Nikolas Sargeant
Billionaire entrepreneur Mark Cuban has recently sold a portion of his non-fungible token (NFT) collection after holding for approximately two years. The sale included a Pudgy Penguin NFT for over $30,000, along with several other digital assets.
According to OpenSea data, Cuban's wallet shows sales of over a dozen NFTs. The wallet, one of two associated with the Dallas Mavericks owner, still holds around 1,600 items. Cuban, known for his role on "Shark Tank," became heavily involved in NFTs and blockchain technology in 2021, investing in multiple startups and advocating for their adoption.
NFT Market Decline
This sale comes amid a broader downturn in the NFT market. In May 2023, global NFT sales dropped to $604 million, the lowest monthly total since October 2022. Ethereum, the leading blockchain for NFT transactions, saw sales fall to $164 million, its lowest since September. Bitcoin's NFT sales also declined to $160 million, the lowest figure since October.
Despite the market slump, some collectors remain optimistic. Blockchain collector Pranksy noted, "500 genuine replies, there is life in the old girl yet," suggesting continued interest in these digital assets.
