Yahoo’s Collectibles Index & A New Fanatics-WWE Partnership
The first mainstream, investor-focused fractionalized collectibles index, and WWE chooses Fanatics to create trading cards and memorabilia
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
Yahoo Finance has launched a new fractionalized collectibles index
Yahoo Finance announced earlier this week that it had created a new collectibles index. The Total Collectable Index, which is a partnership with Pricing Culture, is meant to be the definitive tracker for the fractionalized collectables market.
The Total Collectable Index tracks 11 sub-indexes for SEC-registered cultural assets, including NFTs, trading cards, and sports memorabilia. The indices cover leading fractionalized investment platforms like Collectable, Rally Rd, and Otis (hey, that’s us!).
The index tracks more than 1,000 assets available on fractionalized investment platforms. The total market cap for the index is $500 million, with trading cards and sports memorabilia making up the largest shares.
Our Take: The Total Collectable Index is further recognition that collectibles are becoming a mainstream part of investing.
While not the first index of fractionalized collectibles, Yahoo Finance’s index marks the first time such an index has been created by a mainstream outlet for investing content. It’s also a sign that these once-niche asset classes are beginning to be accepted by the masses.
Fanatics and WWE sign massive collectibles deal
Trading card company Fanatics has signed a “long term” deal with WWE to manage its collectibles offerings. Fanatics will now be responsible for the wrestling organization’s trading cards, NFTs, and merchandise.
Fanatics will produce official NFTs for WWE through its Candy Digital subsidiary, while physical trading cards will be made by Topps (which Fanatics acquired in January for $500 million).
There are also plans to launch an official WWE Shop, which will sell merchandise projects in real time, based on current demand. Ostensibly, this means that when unpredictable events happen at WWE matches, merch will be ready minutes later.
Our Take: WWE is using Fanatics’s firepower to cash in on the trading card boom.
Trading cards and related collectibles are continuing to show strong momentum and nearly every major sports organization is considering its business response. In the digital world, upstarts like NBA Top Shot and Autograph have created much-hyped NFT projects. WWE sees Fanatics as a good partner for expanding its presence in the lucrative trading card realm. For Fanatics, a collab with WWE is the perfect opportunity to expand its Candy Digital brand.
✨ AROUND THE INTERNET
Are NFTs past their prime? Axios thinks so, but also says the market isn’t disappearing any time soon.
Sotheby’s and several other auction houses are taking steps to ice out collectors in Russia and Russian citizens who derive their income from business in the country.
DC is dropping a series of 200,000 NFTs based on Batman’s iconic headpieces.
Drake was opening cards on IG Live with Ken Goldin when he came upon a goldmine: a rare 1986 Fleer MJ rookie card worth upwards of $1 million.
Why does Questlove love collecting? It’s “a way to prevent the past from slipping away.”
