The LeBron James and Giannis Antetokounmpo cards that sold for a combined total of over $3.6 million recently were purchased by an alternative asset fund managed by a new platform that is planning to launch October 1.
Alt is aimed at those who want a place to manage alternative investments, including higher value trading cards, while providing real-time profit/loss numbers in much the same way that financial websites do for your stocks.
According to Axios.com, the core of the platform is “Alt Value” which will offer real-time valuations on specific cards they own. It’s similar to Zillow’s “Zestimate” tool that offers a market estimate on homes.
Details haven’t been released yet, but buying and selling assets will apparently be part of the interface.
A LinkedIn profile for Alt states “Alt is a platform where you can manage, insure, and leverage alternative assets. Whether it’s sports cards, shoes, watches, art or seed investments, Alt will automatically value your assets, secure your portfolio and help you invest intelligently.”
Alt will also serve as a secure place for investor/collectors to store their cards. The LeBron and Giannis cards purchased by Alt founder Leore Avidar are there now.
“We want Alt to be known for trust and security, so we’re literally saying, ‘We bought the two most expensive basketball cards in the world — and yours are going to be right there next to them,'” Avidar told Kendall Baker of Axios.
Alt is currently offering a ‘wait list’ for those interested in signing up.