Roundup: Introducing the Backstory
Rupa Bhattacharya

Welcome to Otis Roundup, a brief overview of what’s going on in art and culture. This week, when we weren’t unilaterally declaring ourselves the head of Adidas, this is what we got into. 

The Backstory Podcast: Chris Gibbs Wakes Up Every Morning to Jayson Musson’s Art

We’re excited to announce The Backstory, a new podcast from the Otis team that goes deep with some of the world’s most exciting creators, cultural figures, collectors, and artists about the items and objects that motivate them. Hosted by Sean Williams and Dan McQuade, The Backstory gives you an insider’s look at some of the most interesting people shaping our culture today. 

For our first episode, Sean and Dan are joined by Chris Gibbs, owner and operator of Union Los Angeles, for a look at the work of artist Jayson Musson — whose provocative riffs on high and low culture touch everything from Coogi sweaters to YouTube performance art — and specifically his breakout zine Too Black for B.E.T. Listen here, or wherever you get podcasts.

Otis Magazine: What Happened to the Reebok Pump?

The Reebok Pumps were a pop culture phenomenon even before they went on sale in November of 1989. They were famously and controversially expensive — $170 at launch, an outlandish figure that led to a moral panic in the nation’s newspapers. Reebok, until then previously best known for women’s aerobic footwear, even managed to briefly pull ahead of Nike in market share as a result. They are etched in basketball lore: Legendary dunker Dominique Wilkins — the future NBA Hall of Famer nicknamed “The Human Highlight Reel” — wore the Pump for his 1990 Slam Dunk Contest win. They had a controversial “banned” commercial. They inspired legions of knock-offs. 

And they were a blip in the history of sneakers — an early 1990s fad. By the time POGs hit, Pumps were on the way out. Today a successor to the original shoe is the only Pump sneaker the company sells. How’d this happen? Head to Otis Magazine to find out. 

Of Interest

• Chadwick Boseman will be honored on future Marvel comic book covers

• All the blue-chip-art clichés inside Christopher Nolan’s Tenet

• What is the Guggenheim going to do with the Art Basel banana?

• Watchmen’ just became the first comic-book adaptation to win an Emmy.

• Who has the right to repatriate looted art

• The world’s first entirely virtual art museum is open for business

• Comic artist Tom Reilly revisits the Silver Age X-Men.

• The monuments we need, the monuments we’re getting, and where the old ones are going.  

News From the Otis Collection

• Banksy’s Monet interpretation Show Me the Monet (the one he first showed in a room full of live rats) is going up for auction next month; EU courts, meanwhile, ruled that Banksy cannot copyright a graffiti image

• Travis Scott’s burgers are so popular they’re breaking the McDonald’s supply chain

• See Derrick Adams’s transformation of a Harlem children’s hospital (while his new show at the MFA St. Petersburg showcases the joy of Black relaxation).

• The role of Jordan sneakers in a booming global market. 

• Spot the KAWS and Murakami in J Balvin’s stunning Medellin home

• The Union x AJ4 “Off Noir” has an official release date.

• Kehinde Wiley has been named to the Root 100 list of most influential African Americans.

OTIS WEALTH, INC. (“OTIS”) OPERATES THE WITHOTIS.COM WEBSITE (THE “SITE”) AND A MOBILE APP-BASED PLATFORM (THE “APP”), AND IS NOT A BROKER-DEALER OR INVESTMENT ADVISER. ALL SECURITIES-RELATED ACTIVITY IS CONDUCTED BY DALMORE GROUP, LLC (“DALMORE”), A REGISTERED BROKER-DEALER AND MEMBER OF FINRA (WWW.FINRA.ORG) AND SIPC (WWW.SIPC.ORG), LOCATED AT 525 GREEN PLACE, WOODMERE, NY 11598. YOU CAN REVIEW THE BROKERCHECK FOR DALMORE HERE. AN UP-TO-DATE DALMORE FORM CRS IS AVAILABLE HERE.

YOU SHOULD SPEAK WITH YOUR FINANCIAL ADVISOR, ACCOUNTANT AND/OR ATTORNEY WHEN EVALUATING ANY OFFERING. NEITHER OTIS, ITS AFFILIATED ISSUERS NOR DALMORE MAKES ANY RECOMMENDATIONS OR PROVIDES ADVICE ABOUT INVESTMENTS. THE SITE AND THE APP MAY MAKE FORWARD-LOOKING STATEMENTS. YOU SHOULD NOT RELY ON THESE STATEMENTS BUT SHOULD CAREFULLY EVALUATE THE OFFERING MATERIALS IN ASSESSING ANY INVESTMENT OPPORTUNITY, INCLUDING THE COMPLETE SET OF RISK FACTORS THAT ARE PROVIDED FOR YOUR CONSIDERATION.

