Stay in the know about what's happening in collectibles, NFTs, culture, and investing.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
• 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.
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