Logan Paul’s Liquid Marketplace For The People
Social media star Logan Pau’sl announcement on Twitter of a new blockchain based marketplace is self-described as “simply is like no other. Paul’s company, Liquid Marketplace, claims to “fractionalize expensive assets,” allowing anyone to co-own a chosen valuable or collectible. The WWE Smackdown and YouTube star has raised nearly $8 million, with an intention to broaden the possibility of rare collectibles to the everyday person.
Paul’s career as a social media persona started ten years ago on the now defunct Vine and quickly moved to YouTube. Paul’s career has been filled with controversial decision, including the distrubring suicide forest video in 2017 and his lackluster boxing career.
Last year Paul took part in this year's Wrestlemania, his entrance featured a care Pokemon card that was dangling around his neck for all to see. He launched his Marketplace via twitter where he began to explain his idea of a fractional marketplace for those who can’t afford the high end pricer merchandise. For example, some of the rarest Pokemon cards go for millions of dollars, the rarest of which went for a staggering $5 million.
It makes all the more sense now of this concept of fractional ownership. Through which, in a sense, buyers can purchase tokens, held on the Ethereum blockchain, which then serves as a “piece” in the physical item. The actual items are stored by Liquid Marketplace in a physical vault-like space, think glorified safety deposit box at a bank. The company also takes responsibility in authenticating and appraising the items, maybe as a result of Paul spending $3.5 million on fake Pokemon cards in the recent past. A good example of why you should make sure the items are indeed authentic and affordable before their purchase.
At his best, Paul has the ability to jump early on trends and be in line with future digital media. At the same time, if thousands of people claim a to own a piece of an item, but they don't have it in their possession, haven’t they just bought a timeshare after a really long and annoying presentation? People who are already excited by NFT marketplaces and timeshares might find this an interesting venture for the people.