Sports Cards as Alternative Assets
Avidar founded the ecommerce startup company in 2020 with the goal to improve the liquidity of physical sports cards. As a self-proclaimed card collector and card investor, Avidar came up with the idea that would later develop into the ecommerce business and card-trading platform while searching for a rare Kobe Bryant card and experiencing the issues within the industry first-hand.
Today, the startup company allows users to buy, sell, and store physical cards using its ecommerce platform. In order to list a trading card on the exchange provided by the business, users must send the card to the company first. The card is then verified by Alt, photographed, stored, and listed on the website. There is no added fee for buyers when purchasing assets on the platform, and the startup ecommerce business only charges a small percentage of a collection’s worth each month to store it. Transaction fees for sales are rather small at just 1.5%.
The platform built by the ecommerce company also features a real-time valuation of the collections of its users, allowing investors to stay informed of the fluctuating value of their assets, much like a regular stock exchange.
Battling Ecommerce Giants in the Card Trading Market
While Alt offers competitive prices for its sports cards trading services, the startup business will still face competition from well-established marketplaces like eBay. According to the ecommerce giant’s “State of Trading Cards'' report, the company witnessed a 142% increase in domestic trading cards sales in 2020 compared to the previous year. Some individual sports cards even sold for over $500,000. eBay touts a market cap of $38.27 billion, with stock prices currently sitting at $56.24 per share.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.