Mark Cuban is bullish on the market and technology surrounding it.
Cuban tells CNBC Make It that he is excited to see new and unique applications that may replace existing business processes. Smart contracts can change the world.
There are smart contracts written in code. They are essential in powering DeFi, applications and NFTs, among other things.
Cuban has mentioned his belief in smart contracts many times. In the past, he claimed to be an "Ethereum maxi" because of the smart contract capabilities of the blockchain.
Cuban said that he likes ether more than bitcoin because he can see an unlimited number of applications that will change the world forever. To use them, you need to buy ether.
The owner of the Dallas Mavericks hopes to see other use cases for smart contracts develop in the next year. Cuban mentioned the potential to monetize carbon offsets using the blockchain.
Carbon offsets are supposed to balance your carbon footprint by funding environmental projects that reduce greenhouse gas emissions. Some experts have doubts about the effectiveness and reliability of carbon offsets.
Critics of the technology say it may have negative impacts on the environment.
Cuban sees the potential for carbon offsets to be verified and monetized using a combination of applications and token. I am talking to all of my companies that can create carbon offsets and discuss whether they can monetize them.
The idea of using a technology called a blockchain to monetize carbon offsets is still new. Experts recommend researching thoroughly before buying an investment. Experts warn against investing if you can't afford to lose.
Cuban is an avid investor in the space, with a portfolio of various digital coins, NFTs and investments in many blockchain companies.
CNBC has exclusive rights to the off-network rights to the show.
Get smarter about your money and career with our weekly newsletter.
The artist has made over $300,000 selling NFTs.
