Kevin O’Leary Shifts from NFTs to Physical Collectibles with $13M Sports Card Purchase

Kevin O’Leary, chairman of O’Leary Ventures and "Shark Tank" star, has declared NFTs a passing fad while making a multimillion-dollar bet on physical collectibles. His latest acquisition—a $13 million dual Logoman card featuring Kobe Bryant and Michael Jordan—exemplifies his pivot to tangible assets. "The majority of the returns over 20 years have accrued to the collectors who bought the piece uniques," O’Leary said, drawing parallels to his investments in Warhol art and luxury watches.

The one-of-a-kind card, once valued at $75,000, now anchors O’Leary’s growing portfolio of rare collectibles. He co-purchased it with two investors, emphasizing pragmatism over passion: "I'd rather own 33 and a third of it than zero." The MOVE underscores a broader skepticism toward digital assets like NFTs, which O’Leary dismissed as a transient trend. "I'm only buying assets that are physical," he asserted.