Collectible Card Market Attracts American Basketball Stars

Posted on Jul 27, 2021, 7:12 PM

After digital works of art, will collectible sports cards become the popular NFTs? According to Bloomberg, American basketball superstars Chris Paul and Kevin Love are among the investors who bet on Dibbs, a digital sports card trading platform. The company announced on Tuesday that it had raised a total of $ 13 million.

“The creation of new digital platforms creates meaningful new ways to interact with fans,” said Chris Paul, point guard for the Phoenix Suns. The player is convinced that Dibbs will make the collectible card market more “accessible”.

Encourage investment through NFTs

The platform, which already has 17,000 users in the United States, makes it possible to buy and sell collectible sports cards in real time. Investors with more modest portfolios also have the possibility of acquiring fractions of each card, thanks to a system of NFT (“non fungible tokens” or “tokens non fungible” in French), a kind of digital certificate of ownership based on blockchain technology.

When a card goes on sale, Dibbs stores it in a safe and investors can then buy and sell portions of the card, converted to NFT. The collectible card remains on deposit until an investor purchases all of the card’s shares and decides to remove it from the safe, the Bloomberg agency explains. The company is remunerated by taking commissions on each of the transactions between collectors.

A promising market

By dividing each card into several lots, the platform drastically lowers the costs of entering a market where prices can reach staggering sums. In January, a collector auctioned off a baseball card for $ 5.2 million – a record. The price of Pokémon cards has also skyrocketed in recent months – a sign that the collector’s craze is real.

“Collectibles have proven their worth for centuries,” said Evan Vandenberg, co-founder and CEO of Dibbs, in an interview. The latter intends to integrate other items into the market, such as match tickets.

Other companies specializing in the collectible card sector are showing very good dynamics. Topps Co, a company that markets baseball cards, is preparing to go public in the United States. In France, the start-up Sorare, which publishes virtual cards that it sells in NFT, raised more than $ 500 million in June, the largest fundraiser in the history of French Tech, and counts among its investors the footballer Antoine Griezmann.

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