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Shark Tank investor Kevin O’Leary says he is investing in metaverse altcoins as the nascent crypto sector takes off.
In a new interview on Kitco News, the celebrity investor says he considers Ethereum (ETH), Polygon (MATIC), Hedera (HBAR) and Helium (HNT) to be the software that the metaverse will be built on.
“If you’re willing to buy a Facebook, a Google or Microsoft, that’s all software. And the metaverse is just software, so I’m starting to take positions in some of these big platforms where the metaverse is going to live like in Polygon and HBAR and Ethereum.
Bitcoin itself is just software. It’s not a coin, so I keep telling people if you’re willing to invest in traditional software as service companies like Microsoft, why aren’t you investing in Ethereum? Why aren’t you investing in Polygon and HBAR and Helium and all of these different platforms?
I’ve got a pretty wide selection of these different software platforms not knowing which ones will be successful but it’s diversification.”
O’Leary comments that the metaverse could change the course of marketing products and brands.
“If you believe in the next three to five years when things continue to move online, particularly experiential advertising, you’re going to find that in the metaverse, where it’s going to manifest itself in gaming first and so we’re going to see a lot of gaming happen and esports is a big part of that. I think this is the direction it’s going in…
There are two directions of the metaverse: unruled, uncurated metaverse where if you’re a big brand, let’s say, Procter & Gamble, you can find yourself set up in the metaverse right beside a porn shop. That’s not going to happen in Facebook where they’re going to curate the metaverse. That may have more value long term because if I’m putting up a brand that I’m trying to protect, that means something to me, I don’t want to put it up beside a liquor store or porn shop or whatever else is on the metaverse that’s unregulated.”