Mark Cuban says Wal-Mart is 'in for a nightmare' for selling the latest craze in gadgets

Wal-Mart has announced it will sell the self-balancing scooters called "hoverboards" that are taking over.

And Mark Cuban isn't happy about it.

The famous entrepreneur and billionaire recently reached an agreement to buy a patent license for the popular item, according to Buzzfeed.

"They are in for a nightmare," Cuban wrote in an email to Buzzfeed after learning Wal-Mart plans to sell the scooters online this holiday season.

The "self-balancing scooters" will go on sale at Wal-Mart starting around November 1, according to Sapna Maheshwari at Buzzfeed.

The electric scooters have been described as a "hands-free Segway."

Executives at Wal-Mart anticipate this will be the hot new holiday item. The hoverboards will only be for sale on the website at first.

"We've bought deep in this item because our buyers expect it to be a hot holiday gift, possibly as hot as the Razor Scooter since it skews more towards adults," a Walmart.com spokesperson told Buzzfeed.

Celebrities including rapper Wiz Khalifa and singer Justin Bieber have been seen riding hoverboards in recent weeks.

We've reached out to Wal-Mart and will update if we hear back.