Mark Cuban, the owner of the Dallas Mavs, is pretty well-known around the world for his smart business decisions. The NBA world was recently shaken by the fall of a popular Crypto exchange company FTX. Many NBA sponsorship deals were canceled in the wake of the incident. Teams like the Miami Heat had to cancel their deal with the company over naming rights of their arena, causing a huge stir. Meanwhile, other NBA teams are under the watchful eye of the fans in these conditions.

Recently, Mavericks owner, Mark Cuban, came out explaining his persistent interest in crypto in general, and why he thinks there’s still a future in it. The Mavs boss explained his thought process in a lengthy Twitter thread.

Mavs owner Mark Cuban explains his unflagging interest in Crypto

The self-made Billionaire is very popular on social media, mostly due to his appearance on the popular TV show ‘Shark Tank’. When he talks, everybody tends to pay attention. And this time he had a lot to talk about the current condition of the Crypto industry. Due to the recent failures in crypto exchanges, NBA fans would naturally be wary of their teams’ involvement in the industry. 

Billionaire Mavericks’ Owner Mark Cuban Clarifies FTX Position After Shark Tank’s Kevin O’Leary Supported Stephen Curry’s Crypto Sponsors

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However, Cuban candidly explained his stance on Twitter mentioning all the things that he foresees with the industry. The Dallas Mavericks owner compared the disinterest in Crypto to the early days of streaming. He explained that the complicated process of streaming in the early days of the Internet would make people a laughing stock. Implying that the Crypto industry has a place in the future, just like streaming does now.

The Billionaire mentioned that ‘Smart Contracts’ have a place in the future, in developing valuable applications. His example of streaming suggested that it became hugely popular in 15 years, and ‘Smart Contracts’ are already 5 years old. Suggesting that the future is not far away. 

The Billionaire mentioned the need for a ‘ubiquitous’ application under such circumstances. Implying that a widespread app is needed to move closer towards the goal.

Crypto crash’s aftermath on NBA

The crash of the popular Crypto exchange FTX has led to a lot of turmoil in the world of the NBA. The Miami Heat have terminated their contract with the company for their Arena naming rights, costing them millions.

Watch This Story: Most expensive fines in NBA history slapped on Mark Cuban, Minnesota Timberwolves, and others

Other teams like the Golden State Warriors and the Washington Wizards have lost their sponsorship contracts. Players like Stephen Curry held equity shares in the company, causing personal financial loss to the players involved with the company.