Roundup: Hypebeast on NASDAQ, a BAYC restaurant, and Sotheby’s crypto rebrand
April 15, 2022
Moriah Costa

📰 In the Headlines

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‍Hypebeast will list on NASDAQ in a star-studded SPAC deal  

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• The culture company announced plans to list on NASDAQ amid a booming interest in sneakers and streetwear. Hypebeast, which is already publicly traded in Hong Kong, will merge with a SPAC in a deal that values the company at $534m.  

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• The transaction has some serious star power behind it: Tom Brady, Naomi Osaka, and Jonah Hill will all become investors in Hypebeast. The deal is expected to close over the summer.  

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• Fun Fact: Hypebeast has expanded from its humble origins as a sneaker blog to become a one-stop shop for streetwear content. It’s planning to use the cash from the listing to boost its e-commerce segment, as well as continue its metaverse expansion.

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A BAYC restaurant is opening in California  

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• A restaurateur in Long Beach, CA has opened the first Bored Ape-themed restaurant. Bored & Hungry serves burgers and fries and will only accept ETH and $APE, BAYC’s token.  

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• Andy Nguyen, the restaurant’s owner, shelled out $267k for an Ape a few months ago. That purchase gave Nguyen the commercial rights to the Ape’s intellectual property, which he then used to launch the restaurant.  

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• Fun Fact: Bored & Hungry will also take advantage of Token Gating, which offers additional perks to holders of a certain NFT. The restaurant will offer free combos and other perks to customers who have $APE tokens, or Bored Apes/Bored Ape spinoffs.

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Love it or hate it, Sotheby’s is crypto cool  

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• The 278-year-old auction house has managed to rebrand itself for a new generation of collectors. By embracing NFTs and other hip categories, as well as new tech, Sotheby’s has managed to modernize faster than most of its competitors.

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• Sotheby’s got in early on the NFT game, which allowed it to get ahead of the other major auction houses. It sold nearly $100m in digital collectibles last year, a significant showing but still far lower than OpenSea, which did $5b in sales.  

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• Fun Fact: The pandemic forced Sotheby’s to embrace things like live online bidding, Netflix-style predictive algorithms, and cryptocurrency payments. This brought in many of the young collectors that bought NFTs and other collectibles.    

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‍🔥 From the Otis Collection

• A Tiger Woods signed Rookie Card (2001 Authentic Stars #45 PSA GEM MT 10) sold for $67.2k at Goldin Auctions on Sunday. The same card graded BGS 9.5 is on the Otis platform at market cap of $16,167.60 as of trading close 4/14.  

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• A number of comics sold at Heritage Auctions last week, including: The Incredible Hulk #181 for $96k, and two copies of Giant-Size X-Men #1 for $52.8k and $46.8k. Otis has copies of both trading market caps of $72.5k and $35.1k, respectively, as of trading close 4/14.

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• FEWOCiOUS sold $20m worth of NFTs in 24 hours, the third-highest amount on NFT marketplace Nifty Gateway. FEWOCiOUS’s NFT i miss your voice call back soon okay (#3/16) is trading on Otis.

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• Tiffany & Co. Vice President Alexandre Arnault turned his CryptoPunk #3167 into a rose gold and enamel pendant designed by the luxury jewelry maker. Otis has two CryptoPunks trading on the platform, CryptoPunk #2142 and CryptoPunk #543.  

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• Purses aren’t just for women anymore. Men are increasingly coveting extravagant Hermès handbags. The 2011 Hermès Birkin 35 So Black is currently trading on Otis.

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• Serena Williams could return to Wimbledon this year, she confirmed in a video posted to her Instagram. The tennis star has not played since dropping out of the first round of Wimbledon last year due to an injury. A Serena Williams Preview Rookie Card (2003 NetPro Glossy Int’l Preview #P2/500 PSA 10) is trading on Otis.  

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• Paris Saint-Germain Lionel Messi made French history when he became the first player in Ligue 1 history to provide three assists in two games. Several Messi cards (Green Prizm, Campeon, 2004 Mega Cracks) are trading on Otis.

Roundup

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