Mint Condition - April 2, 2021

Collectible 2.0 recap -- PSA stops new orders -- StarStock raises more capital from a prominent VC firm

Good Morning Squad:

Leading Off

As mentioned in the last few newsletters, Sportico hosted Colletible 2.0, where leading players in the sports cards and collectibles space, including Darren Rovell, Ken Goldin, and even the new UFC Heavyweight Champion Francis Ngannou shared their industry insight. We call out below the key takeaways and quotes from what was an exciting event!

  • Caty Tedman (Head of Partnerships, Dapper Labs [Creator of NBA Top Shot]): “The NFT industry in general is just scratching the surface….It feels like [we are an] overnight success, but we have been at this for 3.5 years…[Dapper Labs is] currently only at the NFT phase and we are not offering all of the other products we intend to offer.” (Caty did allude to the potential drop of a mobile game)

  • Greg Bettinelli (Partner, Upfront Ventures): “We are just learning today what is really collectible…Friction destroys value. The removal of friction has allowed us to be where we are today.”

  • Darren Rovell (Sr. Executive Producer, Action Network): “As someone who has a large physical collection, I had to evaluate the digital investment opportunities. My collection is 5% digital compared to 0% a month and a half ago…I am focused on memorabilia. I have sort of gotten out of cards. I believe memorabilia is still undervalued.”

  • Ken Goldin (Executive Chairman and Founder, Goldin Auctions): “I am shocked [about what is happening in the collectibles space]. In 2019, we did $27 million in sales. In 2020, we did $100 million in sales. Today is March 31, 2021. Sales thus far in 2021 are $120 million…In 2 years from now, the “mania” will be done. Right now, we are in a state where people feel like they have to buy something. Long-term as a collectible and alternative investment class, [cards and memorabilia] are here to stay.”

Card Product Releases

New Drops on April 2

  • Football: 2021 Sage Hit Premier Draft Low Series. Find it on Dave & Adam’s for $149.95

Fractional Listings

Recent Drops

  • Collectable: Sandy Koufax ‘64-’65 Game-Worn Jersey. Market Cap of $426,500 (AKA at what dollar amount the card is being valued). Seller retaining 70.34% ownership. $10/share. Still <1% ownership left available

  • Rally Rd.: Joe Montana ‘81 Topps Rookie PSA Gem Mint 10. Market Cap of $70,000. $7/share. 31% ownership left available (vs. 38% on 3/31)

  • Rally Rd.: MJ ‘85 ‘Shattered Backboard’ Signed Jersey. Market Cap of $280,000. $14/share. 56% ownership left available (vs. 57% on 3/26) [A bit slow moving here…]

  • Rally Rd.: MJ ‘87 Fleer PSA Gem Mint 10. Market Cap of $50,000. $5/share. 17% ownership left available

  • Rally Rd.: Steph Curry ‘09 National Treasures Rookie Patch Auto /99 BGS Gem Mint 9.5. Market Cap of $525,000. $25/share. 56% ownership left available

  • Otis: Magic Johnson ‘81 Topps PSA Gem Mint 10. Market Cap of $47,400. $10/share [Otis does not share % ownership left available]

  • Otis: Mike Trout ‘09 Bowman Chrome Refractor Auto /500 BGS Gem Mint 9.5. Market Cap of $45,800. $10/share

  • Otis: Russell Wilson ‘12 National Treasures Rookie Auto /25 BGS Gem Mint 9.5. Market Cap of $58,300. $10/share

  • Collectable: Willie Mays ‘59 Topps PSA Mint 9 x2. Market Cap of $24,000. Seller retaining 21.67% ownership. $5/share. 0% ownership left available (fully funded in <1 day)

New Drops on April 2

  • Collectable: Fernando Tatis, Jr. Bowman Chrome Blue Refractor Auto /150 BGS Pristine 10. Market Cap of $215,000. Seller retaining 46.51% ownership. $10/share (Opens @ 1pm ET)

Top Auctions

Ending Soon [Mint Condition will recap the noteworthy sales next week]

  • Lelands Spring Auction (Ending 4/2/21 @ 11pm ET): Premier items include Tom Brady Rookie Contenders Auto BGS NM-MT+ 8.5, MJ Fleer Rookie PSA Gem Mint 10, and Mike Trout MLB Debut Game-Worn Jersey

  • Goldin March Premium Auction (Ending 4/3/21 - 4/6/21): Premier items include Tom Brady Rookie Contenders Auto BGS NM-MT 8, Mickey Mantle Topps Rookie PSA NM-MT 8, and Luke Doncic NT Patch Auto /10 BGS Gem Mint 9.5

Newly Listed / Coming Soon

Around the Horn

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