Story at a glance
- Non-fungible tokens are unique identifiers tied to blockchain technology, a decentralized database of records, and increasingly used by digital artists.
- Mark Cuban, owner of the Dallas Mavericks and an art collector, launched a digital art gallery for users to display NFTs.
- The NFT market is relatively new but rapidly growing, Cuban told The Block.
NFTs are all the rage these days, and even billionaire Mark Cuban is getting in on the game.
“People bought NFTs, they created them, they need a lazy way to show them off,” Cuban told The Block. “There really was not an easy way to do it before Lazy.com.”
For those who aren’t in the know, NFT stands for nonfungible tokens, which are units of data on blockchains, a growing lists of records linked using cryptographic codes.
What does this have to do with art? Well, since digital art can so easily be replicated online, creators have started using NFTs to mark the original and preserve its value. If all this sounds complicated, that’s because the technology is still relatively new and developing.
But Cuban, who made his fortune in tech and holds the Guinness World Record for "largest single e-commerce transaction," wants to make it easier for creators and collectors to display these original works.
“I wanted an easy way to show my NFTs and a way to put them in my social bios, my email signature, and any place I can stick a URL,” Cuban told The Block. “People are curious about what other people collect. There wasn’t a super-easy way to do it.”
So, he launched Lazy.com, "the lazy way to show off your NFTs." Users can sign up with an email address and a MetaMask wallet, which is a "crypto wallet" software available as an app or a browser extension. It’s tied to the Ethereum blockchain, the most actively used blockchain and second-largest cryptocurrency, which was recently used by British auction house Christie's in the record $69.3 million sale of the first cryptocurrency-based artwork by a major auction house.
“The NFT market is on fire,” Cuban told The Block. “Will be interesting to see what comes next in terms of competition for mindshare and dollars.”
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