FaZe Clan co-owner Ricky ‘Banks’ Bengston has revealed the ludicrous value of his NFT portfolio, after initially investing $200,000.
NFTs, or Non-Fungible Tokens, have grown exponentially in popularity throughout 2020 and 2021, with the most expensive NFTs selling for millions of dollars.
The digital artwork comes in so many variations, with thousands of artists across the globe selling their work on marketplaces like OpenSea.
One influencer that dove deep into the world of NFTs was Banks, owning a number of pieces that have skyrocketed in value since purchasing them — and now he’s opened up on what he thinks his portfolio is worth.
Shortly after addressing offshore gambling accusations, the topic moved on to NFTs, with Banks explaining how entrepreneur Gary Vaynerchuk got him into them before detailing the real value of his investments.
He explained on the BFFs podcast with Josh Richards and Barstool’s Dave Portnoy that he invested his initial $200k after Vaynerchuk’s suggestion, and it’s gone wild from there.
“I currently own nine CryptoPunks, six Apes, these things are super blue-chip,” he explained. “I think the floor for a CryptoPunk right now is somewhere in the ballpark of $400,000.”
When Richards asked how much he thinks he’s made from NFTs, Banks said: “I think conservatively — not ‘made’, not liquid… I’d say my portfolio right now is worth, a modest number, maybe $7-8 million.”
Topic starts at 38:05
Banks goes on to add that he believes his portfolio will be worth around $10m by the end of the year, which would all be profit as he’s said he’s already taken back his initial $200k.
While not every NFT is going to go to the moon, it’s fair to say that FaZe Banks has done seriously well with them — but insists that he’s still in it for the long haul. Only time will tell what his portfolio will look like and be worth years down the line.