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An example portfolio in Alt. Courtesy: Alt

Alt, a new platform where collectors can invest in trading cards as easily and transparently as stocks, went live on Thursday.

How it works: Alt aims to make trading cards a more manageable asset by giving customers a simple way to buy, sell, track and store them.

  • Portfolio management: Customers can easily upload their card collections and track their portfolio value in real-time.
  • Real-time valuation: Alt's proprietary "Alt Value" will allow collectors to get real-time data on how much their cards are worth.
  • Vault: Each customer's collection is securely stored in Alt's "vault," which is free for the first three months.
  • Low fees: Buying on Alt is free and transaction fees are just 1.5% of the total sale price, which is much lower than what eBay (12.5%) and some auction houses (12–25%) can charge.
An example portfolio in Alt (gallery view). Courtesy: Alt

What they're saying: "For decades, stocks, bonds, and foreign exchange have been the predominant investment vehicles, largely because they have been the most transparent and liquid," says founder Leore Avidar.

  • "Alternative assets such as real estate and venture capital can offer high yields uncorrelated with the stock market, but aren't as broadly accessible because they are more opaque and illiquid."
  • "Sports cards have been even less accepted as mainstream investment vehicles, despite the fact that they represent a great store of value and return uncorrelated with broader public markets."
  • "With Alt, we're turning sports cards — and eventually watches, sneakers, and art — into investable assets.

Funding: Alt has raised $31 million, and Alexis Ohanian's Seven Seven Six led the Series A. Other investors include Kevin Durant's Thirty Five Ventures, Larry Fitzgerald and Tobias Harris.

Screenshot: PWCC Market Indices

The big picture: The trading card market has vastly outperformed the stock market over the past 12 years.

By the numbers: Between January 2008 and December 2020, the PWCC 500 Index, which is basically the S&P 500 for trading cards, was up 270% compared to 160% for the S&P.

Go deeper: Read the full Axios Sports special report on the rise of sports fandom investing

Go deeper

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO sees making own chips as a matter of national security

Pat Gelsinger. Photo: Axios on HBO

Intel CEO Pat Gelsinger is putting the pressure on the U.S. government to help subsidize chip manufacturing, insisting the current reliance on plants in Taiwan and Korea as "geopolitically unstable."

Why it matters: There is bipartisan support for funding the domestic semiconductor industry, but Congress has yet to sign the check. The Senate has passed the CHIPS Act that includes $52 billion in semiconductor investment, but it has yet to pass the House.

Updated 2 hours ago - World

17 U.S. and Canadian missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

Children are among a group of 17 missionaries kidnapped in Port-au-Prince, Haiti, per a statement from Christian Aid Ministries Sunday.

The latest: "The group of 16 U.S citizens and one Canadian citizen includes five men, seven women, and five children," the Ohio-based group said. Haitian police inspector Frantz Champagne on Sunday identified the 400 Mawozo gang as the group responsible, in a statement to AP.

Ina Fried, author of Login
4 hours ago - Technology

Intel CEO wants to compete against Apple

Intel CEO Pat Gelsinger hasn't given up on the idea of the Mac once again using Intel chips, but he acknowledges it will probably be years before he gets that chance.

  • In the meantime, he is focused on powering Windows machines that give Apple CEO Tim Cook a run for his money.

Why it matters: In getting pushed out of the Mac, Intel not only lost a customer but picked up a new rival.