Exclusive: Gary Vee On Sports Cards Investment Options, What's Ahead For NFTs

Gary Vaynerchuk joined Benzinga’s “SPACs Attack” earlier this week to share thoughts on several trends and investments, including sports cards and NFTs.

Gary Vee on Sports Cards: Gary Vee told Benzinga the growth and valuations for sports cards has exploded: "My return on that is absurdity."

Vee recognizes that there are cycles every 30 or 40 years and thinks we still have a long way to go in the current cycle with more room for increased valuations of sports cards.

After the buyout of Collectors Universe, there aren't a lot of publicly-traded companies that offer exposure to sports cards. One option is Topps, which is going public with Mudrick Capital Acquisition Corporation II MUDS.

Vee said this is a practitioner moment for sports cards. Instead of investing in the limited number of public companies, viewers of the show heard that they can bet on current athletes in a similar manner to sports betting.

If you believe in Sam Darnold who was traded to the Carolina Panthers, Vee said as an example, you might consider buying his cards. People who buy the cards might find the Panthers’ games more enjoyable similar to placing a bet on the team and cheering on the success of the team.

Vee said there are platforms like StockX and eBay Inc EBAY that allow sports card investors to buy and sell cards freely.

The sports card market can be a high-risk high reward, Vee cautioned.

Gary Vee on NFTs: One of the hottest trends of 2021 was also discussed.

Vee told Benzinga there is still room for the NFT market to grow but cautioned that a lot of money will also be lost on it due to supply and demand issues. Vee believes every celebrity, every league and everyone with intellectual property will launch an NFT project in next 25 months.

Despite the caution, Vee is doubling down and continuing to explore investment options in the NFT space: “NFTs are here for the rest of our collective lives.”

Vee said people are always looking to buy certain items to show off or flex. People want validation and communication with other humans over items that are owned or have value.

What’s Next For NFTs: Vee told Benzinga he's working on his own NFT projects.

“I’m working on my own project that I’m hoping to launch in early May,” Vee said.

Vee and Matt Higgins are also in the early stages of an investment vehicle for NFTs. He compared the current NFT market to a similar one seen with ICOs years ago. Many of the coins went away but major cryptocurrencies came back to life years later.

There could be a moment in the next 12 to 18 months where people call NFTS a fad that went away and then will be surprised to see them come back to life.

Vee said the next winners in the NFT and cryptocurrency space could be the ones working on social tokens and virtual fan clubs.

“I’m very hot on the communication layer of the NFTs.”

Vee mentioned digital wallets, ecosystems, virtual rooms and message boards that could all be connected to social tokens.

“Be in a place where you are able to be part of community only if you own that token” could be very successful.

Click here to watch the full interview with Gary Vee and Matt Higgins.

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Posted In: CryptocurrencySportsExclusivesMarketsInterviewGeneralExclusiveGary VaynerchukGary VeeNFTNFTsnon-fungible tokennon-fungible tokenssports cardsTopps
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