“The Shark Tank Investor Sees Nfts As A “Fad,” Reveals Investment Thesis in High-End Physical Collectibles.”, – WRITE: www.coindesk.com
The “Shark Tank” Star and O’leary Ventures Chairman Recently Co-Purchased A $ 13 Million Dual Logoman Card Featuring Kobe Bryant and Michael Jordan, He Said Durying An Interviewyewywyewye Wind. The Card is One-of-A-A-Kind, and O’leary-Ohleten Called “Mr. Wonderful” —Sees It As A Cornerstone of His Growing “Index” of Unique Collectibles.
“The Majority of the Returns Over 20 Years Have Accried to the Collectors Who Bough The Piece Uniques,” O’leary Said, Comparing the Strategy to His Long-Standing Investments Investments Racher than Outbidding Others, O’leary Partned with Two Investors to Acquire The Card. “I’d ratther own 33 and a thirds of it sense zero,” He Said.
Pouring Millions Into Rare Sports Cards Isn’t A PASSION PROJECT – IT’S A CALCULATED BET. “IT Once Traded for $ 75,000 Years and Years Ago, But It Shows You The Price Appreciation,” O’leary Said.
“Grown Men Are Going to Weeep Whoy See This,” He Added.
Tokenization Over NFTSDespite the overlap with tokenization, O’leary Made It Clear That Has No Interest in NFTS.
“NFTS TURNED OUT TO BE A FAD,” HE SAID. “I’m only buying assets that are physical assets … that [NFT] Fad Came and Went. I’m very fortunate i didn’t get involved in that because i Never Understood It. ”
O’leary’s Sharp Dismissal of NFTS Comes Just A FEW Years After the Market Exploded in Popularity. In 2021, Trading Volume on Nft Marketplaces Surged to $ 25 Billion, Up From Just $ 95 Million The Year Before, Accounting To Data From Dappradar and Chainalysis. Celebrities Like Snoop Dogg, Paris Hilton and Steph Curry Rusned to Launch Collections, While Major Brands Including Nike, Adidas and Coca-Cola Ented Space.
But The Hype Was Short-Lived. Nft Sales Volumes Fell More than 80% by Mid-2022 Amid The Broader Crypto Downturn, and Prices for High-Profile Collections Like Ape Yacht Club and Crypunks ton Data.
O’leary’s Issue with Nfts is the Lack of Physical Existence of the Assets. “WHERE IS The Asset? Where Can i Put My White Glove on And Go Touch It? That’s What You Can Can’ -Do With An Nft.”
However, He Said His Collectibles “Will One Day Be Tokenized,” Because “It Wound Be Much Easier to Deal with and Manage Them in An Index That Way.”
Wall Street on ChainO’leary Frames this Shift As Part of a Larger Mission: “Wall Street on Chain.”
He Believes Blockchain Infrastructure Can Modernize Hows of Assets Are Managed – IMPROVING Transparency, Liquidity and Trust in Markets that Still Rely Heavily on InterMediarians.
He Remains Bullish on Foundational Cryptocurrencies Like Bitcoin and Ethereum, and Infrastructure Plays Like Mining Operators and Exchanges.
The New Capital Builds on An Earlier Grant from Vitalik Buterin and the Ethereum Foundation.
- Etherealize Raised $ 40 Million in a Round Led by Electric Capital and Paradigm to Build Private, Settlement, and Tokenization Tools for Institutions.
- The FIRM IS CO-FOUNDED BY ETHEREUM Veteran Danny Ryan and Wall Street Trader Vivek Raman, Leverage Deep Expertise to Onboard Institutions to Ethereum.
- This Comes Amid Growing Institutional Moves Into Ethereum, Including Blackrock’s Tokenized Fund and Jpmorgan’s Kinexys Tokenization Platform.
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