Billionaire Mark Cuban has joined fellow NBA team owners Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Renadive and Ryan Sweeney in exploring uses of blockchain for the NBA.
One of the earliest adopters of the technology in the sports, the NBA is already licensing its intellectual property to the NBA Top Shot NFT game, which allows consumers to buy various non-fungible token assets.
Cuban is particularly interested in allowing teams to reap profits from second-hand sales and scalping and is now seeking the approval of fellow team owners.
Not just that, but NBA is known to be one of the more innovative leagues out there, with commissioner Adam Silver known to embrace innovation at every opportunity. Blockchain collectibles may be the easiest way to do that.
However, speaking to Sportico, Cuban cautioned that the recent success of the NBA Top Shot, and said he wants blockchain to play a much deeper role in the NBA.
Even though Cuban's own past has a few episodes where he criticized cryptocurrencies and blockchain, he is now inclined to embrace them.
His team, the Dallas Mavericks has completed over 20,000 Dogecoin transactions, making the team the world's largest $DOGE merchant.
Cuban will probably find worthwhile allies as Sacramento Kings owner, Vivek Ranadive is known for his interest in various technological solutions. As blockchain is already shaping up sports, the technology is also used in crypto sportsbooks.