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Ep.81 Why Tokenization Will Lift Physical AND Digital Collectibles In 2026
Miguel Kudry, CEO of L1 Advisors, explains why the disconnect between retail sentiment and institutional adoption is accelerating tokenization faster than anyone expects. While gaming companies shut down and crypto Twitter panics, the DTCC has just received SEC approval to tokenize $100 trillion in assets, creating unprecedented access to collectibles markets. Miguel explains why financial advisors managing $70 trillion are starting to have crypto conversations with clients for the first time, that many hold double-digit percentages of net worth in held-away crypto assets, and how tokenization will transform collectibles from a niche hobby into an indexed asset class alongside stocks and bonds.
Host Steven Schill and Miguel discuss why physical collectibles are surging as tokenization infrastructure scales, how the four-year crypto cycle is dying, and why the "last mile" of AI-powered distribution will unlock access to collectibles for mainstream wealth management.
This episode covers:
- The "subway infrastructure" that will drive economic activity to collectibles protocols
- The advisor conversation shift: From zero crypto discussions to discovering clients hold tens/hundreds of millions in held-away crypto assets
- Athletes and younger demographics are driving collectibles as an asset class, according to conversations with wealth managers in 2025
- Miguel's timeline acceleration: From "5 years away" to "next year is the year" for institutional tokenization adoption
- Why advisors won't pick individual collectibles, they'll invest in themes, indices, and play-to-earn verticals like CryptoPunks indexes
- The last mile revolution: How AI agents will create custom portfolios and investment mandates, enabling solo advisors to compete with mega-firms
Important Disclosures
This content is intended for educational purposes only. Please note that the availability of the products mentioned may vary by country, and it is recommended to check with your local stock exchange.
Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this podcast.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
Prior to using any AI tools, please consult your compliance and legal departments to assess and mitigate potential risks associated with its application in your specific regulatory environment.
Please note that any content generated by an Artificial Intelligence (AI) system has not been subject to a human review, and thus no assurance can be made as to its accuracy. Please exercise caution when using AI systems and verify the content produced through such systems wherever possible.
An investment in a cryptocurrency exchange-traded product (“ETP”) or other digital asset investment vehicle is subject to significant risk and may not be suitable for all investors. The value of digital assets, including but not limited to Bitcoin, Ethereum, and other cryptocurrencies, is highly volatile and you can lose your entire principal investment. Cryptocurrency ETPs are not registered investment companies under the Investment Company Act of 1940 (the “1940 Act”) and therefore are not subject to the same regulatory protections afforded to mutual funds or ETFs registered under the 1940 Act.
Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.
Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.
Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.
Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.
Web3 Companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies.
All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results.
© SegMint
© Van Eck Associates Corporation
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By SegMint Collectibles, LLCMiguel Kudry, CEO of L1 Advisors, explains why the disconnect between retail sentiment and institutional adoption is accelerating tokenization faster than anyone expects. While gaming companies shut down and crypto Twitter panics, the DTCC has just received SEC approval to tokenize $100 trillion in assets, creating unprecedented access to collectibles markets. Miguel explains why financial advisors managing $70 trillion are starting to have crypto conversations with clients for the first time, that many hold double-digit percentages of net worth in held-away crypto assets, and how tokenization will transform collectibles from a niche hobby into an indexed asset class alongside stocks and bonds.
Host Steven Schill and Miguel discuss why physical collectibles are surging as tokenization infrastructure scales, how the four-year crypto cycle is dying, and why the "last mile" of AI-powered distribution will unlock access to collectibles for mainstream wealth management.
This episode covers:
- The "subway infrastructure" that will drive economic activity to collectibles protocols
- The advisor conversation shift: From zero crypto discussions to discovering clients hold tens/hundreds of millions in held-away crypto assets
- Athletes and younger demographics are driving collectibles as an asset class, according to conversations with wealth managers in 2025
- Miguel's timeline acceleration: From "5 years away" to "next year is the year" for institutional tokenization adoption
- Why advisors won't pick individual collectibles, they'll invest in themes, indices, and play-to-earn verticals like CryptoPunks indexes
- The last mile revolution: How AI agents will create custom portfolios and investment mandates, enabling solo advisors to compete with mega-firms
Important Disclosures
This content is intended for educational purposes only. Please note that the availability of the products mentioned may vary by country, and it is recommended to check with your local stock exchange.
Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this podcast.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
Prior to using any AI tools, please consult your compliance and legal departments to assess and mitigate potential risks associated with its application in your specific regulatory environment.
Please note that any content generated by an Artificial Intelligence (AI) system has not been subject to a human review, and thus no assurance can be made as to its accuracy. Please exercise caution when using AI systems and verify the content produced through such systems wherever possible.
An investment in a cryptocurrency exchange-traded product (“ETP”) or other digital asset investment vehicle is subject to significant risk and may not be suitable for all investors. The value of digital assets, including but not limited to Bitcoin, Ethereum, and other cryptocurrencies, is highly volatile and you can lose your entire principal investment. Cryptocurrency ETPs are not registered investment companies under the Investment Company Act of 1940 (the “1940 Act”) and therefore are not subject to the same regulatory protections afforded to mutual funds or ETFs registered under the 1940 Act.
Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.
Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.
Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing.
Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.
Web3 Companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies.
All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results.
© SegMint
© Van Eck Associates Corporation