In 1995, Mark Cuban and fellow Indiana University alum Todd Wagner launched the video portal Broadcast.com, which they sold to Yahoo for $5.7 billion in 1999.
He now owns the Dallas Mavericks of the NBA, as well as Magnolia Pictures, AXS TV, and hundreds of other minor businesses. Cuban has been a successful businessman for a long time — he began selling waste bags at the age of 12 and became a billionaire in 1999 after investing in multimedia platforms.
The Dallas Mavericks have launched a cashback incentives program to encourage Dogecoin merchandise and ticket purchases (DOGE). Customers who purchase more than $150 in Dogecoin in a single exchange will earn a $25 e-gift card to use in the Dallas Mavericks’ online store.
Cuban is a big supporter of Dogecoin, claiming in April that the coin, which began as a joke, is now “becoming a digital currency” due to its rising adoption rate.
Dogecoin beat other crypto assets in terms of item purchases, in his recent interview with sfgate.com the billionaire investor, who declared in May that “we sell more Mavs merchandise for DOGE on an average day than we would in a year with BTC or ETH.”
In 2021, Cuban rose to prominence in the crypto and blockchain space, backing startups such as Ethereum-based scaling solution Polygon, non-fungible token protocol Alethea AI, and NFT marketplace providers Genius, to mention a few. Dogecoin Core is a community-driven open-source project. Anyone can see, comment, and work on the program because the development process is open and transparent.
Dogecoin’s value rose approximately 300 percent in 72 hours on December 19, 2013, increasing from US$0.00026 to $0.00095 with a daily volume of billions of Dogecoins. This expansion came at a time when bitcoin and many other cryptocurrencies were suffering as a result of China’s decision to prohibit Chinese banks from investing in the bitcoin ecosystem.