Mark Cuban offloads 14 NFTs from his collection in two days

Billionaire and investor Mark Cuban hit the spotlight for offloading part of his NFT collection. On-chain data from OpenSea dictates that a wallet, markcuban.eth, associated with the former NBA Dallas Mavericks owner, offloaded 14 NFTs in the past two days after two years of inactivity.

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Mark Cubansoldhis Pudgy Penguins NFT #6329, valued at 9.065 ETH (or $30,000 at the time of the sale). He also disposed DeepBlack #92, valued at 0.4944 WETH, or approximately $1667 at the time of this publication. Cuban also listed the Dallas Mavericks-themed non-fungible digital assets from the Proof of Culture series for 15 ETH (approximately $50,194).

Mark Cuban still holds 1.6k collectibles

Despite the sales, Cuban’s wallet still holds a large number of NFTs, roughly 1600 items worth more than 1,900 ETH, or upwards of $6 million. Mark Cuban is renowned in the NFT arena for his advocacy of the industry and his strong position on the future of digital assets since 2021.

Some of the digital assets in his wallet include Mintable and CryptoSlam. It is still unclear if more activity will be witnessed in Mark Cuban’s wallets. Mark’s recent criticism of OpenSea’s royalty payment policies showed his continued support for the industry.

Mark Cuban’s move to unload some of his non-fungible virtual assets coincided with the recent NFT market dip. According to the Blur NFT marketplace data, BAYC led the pack with a double-digit drop of 22% in the last 30 days, shedding off $13.10 million as of June 18. The price of BAYC dropped significantly to historic lows of less than 10 ETH.

The NFT market continues to dip

Datafrom CryptoSlam, an NFT on-chain data explorer, also revealed that the number of unique NFT buyers, sales, and sellers dropped in the past 30 days. The data confirms that digital collectibles are facing intense uncertainties in the current market.

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Between May 1st and June 1st, the number of unique buyers, unique sellers, and NFT sales dropped by more than 309,000, 260,000, and $236 million, respectively. The crypto market has also seen a decline. Popular cryptocurrencies like Bitcoin, Ethereum, and Solana have experienced a sharp decline of more than 40% in trading volume in the preceding 30 days.

Cryptopolitan reporting by Collins J. Okoth