The Dallas Mavericks have seen significant sales since accepting dogecoin for merchandise payment in March. According to Mark Cuban, team owner. Cuban announced Thursday that the Mavericks will offer special pricing for dogecoin-paying customers during their summer sale.Although dogecoin was initially created as a joke, its creators never intended it to be taken seriously. Cuban claims it has a unique use-case over other cryptocurrency.Cuban told CNBC Make It that it can be used to acquire goods and services. "The doge community is the strongest when it concerns using it as an exchange medium."Cuban tweeted in April that dogecoin was the "one" coin that people use to transact, although he previously stated that ether can also be used as digital currency.In April, Cuban explained to Ellen DeGeneres that Ethereum was a digital currency. "Then you get dogecoin which is just a lot of fun. It's weird because it has gone from being a joke about cryptocurrency to becoming a digital currency.DeGeneres was told that Cuban views bitcoin, the most valuable cryptocurrency by market capital, more like a digital version of gold than a currency. Because bitcoiners tend to hold their stakes for the long-term, and see it as an asset that will appreciate,However, ether and bitcoin can be used as currency. El Salvador was the first country in June to accept bitcoin as legal tender. It can now be used for payment of goods and services. Although the bitcoin community expects widespread adoption of the cryptocurrency, critics argue that it is too volatile and risky to be used as currency.It is widely used to pay digital assets such as NFTs or nonfungible tokens. This industry is now worth multibillions of dollars.Financial experts remain skeptical about cryptocurrencies in general due to their speculative nature. They advise that people only invest what they are able to afford to lose. Dogecoin is a cryptocurrency that lacks the same technological advancement and scarcity as bitcoin. Experts advise caution when investing in it.Cuban admitted in the past that dogecoin was not the best investment despite his bullish outlook. Cuban still owns dogecoin along with his 11-year old son Jake and other altcoins like ether.Disclosure: CNBC holds the exclusive off-network rights to Shark Tank.Register now to learn more about your career and money with our weekly newsletterDon't miss:
