Rally, one of the fractional ownership platforms for pricey sports cards and memorabilia, has just received a $17 million cash injection from investors.
According to Tech Crunch, Reddit co-founder Alexis Ohanian is one of those who have pumped cash into Rally, which has nearly 200,000 users who use an app to buy shares of ownership in things like classic sports cars and wine, too.
Based in New York, Rally launched in 2017 as a way for those who can’t afford to buy an alternative asset by themselves to still take ownership in a particular item, with hopes of turning a profit down the road.
On Friday, they’ll offer 11,250 shares of a 2009 Bowman Chrome Mike Trout Orange Refractor for $20 each.
They soon plan to put up 10,000 shares of the 1937 Heisman Trophy won by Clint Frank for $46 per share and a Roberto Clemente game-used bat.
Another fractional shares app, Collectable, will be offering 10,000 shares of a 1986-87 Fleer Michael Jordan rookie card graded PSA 10 this Friday. Each share will be priced at $10.
The last sale of a PSA 10 Jordan rookie was in August, setting a record at $111,000. An SGC 10 Pristine Jordan rookie in the same auction for $420,000.