Chairman of O Shares and Beanstox, Kevin O Leary, aka Mr. Wonderful, best known as a panelist on the reality series Shark Tank, told CryptoSlate what led him to take equity exposure to the blockchain infrastructure.
Jordan Fried revealed why he backed O Leary's blockchain portfolio holding company, Immutable Holdings, which had a public debut in September.
Immutable Holdings has diversification in it, which I like, and ultimately the diverse nature of this company combined with the exciting growth the blockchain and digital asset space is already seeing informed my decision to invest in Immutable Holdings, O Leary told CryptoSlate, when asked about his decision to back Fried s company.
I ve been raising my position in the crypto infrastructure space throughout this year. I m not just looking for investments in coins or tokens, though those investments can be valuable. I want to own the baseline infrastructure of crypto, which is blockchain, and while owning blockchain isn t necessarily more important than owning crypto, it allows for a more holistic view, added O Leary.
Wonderful has been open about increasing his exposure to crypto, investing in a wide range of different crypto products.
Up until now, there hasn t been a great way to take exposure to the blockchain industry aside from buying some of the Bitcoin mining companies that are public or public companies like Coinbase, said Jordan Fried, CEO of Immutable Holdings, CryptoSlate.
We re the first blockchain portfolio holding company with brands like NFT.com, 1800 Bitcoin, and others, that have come to the public market, and we re democratizing blockchain investing through products that make investing in digital assets accessible and easy, Fried added.
The next few years are going to be very big for digital assets and blockchain, and we re getting in on the ground floor of that momentum, concluded Fried, underscoring the strategic importance of owning blockchain equity.
While securing the NFT.com domain early on, Fried envisioned building a business around the ecosystem of new tokens NFTs by creating a non-fungible marketplace.
NFT.com s profile-based, the user-friendly model creates more opportunities to dive into the buying, selling, and speculating of NFTs with some of the biggest brand names on the planet, Fried commented on one of Immutable Holding's key subsidiary businesses.
According to Mr. Wonderful, NFTs are destined for inevitable mainstream adoption.
The utility of NFTs is infinite and exciting. Obviously, as a watch collector, I m very interested in their utility in authenticating rare and valuable watches. But others may find NFTs more useful for rental leases, concert tickets, or deeds to a piece of land, said O Leary, while explaining why he is bullish on NFTs.
We re at an exciting point for NFTs now that we know they can be used for more than just rare artwork, which is why what NFT.com will bring to market is simply game-changing, he added, commenting on the new platform in the works.