The controversial YouTuber Logan Paul founds a new company called “Liquid Marketplace.” This marketplace aims to allow everyone to co-own selected valuable or collectible items. Buyers receive a share of the item, which is stored in the company’s vault.
What kind of company is this? The company “Liquid Marketplace,” founded by YouTuber Logan Paul, is a marketplace for valuable or collectible items. Interested parties can acquire shares of said collectible objects.
Logan Paul showcases examples of objects that will be listed on Liquid Marketplace in a tweet.
Who is the company targeting? With Liquid Marketplace, Paul wants to make it possible for everyone to co-own expensive, selected valuable or collectible items.
The company primarily targets people who cannot or do not want to pay the full price for a valuable item. A potential motivation for acquiring shares is one’s interest as a collector.
Another motivation is the option to generate profit through the future sale of one’s shares due to a previously speculated increase in value. Conversely, there is also the risk that the items may lose value.
This is similar to shares of companies. Instead of owning the entire company, one only buys shares and hopes for an increase in the company’s value to raise the value of their shares.
How does Liquid Marketplace enable co-ownership? Instead of fully owning an item, you are merely a co-owner at Liquid Marketplace. Thus, you own shares of the item in question.
These shares are represented by NFTs (Non-Fungible Tokens), which users can purchase and hold on the Ethereum blockchain. Liquid Marketplace stores the items themselves in a physical vault.
Furthermore, according to its website, the company run by Paul handles the authenticity verification and valuation of the objects.
Why authenticity verification of collectibles is so important was something the YouTuber learned the hard way: Paul bought a Pokémon card for €3,000,000 without consulting experts and was scammed.
From “super cool” to “I don’t understand it”
How does the community react? As with many NFT and blockchain topics, opinions about the company and Paul’s endeavors are mixed. MeinMMO shows you a selection of the Twitter reactions:
- @marcusjihansson via Twitter: “I am doing my master’s in blockchain technology and digital currency and what you are doing here is super cool.”
- @ThisOffendsMeTV via Twitter: “I will never be interested in that. I prefer to own a full percentage of my valued collectibles, but I’m sure some people would love to do that […].”
- @d42mon via Twitter: “Innovative marketplace! Although I don’t have the means for such assets, I think it’s super cool to see what is for sale in our world!”
- @SideWays408 via Twitter: “I don’t understand it. What good is it if people are partial owners of a card that they don’t possess? What’s the point if 10 people own a part of one card?”
Logan Paul knows how to polarize with his actions. He proves this with his new company not for the first time. Just recently, the controversial YouTuber made headlines by purchasing a Pokémon card for €4.8 million.
What he did with the card and how it was part of a wrestling match, you can read on MeinMMO: Controversial YouTuber spends €4.8 million on a Pokémon card, wears it as a necklace
