“We have a bunch of people buying and selling cards on our platform like they do on eBay, except they don’t take possession of it and they can figure it out because they know there is has a card at the end of the day and if they need it, they can click ‘ship to me’ and they can get the card, ”said Leore Avidar, Founder and CEO of Alt. you get Gen Z and even millennials going, “You know what, I don’t need the physical thing, I just want to be able to trade the rights to it anytime.”
Serious or casual, collectors can ship their cards to Alt, where depending on the service you want to pay for, the cards can be shipped to be filed, scanned, and brought to market, which, because the actual safe of Alt is located in Delaware, without sales tax, removes this commercial layer.
There is a parallel in Alt’s system with NFTs (non-fungible tokens, a digital asset secured by cryptography) in that the transfer of ownership takes place virtually, with the card remaining in the safe when the sale is made. .
Eventually, Avidar said, Alt will switch to blockchain technology that supports NFTs, but there will be a real card at Alt.
“Anytime someone who has an NFT can come to Alt and say, ‘Hey, I have the NFT for that Michael Jordan card’, and we’ll actually send it to you and you can actually trade the physical asset. at any point in time, it combines the physical and digital world in a very different way, ”said Avidar.
Then there’s Alt Lending, which is Alt’s move to turn collectibles into an asset class that’s just as good to borrow as any other.
“We don’t use the word bank, but if you can imagine, if you have something of value like a stock or a property, you can go to a bank and get a loan,” Avidar said. “But imagine if you have a very valuable Charizard (Pokémon card) or Michael Jordan, how can you get a mortgage with that?” That’s what Alt is really here for, to give you the resources and tools like a bank does, but for the assets the world is moving towards.
Maybe your card collection contains more Mike Greenwells than Mike Trout and your financial means mean you can’t even consider owning a new Trout, Jordan, LeBron James card or a vintage Mickey Mantle or Honus Wagner card. with a high price.
A service such as Rally or Collectable allows you to bid on fractional ownership shares of these rarities.
As the value of the card increases or decreases, the value of your share also increases.
It’s similar to the stock market, where stock owners don’t actually have their stocks in their hands (or their sock drawers).
The thrill of contemplating your own cards held in your own hands or printing your eBay shipping label cannot be duplicated.
Nor can it be imposed on the next generation of collectors.