Kevin O’Leary, a crypto supporter, and Shark Tank investor, thinks that the NFT market will be bigger than bitcoin.
O’Leary, who is the chairman of O’Shares Investments, says that NFTs offer a good value due to their ability to digitally track authenticity and ownership.
He says that non-fungible tokens also provide the ability to track inventory management of real-world products like sports memorabilia, artworks, vintage watches, among other assets.
The Shark Tank investor also added, “One of my biggest challenges is managing inventory, managing insurance, and then, of course, authentication.”
“When people offer me vintage watches, I have to go through a very tedious authentication process to find out if they are fake or not, there are a lot of fake watches on the market. NFTs can solve all these problems,” he added.
The investor, who had earlier called cryptocurrency like bitcoin as waste, has changed his thoughts with time. Now he says that investing in digital assets and NFTs is like investing in the early days of companies like Google and Amazon.
O’Leary believes that 2022 could bring in more regulation in the crypto industry. He feels that if the industry gets more regulated, we can make it more compliant to bring in millions of dollars of investment in the industry.