Rally has offered collectors the chance to buy shares in expensive automobiles, rare baseball cards and sports memorabilia. Some collectors own a piece of a T206 Wagner, while others have a stake in game-used items or valuable modern cards.
Now, the New York-based mobile platform is partnering with Topps for its next project.
Topps is creating 12 2020 baseball factory sets, ten of which will be sold via shares offered on the Rally platform. The other two sets will be held by Topps. Each card in the set will be stamped in foil with “1st edition.” The limited edition sets will be available beginning at noon EDT on Friday, Aug. 14.
Like all fractional share offerings, the hope is that interest in the card sets will increase over time and investors will be able to sell their shares in the sets for a profit down the road.
10,000 shares of the sets will be offered, priced at $10 each.
“Three years after starting with classic cars, it’s incredibly rewarding to see how the brand has grown and matured over time,” said Rob Petrozzo, co-founder of Rally. “Rally has become a platform where, regardless of age or income level, anyone can invest in a wide range of collectibles and alternative assets. Our partnership with Topps takes this to a new level, as we’re now able to give our investors access to one-of-a-kind collectibles, created just for Rally, that money can’t even buy.”
“Throughout its history, Topps has created one-of-a-kind baseball cards that delight fans and collectors,” stated David Leiner, Topps’ global general manager of the company’s Sports & Entertainmen division. “This partnership presents Rally with the ability to offer a unique opportunity for collectors to own part of a rare collection, cementing another exciting moment in baseball card collecting.”
Rally was started in 2016 by Petrozzo, his boyhood friend Chris Bruno, and Max Niederste-Ostholt. According to Bloomberg, they got $2.9 million in seed money from Rev Ventures, plus some help from plus help from Social Leverage and other investors.
When they started the venture, the trio began selling shares of expensive automobiles, believing the public would be enamored with the idea of owning a piece of a high-end car.
That has extended to baseball cards and sports memorabilia, too.
A 1952 Topps Mantle card was the first sports item offered. The SGC 7 card went for $132 a share, and 264 investors swooped in and bought the available Mantle “stock” in a matter of minutes. Rally has continued to offer shares of high-end sports cards and memorabilia on a weekly basis, including a low-grade Wagner that was presented on Tuesday morning.
Petrozzo joined Yahoo Finance to talk about the project as it relates to the current landscape.
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