Logan Paul to tokenize real items with new startup

Logan Paul has eventually joined the frenzy for marketplaces that support non-fungible tokens (NFTs) with his own trading platform/vault called Liquid MarketPlace.

The notorious scoundrel confirmed on his Twitter page he's launching a new marketplace, dropping his personal first edition of Pokémon Box as a tokenized asset.

Reports say the marketplace is co-created with Ryan Bahadori and Amin Nikdel.

According to the website's description, Liquid Marketplace provides storing services for items in a physical vault. These items are later digitized and listed on the marketplace at $0.10 of the item's value per token. Collectors can buy these tokens on a first-come, first-serve basis.

The marketplace is trying to make it clear though that its offerings don't mean users own shares:

When you purchase a tokenized portion of a collectible on Liquid Marketplace, you become a genuine co-owner of the collectible.

After the offering sells out, the tokens — which will be first made on the Ethereum network — move to Liquid Marketplace's secondary market. Reports say the platform has already raised $8 million from undisclosed investors. However, LiquidMarket reportedly has DJ Steve Aoki and Jeremy Padawer, former co-president and partner of Wicked Cool Toys, among its advisers.

In February, the YouTuber joined the Web3 space by filing a trademark for an NFT marketplace. The trademark called "ORIGINALS DAO" described a system where users can "engage in networking, establish work agreements and accept payments, transfer and stake cryptocurrency tokens, vote on community proposals, participate in a DAO." Officially it remains unclear if LiquidMarketplace has anything to do with the filing.