Think Baseball Card Shares Are Strange? How About NFT Investing?

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A few weeks ago, I published an article about investing in shares of baseball cards. Amazingly, some of these sports cards have had outrageously successful returns recently.

For example, shares of a Tiger Woods 1996 Sports Illustrated for Kids PSA 10 card was offered on February 28, 2021 on a IPO at $10 per share. On April 7, there was a buyout offer of $13.67 per share, a 36.7% increase in less than two months.

An even better example is the Wilt Chamberlain 1961 Fleer Rookie Card PSA 9 card which received a buyout offer of a 66.5% premium over the $10 IPO price!!!

So what is the next great investment sector? Maybe it is the NFTs. If you are not sure what an NFT is, it stands for non-fungible token. An NFT is is a unit of ownership of a unique, generally digital, item that is recorded on a blockchain. The item is not interchangeable, however the NFT is tradeable.

Here are some examples of what an NFT can represent. It can represent digital art. The artist Beeple created a digital artwork called Everydays: The First 5000 DaysThe NFT for the art was auctioned off at $69 million through Christie’s.

The CEO of Twitter, Jack Dorsey, sold an NFT of his first tweet for $2.9 million.

NFT’s can also represent music, items in games, and digital sport cards.

Probably the most unusual NFT is skin. The Croatian tennis star, Oleksandra Oliynykova, is offering an NFT for the lifetime rights to the upper part of her right arm.

Speaking of skin, even Playboy (PLBY) is getting into the NFT arena.

So far, there have been nine NFTs that have sold for over a million dollars. So what do you think? Worth investing in? Have anything you want to tokenize?

 

 

Disclosure:  Author has a long option position in PLBY.

Disclaimer: This article is designed to provide information. It is provided with the understanding that neither the ...

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