Alt turns sports cards into stocks
The Future. Inspired by his ability to turn a $20,000 investment in sports cards into $10 million, Leore Avidar founded Alt last year, which allows users to trade cards as if they were stocks. The market is, surprisingly, red hot — and with the rise of NFT technology, those cards (and their digital monikers) may be able to provide a more secure way to trade those (literally and figuratively) flimsy assets and also act as a key to access exclusive events.
Speaking to Insider, Avidar expressed why sports cards are a bonafide asset class.
- The market return was 392% between 2008 and 2020 — nearly 250 points higher than the S&P 500.
- The market is currently worth over $20 billion.
- Basketball cards are especially valuable because the sport is a global phenomenon. (Can’t go wrong with LeBron James or Giannis Antetokounmpo.)
- And nothing is more valuable than a rookie card.
In the future, Avidar wants to transform Alt into a broader alternative assets platform, allowing users to buy shares in everything from sneakers to watches to Pokémon cards.