at the top of almost every group. He is trusted by Democrats and Republicans, men and women, most age groups, and people in almost every income group.

According to the survey, other top NFT influencers are:

• John Leisure: Former T-Mobile CEO got a lot of attention when he spent $ 888,888.88 on NFTs.
• Beeple: Real name Michael Winkelman, a digital artist, is renowned as one of the most influential NFT creators. Most notably, Christie’s auctioned one of his works for about $ 70 million.
• Anthony Pumplino: Entrepreneurs and investors are the founders and partners of Morgan Creek Digital. His commentary on the crypto industry makes him a big advocate online.

This is why people trust Mark Cuban in NFTs

Simply put, Cuba was one of the first well-known investors to start talking about NFTs. That’s long before NFTs became today’s $ 1 billion business. He says there was a light bulb moment when he created the first NFT.

The easiest way to understand an NFT is that it is a digital certificate of ownership. It can be applied to all kinds of items, from art and music to in-game items and sports goods. Creating an NFT is the process of creating its digital certificate and recording various information on the blockchain.

read more: Top crypto apps and exchanges

One of the reasons Cuba has seen so many possibilities in NFTs is how creators earn loyalty when NFTs are resold. This does not happen with all NFTs, and the person creating the NFT can choose to incorporate it. For example, an artist may state that every time a work is sold, 5% is paid. Cuba was excited because physical items couldn’t do this.

A well-known investor has invested in a variety of NFT projects, including his own NFT gallery project called Lazy.com. With Lazy, you can easily brag about your NFT. Cuba has also invested in top NFT marketplaces such as OpenSea, Mintable and Nifty Gateway.

Don’t rely solely on influencers

You can learn a lot from people like Mark Cuban. As you start learning more about NFTs and cryptocurrencies, create a list of trusted people online. But no matter how much you trust a particular individual, you have to investigate for yourself.

There are several reasons for this.

• Your financial situation may vary. Investment decisions are highly dependent on your personal situation, and what is right for a millionaire investor may not be right for you. When investigating an NFT or crypto project, one thing to consider is how it fits into your investment strategy, existing portfolio, and risk tolerance.
• Influencers don’t always understand it correctly. Even Cuba is the victim of crypto fraudsters. Last year he bought TITAN tokens, but the project turned out to be rugged and Cuba lost its investment.
• Some influencer accounts are fake. If the influencers you admire suddenly start trying to push investment opportunities that you can’t miss on social media, your account is likely to be fake. Look for unusual spikes in followers, strange spelling or grammar, or unusual product promotions.
• Some celebrities get paid for their pump projects. Cuba rarely spends money to promote coins, but other celebrities and influencers do. For example, in 2018, the SEC accused boxer Floyd Mayweather Jr. of shilling coins and not disclosing that he was paid. Recently, Kim Kardashian was rewarded for promoting EthereumMax (EMAX), but included “#AD” to indicate that it was a paid promotion.
• The information will change. This is a fast-moving business, and information that was accurate three months ago may not be accurate today. It’s always helpful to understand why influencers have provided specific advice. Then you can see if that is still the case.

The technology behind NFTs can change the way you own online, but the industry is still in its infancy. Cuba’s dominance as an NFT influencer may indicate that there are not many reliable sources yet. This makes it even more important if you are considering investing in an NFT.