From carbon offsets to artificial intelligence, Cuban’s list highlights the diversity of crypto.
- Mark Cuban has invested in Injective Protocol, Klima DAO, ApeCoin, Blockto, Alethea Artificial Liquid Intelligence Token and Ocean Protocol.
- Do your own research before investing in any asset, especially high-risk crypto projects.
- Cuban says the giants Bitcoin and Ethereum remain his most profitable crypto investments.
The recent price decline hasn’t dampened Mark Cuban’s enthusiasm for crypto, even if it’s popular Hai tank the judge is concerned that there is not enough innovation in the market. In an interview with Altcoin Daily, the owner of the Dallas Mavericks emphasized that just because a project is crypto-related, it still needs a solid business case. “To be a real business, you have to be a real business,” he said. “Crypto doesn’t change any of that.”
The billionaire investor says crypto caught his eye because he’s always looking for new ways to use technology. He has long been excited about the potential for smart contracts to disrupt existing businesses. So what cryptos is he excited about at the moment? Here are six altcoins that Cuban says he owns:
1. Injection protocol (INJ)
Injective Protocol is perhaps the most accessible altcoin on Cuban’s list as it is available from Gemini, Kraken and Binance. Injective is a smart contract crypto aimed at financial applications. The decentralized protocol has advanced features such as margin and derivatives trading and operates across different blockchains. In Cuban words: “Not an easy business, but they have a chance.”
2. Climate DAO (CLIMATE)
Klima offers tokenized carbon credits. Cuban points out that it is easier for him to compensate for carbon emissions through KLIMA tokens than in other ways. He says that if it doesn’t pay off as an investment, the worst-case scenario is that he would still have offset a certain number of tonnes of carbon.
3. ApeCoin (APE)
ApeCoin is the native token of the Bored Ape Yacht Club (BAYC), the celebrity NFT collection that grants owners exclusive membership. Cuban says he owns APE tokens, although he’s not a fan of the BAYC land sale. He branded buying property in a metaverse, “Super, mega, immaculately stupid”
4. Blockto (BLT)
Blockto is a cross-chain smart contract crypto wallet that Cuban invested in originally in 2021. He is a strategic advisor to the project, which allows people to access crypto, NFTs and dApps on Flow (FLOW), Solana (SOL) , Binance Smart Chain (BSC), Polygon (MATIC), Avalanche (AVAX), Ethereum (ETH) and Tron (TRON) blockchains.
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5. Alethea Artificial Liquid Intelligence Token (ALI)
Alethea takes NFTs to another level. The project builds intelligent NFTs that have some form of artificial intelligence (AI) personality. Cuban says that integrating AI into NFTs to create “virtual humans” could lead to some unique applications.
6. Ocean Protocol (OCEAN)
Ocean says that data is the “new asset class” and that it allows people to buy and sell data using tokens. It fits with various web 3 projects that move data ownership from large companies to individuals.
Should you buy?
If you want to follow Mark Cuban and pick up some of these smaller cryptos, be aware that he probably isn’t in the same financial position as you. Cuban is a billionaire and can afford to take chances on high-risk projects that may not succeed. The golden rule of crypto investing is to only invest money you can afford to lose.
Remember that Cuban himself said that Ethereum (ETH) and Bitcoin (BTC) are his most successful crypto investments. Smaller established cryptos can generate higher percentage gains than established crypto giants, but that potential for higher gains comes with a corresponding risk.
Do your own research and think about how these projects might fit into your wider portfolio. Many experts suggest that crypto only make up a small percentage of your overall investments, and that higher-risk altcoins make up a small percentage of your crypto holdings. It’s also important to try to evaluate them through a long-term lens – think about how these altcoins might perform over the next five to 10 years or more.
Finally, there is a practical problem. Many of these tokens are not available from the top crypto exchanges, which means that it is not easy to buy them. To buy KLIMA, for example, you need to use QuickSwap, a decentralized exchange on Polygon’s blockchain.
The bottom line
Ultimately, if a successful investor like Mark Cuban has picked these projects out of the thousands of cryptocurrencies on the market, they may be worth a closer look. But don’t buy them just because Cubans did. Take your time, do your own research and make your own decisions based on your financial situation.