The hoverboard, called Radical MOOV and produced by the Dallas-based company Radical Transport, which Cuban started and funded, is slated to launch on Kickstarter on May 31. Early bird backers will be able to buy a hoverboard for $1099 (though prices are subject to change), according to a new review video that Cuban's co-founders, Evan Williams and Nick Fragnito, filmed with product review YouTuber Taylor Moore.
The price point is well above other competitors. Hoverboards range in price from $150 to about $600 for a self-balancing Segway.
What's so much better about the Radical MOOV? According to Cuban, its safety. Over the last few years, there have been problems with hoverboards exploding and catching fire. Authorities seized them by the thousands for being unsafe and airlines banned them.
Cuban vouched for his product: "Everyone else uses Chinese manufacturers," Cuban tells CNBC. "We completely redesigned the boards using our own [intellectual property] and will make the boards in the States."
Further, the hoverboards have been certified by the third-party safety verification company, UL.
The review video also revealed that the 24-pound device lasts 12 miles on a battery charge and steering the hoverboard is much like skiing, where your weight distribution determines the direction the device will turn. It will go between 12 to 16 miles per hour, says Williams.
"We definitely see it more as a sporty electric vehicle," says Fragnito, where other hoverboards on the market he called "toys."