Pokémon Card Deals & NFTs Arrive In Venice
Pokemon buys its card manufacturer, and news from the Venice Biennale
Cultured is a newsletter that gets readers up to speed on the most interesting things going on at the intersection of finance, art, collectibles, NFTs, and more. Cultured is produced by Otis, an alternative investment platform that was recently acquired by Public.com.
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🗞 STORIES OF THE DAY
Pokémon now owns the company that makes its cards
The Pokémon Company, which owns the Pokémon franchise (duh), has acquired its longtime card-making partner. Millennium Print Group prints all of the cards for Pokémon’s trading card game and has worked with the company since 2015.
The goal of the acquisition is to develop Millennium’s capabilities and existing infrastructure. The press release hints at plans to expand beyond Pokémon and serve the broader industry.
Trading cards have surged in popularity since the pandemic started, and Pokémon is no exception. In February, the company announced it would print more cards to meet demand. This acquisition suggests Pokémon expects continued growth.
Our Take: The popularity of trading cards is leading to consolidation.
Pokémon’s decision to buy its card manufacturer is just the latest sign of major companies consolidating amid a boom in the trading card market. Collectors (nee Collectors Universe) has been on an acquisition kick this past year, as has Fanatics. As the market grows, the big companies are looking to solidify their dominance by swallowing up smaller players.
The Venice Biennale opens, and NFTs have made their appearance
The Venice Biennale, the art world’s biggest biannual event, opens today. The exhibition, which runs until June and is centered around a series of national pavilions, also includes a series of NFT-focused events.
Cameroon’s debut pavilion will be dedicated to crypto art and feature work by the country’s artists, as well as international names. It’s funded by Global Crypto Art DAO.
Nearby, the Decentral Art Pavilion will host an Art Blocks show. The generative NFT project will also participate in other events, including a collaboration with SuperchiefNFT.
Our Take: NFTs are playing a small but significant role in their first Biennale.
This was the first year that NFTs made an appearance at the Biennale — the last Biennale was in 2020, before NFTs went mainstream. While most pavilions chose more traditional artists this year, NFTs did make it to both a national pavilion and in a dedicated exhibition site. In other words, they’ve landed with quite a splash.
✨ AROUND THE INTERNET
Who’s doing NFTs now? AC Milan, The Golden State Warriors, The NBA (again), Archie Comics, Paramount, aaaaand… Norwegian Cruise Line. Check out the full list of NFTs by celebs and big brands on Otis Mag.
In Paris, the Fondation Louis Vuitton has opened a new Virgil Abloh exhibition.
The last-ever Lamborghini Aventador Ultimate Coupé is up for auction and it comes with an NFT and digital twin.
Coinbase has finally launched its NFT platform. The timing is…not so good.
A Jackson Pollock drip painting is expected to sell for at least $45 million at auction. That would make it one of the artist’s top-selling paintings.
Weekend read: The Wolf of Wall Street is now a crypto bro. It’s kind of funny, kind of sad.
