Imagine having the opportunity to pitch the rock star investors on the hit show Shark Tank. Standing right in front of you in a black suit, piercing eyes, and skeptical look would be “Mr. Wonderful” himself, Kevin O’Leary.
If you were trying to sell him on the prospects of bitcoin, there’s a good chance he’d say, “you’re dead to me.”
However, if you want to talk about NFT’s, you’ll get his attention and maybe even a big, fat check.
Yes, O’Leary is a BIG believer in NFT’s because they can prove ownership of real0-world items.
There’s a digital record, not just a piece of paper.
2021 was the year NFT’s became known, and 2022 could be a huge year for them as they grow in popularity. Non Fungible Tokens are essentially one-of-a-kind crypto tokens. They are used to track the authenticity of collectible items like artwork, sports highlights, and sports memorabilia.
Over $20 billion worth of NFT tokens were transacted in 2021, and that number will be dwarfed in 2022.
Here’s what O’Leary told CNBC about NFT’s.
“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just bitcoin alone.”
As for bitcoin? Yeah, Mr. Wonderful is not a fan.
“It is a useless currency. It’s worthless.”
In a sign of how the world has changed, O’Leary said 40% of his investment dollars were for crypto and blockchain ventures in the past six months.