Billionaire Tilman Fertitta onboard with Akash

in LeoFinance3 years ago (edited)

News has emerged today that Tilman Fertitta has taken an interest in The Akash project. During the Bitcoin Miami conference last week, the CEO of Akash, Greg Osuri, teased that a big time investor was coming on board with Akash. Now we know that this person in Fertitta.

Who is Tilman Fertitta?


Image Source: The Merkle article

Fertitta's primary assets include the privately owned Landry's Inc, a business that owns over 600 restaurants, casino's and entertainment venues around the US. Forbes described him in 2012 as "the worlds richest restauranteur". More recently, he is also know as the owner of the Houston Rockets basketball team, which he purchased in 2017 for $2.2 billion.

One other thing of importance to note is that Fertitta has been open to Cryptocurrency for years. His luxury car dealership in Houston, selling Bentley, Bugatti, and Rolls Royce auto's as been accepting Bitcoin and other cryptocurrencies as payment for their cars since 2018. He was, according to this article in fact the first dealership in the nation to accept Bitcoin for payments.


Not just a passive Akash investor.

Fertitta Entertainment - The company he is sole owner of - and where his restaurant, and entertainment businesses along with the Houston Rockets NBA team - is becoming a validator on the Akash network. As strange as that may sound, this multi-billion dollar company will be soon producing blocks on the Akash blockchain. With the current market cap of Akash's token AKT currently around $200 million, this seems like a really big deal. The market has reacted, with AKT currently up around 20% so far since the news broke, on a generally positive day.

Investing.com reported on this news, with details that Fertitta and Akash are also exploring ways to migrate some of his business's cloud needs to Akash. This article announced Tilman's interest:

“We are always looking to be innovative and ahead of everyone else,” said Fertitta. “The Akash Network is looking to build the future of cloud computing and is unique among many new blockchain companies as it has a functioning product that is meeting a real business need.”

Fertitta’s validation node will confirm transactions on the Akash Network and commit those transactions to the Akash blockchain. The node earns rewards in Akash tokens (AKT) for this work similar to how bitcoin miners earn bitcoin for doing similar activities on the bitcoin blockchain. In addition to validating blocks for the Akash Network, Fertitta is also looking at opportunities to migrate some of his business’s cloud computing needs to the Akash Network to take full advantage of the savings offered by the new decentralized cloud.


A multi-billionaire investor taking an interest in a $200 million market cap crypto, to the point of becoming a validator on the network - I don't know about you, but that makes me even more bullish on Akash than ever.


I hope you haven't been sleeping on Akash, I've been telling you all about it for a while now.

Read more about Akash in some of my previous posts:

None of this is financial advice. Do your own research.

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Thanks for reading, please feel free to like and retweet this tweet if you enjoyed this post.

Cheers,

JK.

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I didn't know about the Akash network and looked into your old posts to get an idea. Well the cloud computing space is definitely going to thrive but I don't know too much about it.

I am wondering whether or not the speeds will be impacted by migrating over to the decentralized cloud computing servers. If it does succeed though, we can probably see more companies using decentralized cloud computing as well.

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At the end of the day, Akash is really a marketplace. Matches data centers with people needing cloud compute. Once the programs are launched, (provided the "buyer" has purchased the right service level), speeds and service should be on par with any other cloud. The service, in many ways, could be superior, as with many data centers connected, if one goes down the programs will simple be moved to another. Downtime should be better with Akash.

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WTF, now $AKASH can literally take the (Houston) ROCKET 🚀🚀🚀 to the MOON!! LOL

and considering it's still under $5 ... It's crazy!

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A reply to my Tweet for this post said he bought in around $5 each token originally, so getting AKT's at $3.40 ish currently seems like a nice bargain to me.

Houston, we are ready for takeoff.

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It's amazing how this guy already accepted payment with cryptocurrencies for cars and no one made a fuss about it, but along comes an eccentric, spoiled idiot and says he accepts payment in bitcoins for his decepticons cars and everyone goes crazy hahaha.

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Yeah, some people make lots of noise, others just get on with things. His dealership has been taking Bitcoin and other crypto since 2018. It is a luxury dealer, so I guess targeting the crypto rich isn't a bad idea. Doesn't sell Lambo's however...

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hey too bad, lambos are highly sought after by crypto millionaires hahaha.

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This is the first time I'm reading about Akash and Tilman. Both of them seem interesting.

I'll try to read the other articles to educate myself. More on the topic.

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I think Akash is the real deal, but definitely do your own research.

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Sure...I will.

Can you send me their link.

cool!

We'll either look like geniuses or chumps in a couple of years with this one.

Still early.

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yeah lol. If we look like geniuses, obviously i made a good decision. Look like chumps - have you to blame. hahaha


Your post was promoted by @jfang003

Knowing your track record, I will definitely check all of your past AKASH posts and will come back here or on Discord if I have some questions.

Feel free to not answer them 😆.

Thank you for sharing in any case.

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Hit me up any time if you have questions, happy to help where I can.

Knowing your track record...

Just remember, anyone can look like a genius when everything is going up.

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