Kevin O’Leary Invests $13 Million in Rare Sports Card, Dismisses NFTs
Kevin O’Leary is shifting focus from NFTs to high-end physical collectibles, particularly rare sports cards. He recently co-purchased a $13 million dual Logoman card of Kobe Bryant and Michael Jordan as part of his strategy to build a unique collectibles index.
Key points include:
- The card is considered a cornerstone investment, with O’Leary valuing ownership in partnership over sole possession.
- He views investments in collectibles as calculated bets based on historical price appreciation.
- O’Leary dismisses NFTs as a fad, stating he prefers tangible assets, criticizing the lack of physical existence in NFTs.
- Despite this, he sees potential for future tokenization of his collectibles for easier management.
- O’Leary advocates for "Wall Street on chain," emphasizing the benefits of blockchain for asset management.
- He remains positive on foundational cryptocurrencies and related infrastructure investments.