Mark Cuban offloads 14 NFTs from his collection in two days
Billionaire and Shark Tank investor Mark Cuban has recently shaken the crypto ecology by offloading 14 non-fungible tokens (NFTs) from his collection. On-chain data from OpenSea indicates that wallets linked to Cuban, particularly the wallet markcuban.eth, contain around 1600 NFT items. Out of these, 14 were sold in the past 48 hours, marking the first significant activity in two years.
Among the NFTs sold, Cuban’s Pudgy Penguins NFT #6329 fetched 9.065 ETH (approximately $30,000 at the time of the sale). He also sold DeepBlack #92, valued at 0.4944 WETH (around $1667). Additionally, he listed Dallas Mavericks-themed digital assets from the Proof of Culture series for 15 ETH (about $50,194).
Despite these sales, Cuban’s wallet still holds a substantial number of NFTs, totaling roughly 1600 items worth more than 1,900 ETH (upwards of $6 million). Mark Cuban has been a prominent advocate for the NFT industry and has held a strong position on the future of digital assets since 2021. His collection includes digital assets from platforms like Mintable and CryptoSlam.
Cuban’s recent activity in the NFT market coincides with a broader downturn in the NFT sector. The Bored Ape Yacht Club (BAYC) NFTs, a leading collection, dropped below 10 ETH last week, leading to a 22% decline in value over the past 30 days, shedding $13.10 million as of June 18. This decline has been part of a larger trend, with data from CryptoSlam indicating a significant drop in the number of unique NFT buyers, sales, and sellers over the past month.
Between May 1st and June 1st, the NFT market saw over 309,000 fewer unique buyers, 260,000 fewer unique sellers, and a $236 million decrease in sales. Additionally, the broader crypto market has experienced a decline, with popular cryptocurrencies like Bitcoin, Ethereum, and Solana seeing a sharp drop of more than 40% in trading volume in the last 30 days.
Mark Cuban’s decision to sell part of his NFT collection amid this downturn has sparked concerns within the NFT community. His recent criticism of OpenSea’s royalty payment policies highlights his ongoing support for the industry despite the current market uncertainties.
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