Ashton Kutcher, Mark Cuban and Snoop Dogg work together for NFT Twist on Shark Tank.
Sound Ventures will be giving $1 million to crypto entrepreneurs as a part of “NFTs: The Pitch.”
Mark Cuban, the billionaire investor and Dallas mavericks owner will be merging two of his side gigs: judging reality competitions and promoting crypto innovations.
Cuban will be joining in a reality competition held by Ashton Kutcher’s and Guy Oseary’s Sound Ventures. But instead of judging new inventions, Cuban will be evaluating potential NFT businesses.
An LA-based startup investment firm, Sound Ventures will be throwing $1 million behind “NFTs: The Pitch,” a behind-closed-doors (virtual) competition that is currently taking applications for a pitch session to be held on April 21. It has been founded in 2015 by Kutcher and Oseary, an entertainment industry industry who has managed U2, served as Madonna’s business partner and introduced Maverick Records as it developed Alanis Morisette into a household name.
Cuban will be joining Oseary and Kutcher in judging the competition, along with NFT-producing musicians Snoop Dogg and 3LAU, pseudonymous NFT art collectors Whale Shark and Metakovan, and Scalar Capital co-founder Linda Xie.
Sound Venture’s NFT page stated that the competition is open to “anyone around the world who is innovating with NFTs whether it’s just an idea or a product in market.” But it is not looking for one-and-done NFT ideas. “Those applying should be interested in building a company over the long-term,” the FAQ reads.
NFTs are very popular, as Ashton Kutcher, Snoop Dogg, and Cuban’s participation would suggest. Cuban, particularly, has been investing a lot of money into cryptocurrency and NFTs of late. He, together with Sound Ventures and others, contributed to a $9 million Series A for NFT art marketplace SuperRare last week. He has also put his money into NFT-based social media platform Nifty’s and also as DeFi and NFT data platform Esprezzo.
He is clearly aware of the trend. Three top NFT marketplaces for March combined for over $310 million in sales last month. That is without even counting figures from the NFT art marketplace OpenSea, collectible marketplace Nifty Gateway, or even Christie auction house’s standalone 469 million sale of a Beeple original to Metakovan.
With those figures, it seems that $1 million might not be enough.