Business guru Mark Cuban reportedly is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering.
One of the companies Cuban is invested in, Unikrn, is planning its own offering, and digital currency news site CoinDesk said Thursday that the billionaire entrepreneur intends to participate.
Cuban confirmed the report in an email to CNBC. "I want to learn more about them," he said.
I "haven't signed the paperwork yet. But it's likely it will happen," he added.
An initial coin offering is a fundraising process for blockchain-based projects that allows investors to own part of a project through a digital network token. Start-ups in the blockchain world often find this method of fundraising more attractive than venture capital funding for the speed and amount they can raise — on June 12 a project called Bancor raised the equivalent of about $150 million within two hours, CNBC explained.
Unikrn is an esports online betting site that uses a virtual currency and is scheduled to launch in September a sale of tokens based on ethereum, a rival of bitcoin, CNBC explained.
Cuban tweeted earlier this month that he thought bitcoin was in a "bubble" yet he acknowledged then that there is value in the blockchain technology behind the digital currency.
Meanwhile, author Terry Brock tells Newsmax TV that savvy investors should hop aboard the technology train before it speeds away into the horizon of advancement.
Brock tells told Sunday’s “The Income Generation Show” that not only are virtual currencies worthy of investment, but drones and 3-D printing are as well.
“I'm very optimistic on technology and where we're going,” he told David J Scranton.
“I look at things like drones. They are doing incredible things, particularly outside the U.S. The FAA is curtailing a lot that's going on in the U.S.,” said the co-author of “Klout Matters.”
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