PLAYING THE (NFT) FIELD
Old school trading cards meet modern tech hype
Trading cards are going beyond physical and making a strong entrance into the digital space through non-fungible tokens, also known as NFTs. As Millennials and Gen Zs navigate an ever tumultuous society, we see their confidence in institutions such as banks and the stock market decrease as their comfort living digitally increases. Alysia, 16, from Washington, shares with Cassandra, “I am always looking for new and smart ways to spend/make money,” highlighting the opportunity that both NFTs and physical trading cards have as an alternative investment. The hype in the overall trading card market is clearly on the rise, with one single baseball card recently selling for $5 million (yes, you read that right). Read below to learn about three brands betting big on all-tech trading.
DAPPER LABS
Dapper Labs is a blockchain company that has mastered the gamification of blockchain technology. The brand, who recently received a valuation of $2.6 billion, partnered with the NBA to sell player NFTs. Sold on the NBA’s website NBA Top Shot, fans can buy NFT Moments, which are uniquely digitally identifiable tokens highlighting player’s best gameplays. If customers are lucky enough to get a rare NFT Moment in the packet they buy, they can sell for up to 6 figures.
DIBBS
Introducing Dibbs; the Robinhood meets fantasy sports app that allows users to trade not only physical and digital trading cards, but hybrids of both. Dubbed “the first 24/7 marketplace for trading shares of sports cards,” Dibbs limits the release of rare cards and allows users to own up to 5% of each rare card. This fractional ownership model allows for a more open market and encourages broader user participation. Having recently raised $2.8 million, Dibbs is well positioned to be a leader in the trading card world as it continues to blow up, with 4k current users and over 30K on the waitlist.
TOPPS
One of the most respected, old-school baseball trading card companies Topps will again be going public with a deal valuing them at $1.3 billion. Topps is now venturing into NFTs and has partnered with the MLB, launching their first-ever NFT baseball card earlier this month. In 2012, Topps began selling digital collectibles with a range of entertainment and sport partners and recently saw a 23% increase in sales that totaled $567 million in sales in 2020. Play ball!