Logan Paul Raises $8 Million For Tokenized Collectible Project

Logan Paul, celebrity YouTuber and NFT investor,  announced this weekend that he will open a website allowing retail investors to purchase fractional shares in collectibles, both digital and physical. Paul made headlines recently after investing in a $6 million dollar Pokemon card. The new trading platform, called Liquid MarketPlace, will tokenize assets and allow people to invest in them with any amount of cash and is spearheaded by Paul alongside Ryan Bahadori and Amin NIkdel. 

“We want to make high-valued collectibles accessible to anyone interested in building their collection. To create a level playing field where those who truly appreciate these unique items can own something legendary,” Paul said of the platform in an announcement that the company raised $8 million in funding.

Users can sell their assets on the platform by sending their physical goods to a vault owned by Liquid MarketPlace (sellers will send their digital assets to a wallet owned by the platform). Once in the company’s possession, assets will be tokenized and sold for 10 cents per token to investors looking to purchase fractional ownership in an asset. For assets like NFTs and other rare collectibles, Liquid MarketPlace makes ownership accessible to everyone. 

If a user wants to purchase an asset outright they can purchase a majority stake in the tokens available and trigger a buyout system within the platform’s governance. If token holders accept the buyout at a certain price, the user will be able to purchase sole ownership of an asset. Art investors have been able to purchase stake in art pieces for quite some time now, so the concept is not new (it’s also similar to purchasing shares in a real estate investment firm), but integrating the concept onto blockchain technology demonstrates just one of the many use cases it brings forth.