Tuesday, September 22, 2020

Alt "will allow investors to manage trading cards and other alternative assets similarly to the way they manage...stocks and bonds"

Axios:

Perhaps you heard about the Giannis Antetokounmpo rookie card that sold for a record $1.81 million this week? Or the LeBron James rookie card that sold for a then-record $1.8 million in July?

Both cards were purchased by Alt through the company's inaugural asset fund, Alt Fund I — and both now sit in the vault.

"We want Alt to be known for trust and security, so we're literally saying, 'We bought the two most expensive basketball cards in the world — and yours are going to be right there next to them,'" says Avidar.

The bottom line: The modern trading card industry has created a new type of collector whose less interested in nostalgia and more interested in building a financial portfolio.

And since a card's value is correlated to an athlete's performance — and not the stock market — it's an attractive option for people looking to diversify.