Mark Cuban proposes to replace books with NFT tokens

According to the billionaire, non-fungible tokens will benefit both students and authors with publishers

03.10.2022 - 11:10

247

1 min

What’s new? In an interview with Forbes, billionaire Mark Cuban said that NFTs could be a great substitute for some books, especially textbooks. In his view, non-fungible tokens will help students recoup money for a resold book. In addition, Cuban noted that NFTs would allow authors with publishers to receive a set royalty fee. The billionaire stressed that this is not possible with physical books.

Interview by Forbes

What else did Cuban say? The entrepreneur believes that blockchain technologies and NFTs will help more than just the book industry. According to Cuban, they can make health insurance more efficient and fair. He said that blockchain could be used to create a pre-approval platform for insurance claims with thousands of validators who would be rewarded for their work.

Mark Cuban is an American entrepreneur and owner of the Dallas Mavericks basketball club. He is a co-founder of HDNet, a shareholder in Magnolia Pictures, a movie distributor, and in AXS TV, an entertainment channel. As an investor, he is a participant in the reality show Shark Tank. As of 2022, his fortune is estimated at $4,7 billion, according to Forbes.

Previously, Cuban called buying real estate in metaverses “the dumbest” idea ever. The billionaire noted that there is no scarcity of land in the virtual property market, unlike in the real world.

Author: