Known for his ventures like O’Shares and Beanstox, Kevin O’Leary, famously known as "Mr. Wonderful" from the reality TV show Shark Tank, explained to CryptoSlate what motivated him to take an equity position in the blockchain sector.
O'Leary disclosed his reasoning for backing Jordan Fried's blockchain portfolio holding company, Immutable Holdings, which had its public debut in September.
"Immutable Holdings has assets in it that I like, and ultimately the diverse nature of this company, combined with the thrilling growth the blockchain and digital asset space is already experiencing, 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 increasing 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 backbone 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.
Mr. Wonderful has been open about increasing his exposure to crypto, strategically investing in a wide range of integrated crypto products.
"Up until now, there hasn't been a great way to get 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, in a conversation with CryptoSlate.
"We're the first blockchain portfolio holding company with brands like NFT.com, 1800Bitcoin, and others, to come to the public market, and we're democratizing blockchain investment through products that make investing in digital assets accessible and simple," 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 strength," concluded Fried, underscoring the strategic importance of owning blockchain equity.
After securing the NFT.com domain early on, Fried envisioned building a marketplace around the ecosystem of non-fungible tokens (NFTs), creating a next-generation platform.
"NFT.com’s profile-based, user-friendly platform creates more opportunities to dive into the buying, selling, and trading of NFTs with some of the biggest brand names on the planet," Fried commented on one of Immutable Holding's key breakout subsidiary businesses.
According to Mr. Wonderful, NFTs are destined for mainstream adoption.
"The utility of NFTs is unlimited and thrilling. Obviously, as a watch holder, I'm very interested in their utility in authenticating rare and valuable watches. But others may find NFTs more useful for property leases, concert tickets, or proof of ownership to a piece of land," said O'Leary, while explaining why he is bullish on NFTs.
"We're at an exciting point for NFTs today in which we know they can be used for more than just digital art, which is why what NFT.com will bring to market is truly game-changing," he added, commenting on the new developments in the works.