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August 9, 2022
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Chamath Palihapitiya admitted that he is investing in NFT –

Entrepreneur Chamath Palihapitiya arguesthat non-exchangeable tokens (NFTs) will grow in importance. In a recent interview with Bloomberg Markets and Finance, the well-known billionaire admitted that he started investing in them.

Chamath Palihapitiya invests in NFT

NFTs are gaining in importance. It turns out that at least one of the world’s largest investors is already investing in this market.

I am building a fairly sizeable portfolio of so-called NFTs. It comes with digital artwork, some virtual trading cards. And although it may seem strange to some, I think this is another frontier for digital currencies and digital assets, which is why I am building this type of portfolio – said Chamath Palihapitiya.

Palihapitiya What is the billionaire investing in?

Palihapitiya also added that his investment team intends to make public what specific cryptocurrencies he invests in. We are to know the composition of the billionaire portfolio in the coming weeks or months.

– We will publish everything we own and make our resources transparent so that people can follow us and see what we buy and sell. We’ll do it in a few months. I’m not ready to show you the details of what exactly we have yet, but I’m really excited about all of this. Maybe in a few weeks [opublikujemy skład portfela]… I am very excited. We’re almost ready to tell the world [w co inwestujemy] – He said.

NFT are tokens that are associated with works of art. However, this type of tokens is also used to issue e-trading cards or points for fans of football teams or fans of music bands. NFTs give you the rights to own a given image or video. In addition, they enable, for example, fans to vote on matters important to the teams they support. In turn, the owners of the NFT band Kings of Leon will also be able to, for example, gain access to better venues during the group’s concerts.

Recently, Elon Musk wanted to issue and sell his NFT, but after a short time… he changed his mind. His artistic tokens, in turn, were sold by his life partner – vocalist Grimes.

Chamath Palihapitiya is a Canadian-American venture capitalist and founder and CEO of Social Capital. He was a board member of Facebook. He joined the company in 2007 and left in 2011.

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