By selling 20,000 star cards to tens of millions, Alt has aimed at sports shoes, watches and NFTs

Sports collectibles companies continue to raise funds, and some have become unicorns.

A small star card, behind the capital interest is not small. With the upsurge of sports collectibles overseas, many sports collectibles companies have continued to obtain financing this year, and some have even taken more than one round of financing or have become unicorns.

Eight months after the last financing, the star card trading and valuation platform Alt has raised money again. Recently, Alt announced the acquisition of 75 million B round of financing financing by Spearhead lead investor, Seven Seven Six, Apollo Group, Vibe Capital, Breyer Capital and other fund companies with the cast, and Ming Star Investment crowds of people, including Tom Brady (Tom Brady), Giannis Antetokounmpo (Giannis Antetokounmpo) and so on.

In March of this year, Alt received a US$31 million Series A financing led by Seven Seven Six. Kevin Durant (Kevin Durant), Larry F. Scott Fitzgerald (Larry Fitzgerald) were also involved.

Alt told TechCrunch that after this round of financing, the company, which was only established in 2020 and currently has about 60 employees, has been valued at more than $325 million.

Taking advantage of the financing, Alt also ushered in the company’s first president-former eBay Collectibles and Trading Card General Manager Nicole Colombo (Nicole Colombo).

By selling 20,000 star cards to tens of millions, Alt has aimed at sports shoes, watches and NFTs

Before the founder Leore Avidar founded Alt, he had accumulated experience and knowledge of making a fortune by selling star cards. “In 2016, my dad sent me a bunch of old star cards, and I began to think about how to operate these assets. In the next five years, just by selling basketball cards, I turned $20,000 into more than $10 million.” He told Insider in a recent interview.

Alt mode of operation is similar trading platform shoes GOAT, regarded as the futures football card offers and other price changes for buyers and sellers to pay easily reference test data and genuine endorsement. At the end of this month, Alt will also launch a mobile application.

By selling 20,000 star cards to tens of millions, Alt has aimed at sports shoes, watches and NFTs

▲Alt can provide card price change data for star card players.

Avidar introduced in the ball Star Card, the players in the league debut of rookie card is the most valuable, which the basketball player and NFL quarterback is the most expensive of all card players, especially basketball star, LeBron James and Antetokounmpo are the two most attractive players.

Before July of this year, Alt’s most valuable star card was the 2003 James ” Rookie Star Card”, which set a record at a price of $5.2 million. But later, Alt bought a majority stake in a rookie Stephen Curry star card, which was worth $5.9 million.

On this platform, users have invested more than 200 million US dollars in assets, because most users buy these star cards for investment and financial management, not for display, so 70 million US dollars of assets are placed in Alt’s vault. middle. When users buy these star cards, Alt will draw a commission of 1.5% on each sale. Alt mentioned in the official information in November that the exchange’s GMV increased by 30% month-on-month.

By selling 20,000 star cards to tens of millions, Alt has aimed at sports shoes, watches and NFTs

▲The two most expensive cards: James and Curry in the rookie period

In addition to the star card, Avida is already thinking about what Alt can trade. His vision is to provide a trading platform for all alternative assets that are not considered collateral by banks. “I realized that what I do with the star card can also be applied to Pokémon cards, artwork, sneakers, watches or NFTs.”

Now that it plays the role of a bank and an investment institution to some extent, it seems natural to extend the business to loans. Therefore, Alt will regard loans to users as a new source of income, and the collateral is the star card that users deposit in Alt. But it is currently in the testing phase and is only open to some users.

“Sports card investment is a very mature industry, the entire market is over 20 billion U.S. dollars, and it is growing at an alarming rate. ” Avida’s view of star cards is similar to that of many practitioners. Similarly, he is also very optimistic about NFT. In the future of the sports world, “these tokens increase investors’ sense of community.”

The amazing growth of the sports collectibles industry is also reflected in the recent financing speeds of some startups.

In September, the video shopping platform NTWRK won the Goldman Sachs and open -studded group to invest $ 50 million B round of financing. NTWRK mainly sells 10 kinds of products including accessories, art collections, clothing, sneakers, and star cards.

In October, sports collectibles trading platform Rally received a new round of US$15 million in financing, with a total financing amount of US$65 million.

In October, the sports collectibles platform Whatnot received US$150 million in Series C financing. After three rounds of financing in one year, Whatnot, which was founded for two years, has become one of the unicorns with a valuation of US$1.5 billion.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/by-selling-20000-star-cards-to-tens-of-millions-alt-has-aimed-at-sports-shoes-watches-and-nfts/
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