Billionaire investor and entrepreneur Mark Cuban has shown interest in a novel crypto real estate project that aims to use blockchain technology to create new cities in America. Cuban responded to a tweet by investor Jason Calacanis, who proposed building 10 new cities with one million housing units each, inspired by Saudi Arabia’s planned megacity Neom.
So you are saying you will have written a smart contract on a ZK L2 which will check for a construction permit being issued , which in turn will create and send me an NFT that unlocks and delivers 250k in USDC when the oracle checks property and utility records and…
— Mark Cuban (@mcuban) November 26, 2023
Cuban suggested using a smart contract on a zero-knowledge layer-2 scaling solution, which would allow for privacy and efficiency in verifying construction permits and issuing funds. The smart contract would also generate a non-fungible token (NFT) for each unit to be built, which would represent the developer’s right to receive 250,000 USDC, a stablecoin pegged to the U.S. dollar.
Mark Cuban Shares His Thoughts on Using Smart Contracts and NFTs
Cuban’s vision of blockchain cities reflects his advocacy for practical and life-enhancing applications of cryptocurrency beyond speculation. In an interview with WIRED in October, Cuban expressed his views on cryptocurrency. He emphasized that the true potential of cryptocurrency lies in its ability to develop new applications that simplify and enhance our lives. However, he pointed out that the crypto space is yet to introduce an application that is user-friendly and appealing to the average person, such as a grandmother.
Cuban is not new to the crypto space, as he has invested in several projects and platforms, such as Polygon, OpenSea, and Crypto.com. He is also a vocal supporter of Dogecoin and Ethereum and has integrated crypto payments into some of his businesses, such as the Dallas Mavericks and the Shark Tank.
However, Cuban’s journey in the cryptocurrency landscape has also faced challenges. In September, he became the victim of a cryptocurrency scam, losing nearly $870,000 worth of Ethereum. He realized the scam only after the disappearance of 5 Ethereum from his wallet, valued at about $8,175 at the time.
As per the latest data from CoinMarketCap, Bitcoin (BTC) is currently priced at around $37K, experiencing a slight decrease of 1.46%. Similarly, Ethereum (ETH) is trading at $2,050, marking a 1.54% drop in the last 24 hours.