Early Stage Theranos Investor Cashes in on NFT Explosion
January 6, 2022
Years after his early stage investment in Theranos, Marc Ostrofsky finally found a way to cash in on his seemingly valueless Series A stock certificate. Ostrofsky turned his 500,000-share stock certificate, equipped with a signature from infamous founder Elizabeth Holmes, into a nonfungible token (NFT).
Joining the likes of Larry Ellison, Rupert Murdoch and Tim Draper, Ostrofsky was one of numerous early stage investors to pour huge sums of money into Theranos. At the end of the day, he is one of the very few to actually make some money back on his Theranos investment. Ostrofsky’s NFT, which he named “Rise and Fall of Theranos NFT”, was listed and sold on OpenSea for 2 ETH, or the equivalent of over $7,000.
Ostrofsky’s foray into NFTs is not his first rodeo in attempting to capitalize on emerging tech opportunities. He was early to the party on multiple trends, notably investing $150,000 to acquire the domain name rights to business.com, which he later sold for north of $7,000,000.
Read more about our take on Theranos HERE.
Want to learn more about NFTs? Stay tuned for future posts detailing all things NFT.