'NFTs Turned Out to be a Fad,’ Says Kevin O’Leary as He Buys $13M Collectible Card

Kevin O’Leary is turning away from NFTs and putting millions into rare, physical collectibles, specifically high-end sports cards.

The "Shark Tank" star and O’Leary Ventures chairman recently co-purchased a $13 million dual Logoman card featuring Kobe Bryant and Michael Jordan, he said during an interview with CoinDesk TV's Jennifer Sanasie. The card is one-of-a-kind, and O’Leary—often called "Mr. Wonderful"—sees it as a cornerstone of his growing “index” of unique collectibles.

"The majority of the returns over 20 years have accrued to the collectors who bought the piece uniques," O’Leary said, comparing the strategy to his long-standing investments in Andy Warhol art and luxury watches. Rather than outbidding others, O’Leary partnered with two investors to acquire the card. "I'd rather