Popular talk show host Ellen Degeneres asked Shark Tank star Mark Cuban about cryptocurrency and non-fungible tokens during the Ellen Degeneres Show which aired on Tuesday. Besides explaining cryptocurrency to Degeneres, Cuban tried to convince her to accept dogecoin in her shop.
Ellen Degeneres Tries to Understand Dogecoin
Shark Tank star Mark Cuban appeared on the Ellen Degeneres Show on Tuesday. Degeneres is a popular comedian, television host, actress, writer, and producer. Cuban is the owner of the National Basketball Association (NBA) team Dallas Mavericks.
“Today, Mark Cuban taught me about dogecoin. I’m still not sure I understand it, or know how to pronounce it, but it sure is fun to say,” Degeneres tweeted.
Degeneres asked Cuban about cryptocurrencies and non-fungible tokens (NFTs). “Is that something that we should all be looking at?” she said.
“The thing about NFTs is they’re just digital collectibles,” Cuban described. “Don’t think about the technology at all. It’s just one more thing to collect, only it happens to be digital.” The Shark Tank star added: “If you think about everything on your phone that you value, particularly younger kids, their more valuable possessions are things on their phone. An NFT is just a digital collectible that you can buy, hold, sell like any other collectible.”
Prior to airing the interview with Cuban, Degeneres launched her first-ever NFT to raise money for the World Central Kitchen (WCK). “Ellen is jumping on the latest internet craze for a good cause by auctioning off a never-before-sold monologue and selfie featuring her original artwork, ‘Woman with Stick Cat,’” the auction site describes.
On the subject of cryptocurrency, Cuban explained to Degeneres that it “is just an asset to invest in.” He continued: “Bitcoin is like a digital version of gold. Ethereum is a digital version of a currency. And then you got dogecoin which is just fun but the weird part about it, it went from being a cryptocurrency joke to now becoming something that’s becoming a digital currency.”
The Dallas Mavericks started accepting dogecoin for payments in March through Bitpay. Cuban further said:
At the Mavs, we sell a lot of merchandise for dogecoin and you should look at it for the Ellen shop. You guys could sell a whole lot of stuff for dogecoin.
Degeneres replied: “We sure will do that.”
Noting that she was previously interested in investing in real estate, Degeneres said: “Now, I’m interested in dogecoin and I really want to know more about this.”
Cuban obliged, saying that “it’s crazy, the craziest thing ever” before proceeding to explain how dogecoin started as a meme cryptocurrency. The owner of the Dallas Mavericks then discussed the cryptocurrency as an investment, noting that dogecoin is “a better investment than buying a lottery ticket.”
However, Degeneres said that she is skeptical about the know-your-customer (KYC) process and having to give her social security number when signing up to buy dogecoin through a service like Robinhood. Cuban, on the other hand, said he is less concerned about it.