Fractional trading card platform Dibbs announced Thursday that it had received an investment from Amazon. There was no immediate word on the size of the funding round from the online giant.
Amazon’s investment comes on the heels of Dibbs’ $13 million Series A announced in July from a variety of investors including some current and former pro athletes.
Dibbs allows customers to buy, sell and trade fractions of sports cards from any connected device.
The news regarding Amazon’s investment was delivered as part of Dibbs’ announcement that it had launched a peer-to-peer marketplace on its platform called Sell With Dibbs. The concept allows users to monetize cards they own that are currently among those being traded on the marketplace through fractional shares.
Once the physical card is verified, the seller submits it to Dibbs, where it is securely vaulted and insured at no cost. The card is then fractionalized and added to the user’s account for them to fully control the price, quantity of shares available and other factors.
Dibbs says spellers get instant and flexible liquidity with the financial benefits of a fractional market—they can sell as much or as little of their card as they want, whenever they want, with a flat, 2.9 percent transaction fee on each fraction sold.
“For too long, the collectibles market has been riddled with barriers to entry that render it inaccessible and inequitable. Traditional ownership has limitations that the emerging metaverse eliminates. Moving these collectibles, which genuinely represent an individual’s online persona, into the digital domain is essential for the future of ownership and identity,” said Dibbs Founder and CEO, Evan Vandenberg. “We’re proud to establish Dibbs as a two-sided marketplace that offers both buyers and sellers stable pricing, instant and flexible liquidity, and transparent fees. Sell With Dibbs is yet another way we’re making collectibles more accessible by meeting collectors where they are, which today is on their phones and connected devices. Once an item is tokenized it gains immense capabilities and can be utilized in ways we’re only just beginning to understand.”
Physical cards and NFTs on Dibbs are vaulted and fractionalized using smart contracts, enabling users to collect, buy, or sell as much or as little as they want. Dibbs also offers Frac Packs, which build on Dibbs’ core offering of tokenized, fractional interests in physical collectibles by creating a digital pack of fractional tokens. Collectors who accumulate 100 percent of any physical asset on Dibbs can take possession and have it shipped to their home. Since launching publicly in the summer of 2021, Dibbs says it has processed millions of dollars across hundreds of thousands of trades.
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Notes: Bloomberg on Hobby Topics; HOF Happenings; Heritage Hires Maddalena
