We’ve heard that line hundreds of times from serial entrepreneur, Mark Cuban on ABC’s Emmy-award winning show Shark Tank. The line is almost as famous as Kevin O’Leary’s line:

“You’re dead to me.”

But when it comes to cryptocurrency and blockchain technology, Cuban is definitely ‘in’.

Over the last few years, Cuban has made subtle, but significant moves when it comes to intertwining sports and crypto. It is a 180-degree shift for Cuban, who was publically skeptical of bitcoin – and cryptocurrencies as a whole.

In June of 2017, Cuban tweeted his opinion on Bitcoin calling it a bubble. However, he didn’t completely diss crypto as he applauded there was an inherent value in blockchain technology digital currency is based on.

Later that year, in an interview with Bloomberg, Cuban clarified his stance on Bitcoin, describing it more as a commodity or asset, rather than a currency:

“It’s interesting because I think there’s a lot of assets, and their value is based off supply and demand. With most stocks, there’s no intrinsic value because you have no true ownership rights, no voting rights. You just have the ability to buy and sell those stocks. They’re like baseball cards.

“I think Bitcoin is the same thing,” Cuban added. “Its value is a function of supply and demand…it doesn’t really do anything else. I have bought some. I bought it through an ETN based on a Swedish exchange because that gave me liquidity.

I’m also involved with ICOs, token sales. Because I think blockchain is a great platform for future technology, future applications. Just like the net and streaming created multiple great companies, I think blockchain will as well.”

One of the token sales Cuban participated in was Unkoin Gold, a cryptocurrency designed to used for betting in esports and other events. When it comes to gambling in sports, Cuban is quite bullish.

“It doubled the value of the professional sports franchises in a second,” Cuban told ESPN when the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018. “It will increase interest, it will add to what happens in our arena and in stadiums. It will increase the viewership for our biggest customers online and on TV. It helps traditional television because it’s much lower latency, whereas online, because of cachet, it’s much higher latency.”

If you pay close attention to Shark Tank episodes, you’ll find that many companies Cuban invests in usually have a way to add value to his team the Dallas Mavericks.

Following his investment in the 2017 Unikoin ICO, the Mavs leaped crypto by bringing on Lympo as an official sponsor. Lympo’s token is rewarded to users who track their workout progress through the Lympo app. Essentially, you are being paid to workout…how about that for motivation?

Lympo now has the rights to the Mavs’ practice jersey (2.5×2.5″ patch), and the naming rights to the practice facilities – Lympo Training Facility and the Lympo Training Court.

On the Maverick’s game jerseys, you’ll find the company 5Miles, a blockchain-powered e-commerce platform that was founded in the Dallas area.

We’re lucky to partner with a locally-based company that is innovative and growing exponentially,” Cuban said in 2018. “We’re excited, too, that the Mavs brand now can accept payment for single and season tickets with 5miles’ blockchain technology-based CyberMiles Tokens (CMT).”

It’s fascinating to see Cuban’s progression when it comes to his stance on blockchain and cryptocurrency since his skeptical tweets in 2017. It’s been proven that celebrity and athlete endorsements of cryptocurrency are speeding up the pace of mass adoption.

Cuban’s turnaround, when it comes to adopting crypto should be a beacon to other high-profile entrepreneurs. Especially those in professional sports.

“And for those reasons…I’m in”

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Mark Cuban is Becoming a Leader for Cryptocurrency in Professional Sports appeared first on Coinbound.

Nothing is sexier than saying ‘our project is integrating blockchain technology and utilizing smart contracts in order to create seamless and secure transfers of data or currency’.

There is a stigma that only a small percentage of people in American know – or care – about bitcoin. That most people claim it’s a hoax or a waste of time and money. But let’s flip that stereotype on its head.

Coinbase conducted a study that shows, in the past year, people in America have Google searched ‘Bitcoin’ more often than the terms ‘election results’ (likely referring to the 2016 presidential election), ‘royal wedding’, and ‘Kim Kardashian’.

How about that? The American people are ‘keeping up with Bitcoin’ more than the Kardashians.

According to Coinbase’s study, 58 percent of Americans say they have heard of Bitcoin.

Now there are some concerns when it comes to Generation Z, people who are between the ages of 13-21. This generation had a front-row seat to the 2018 Bitcoin crash. Per a recent report from Business Insider, almost 52 percent said they were not at all likely to purchase cryptocurrencies in the next six months. A mere 11 percent said they were very interested in purchasing cryptocurrencies over the same time period.

It is curious how much of an impact Facebook’s Libra crypto will have on a generation who has focused its social media attention to alternative platforms like Instagram, Twitter, and TikTok.

A positive reaction to Libra and Bitcoin’s rebound could right the ship when it comes to the opinions of Generation Z.

Blockchain Marketing and Professional Sports

sBetOne, the subsidiary of ICOx, is developing cryptocurrencies and blockchain-powered platforms for regulated online gambling in the United States.

sBetOne’s strategies include marketing through athlete and celebrity-focused sponsorships of their golf and esports betting marketplaces.

In addition to celebrity and athlete endorsements, sBetOne plans to roll out digital wallets and branded cryptos for Celebrities and Brands in the sports betting space. Doing this could lead to lower transaction costs and greater customer data management when it comes to sports betting.

Engaging the likeliness of celebrities and big-name brands for these digital currencies should allow sBetOne to reach mainstream status fairly quickly.

Mass adoption took another step forward in major professional sports as Litecoin became the Official Cryptocurrency of the Miami Dolphins (NFL) this week.

Litecoin has played in the sports marketing space before but a deal with the NFL is a massive step forward for the crypto industry.

“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real-world use cases in ways previously not possible,” said Charlie Lee, the creator of Litecoin, in a statement. “We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”

The partnership includes in-game branding and sponsorship within Hard Rock Stadium. Additionally, fans will have the ability to pay for 50/50 raffles tickets in Bitcoin or Litecoin – half of the money raised goes towards the Miami Dolphins Foundation and its charitable causes.

America is Keeping Up with Bitcoin More than the Kardashians appeared first on Coinbound.