OTIS GALLERY LLC (“GALLERY”) AND OTIS COLLECTION LLC (“COLLECTION”) ARE CONDUCTING PUBLIC OFFERINGS PURSUANT TO REGULATION A AND PRIVATE OFFERINGS PURSUANT TO REGULATION D UNDER THE SECURITIES ACT OF 1933, AS AMENDED, THROUGH THE APP. THE OFFERING CIRCULAR FOR GALLERY CAN BE FOUND HERE, AND THE OFFERING CIRCULAR FOR COLLECTION CAN BE FOUND HERE. THE PRIVATE PLACEMENT MEMORANDUM FOR ANY OFFERING CONDUCTED PURSUANT TO REGULATION D HAS BEEN OR WILL BE, AS APPLICABLE, DISTRIBUTED DIRECTLY TO INVESTORS. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. INVESTMENTS SUCH AS THOSE ON THE OTIS PLATFORM ARE SPECULATIVE AND INVOLVE SUBSTANTIAL RISKS TO CONSIDER BEFORE INVESTING, OUTLINED IN THE RESPECTIVE OFFERING MATERIALS AND INCLUDING, BUT NOT LIMITED TO, ILLIQUIDITY, LACK OF DIVERSIFICATION AND COMPLETE LOSS OF CAPITAL. KEY RISKS INCLUDE, BUT ARE NOT LIMITED TO, LIMITED OPERATING HISTORY, LIMITED DIVERSIFICATION, RISK OF ASSET DAMAGE OR THEFT AND LACK OF VOTING RIGHTS. ALSO, THE ADVERSE ECONOMIC EFFECTS OF THE COVID-19 PANDEMIC ARE UNKNOWN AND COULD MATERIALLY IMPACT THIS INVESTMENT. AN INVESTMENT IN AN OFFERING CONSTITUTES ONLY AN INVESTMENT IN A PARTICULAR SERIES AND NOT IN OTIS, GALLERY, COLLECTION OR THE UNDERLYING ASSET(S). INVESTORS SHOULD CAREFULLY REVIEW THE RISKS LOCATED IN THE RESPECTIVE OFFERING MATERIALS FOR A MORE COMPREHENSIVE DISCUSSION OF RISK.

INVESTMENT OVERVIEWS CONTAINED HEREIN CONTAIN SUMMARIES OF THE PURPOSE AND THE PRINCIPAL BUSINESS TERMS OF THE INVESTMENT OPPORTUNITIES. SUCH SUMMARIES ARE INTENDED FOR INFORMATIONAL PURPOSES ONLY AND DO NOT PURPORT TO BE COMPLETE, AND EACH IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE MORE-DETAILED DISCUSSIONS CONTAINED IN THE RESPECTIVE OFFERING CIRCULAR FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) OR OTHER OFFERING MATERIALS RELATING TO SUCH INVESTMENT OPPORTUNITY.

FROM TIME TO TIME, AFFILIATES OF OTIS WILL SEEK TO QUALIFY ADDITIONAL SECURITIES UNDER REGULATION A. FOR OFFERINGS THAT HAVE NOT YET BEEN QUALIFIED, NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED AND, IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY SECURITIES CAN BE ACCEPTED, AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED, UNTIL AN OFFERING STATEMENT FILED WITH THE SEC HAS BEEN QUALIFIED BY THE SEC OR UNLESS AS STATED IN THE OFFERING MATERIALS RELATING TO AN INVESTMENT OPPORTUNITY, AS APPLICABLE. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE DATE OF QUALIFICATION BY THE SEC OR AS STATED IN THE OFFERING MATERIALS RELATING TO AN INVESTMENT OPPORTUNITY, AS APPLICABLE. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND.

OTIS DOES NOT OFFER REFUNDS AFTER AN INVESTMENT HAS BEEN MADE. PLEASE REVIEW THE RELEVANT OFFERING MATERIALS AND SUBSCRIPTION DOCUMENTATION FOR MORE INFORMATION.

AN ACTIVE TRADING MARKET FOR ANY SERIES OF GALLERY OR COLLECTION INTERESTS MAY NOT DEVELOP OR BE SUSTAINED. IF AN ACTIVE PUBLIC TRADING MARKET FOR GALLERY OR COLLECTION INTERESTS DOES NOT DEVELOP OR IS NOT SUSTAINED, IT MAY BE DIFFICULT OR IMPOSSIBLE FOR YOU TO RESELL YOUR INTERESTS AT ANY PRICE. EVEN IF AN ACTIVE MARKET DOES DEVELOP, THE MARKET PRICE COULD DECLINE BELOW THE AMOUNT YOU PAID FOR YOUR INTERESTS. THERE IS NO ASSURANCE THAT THE OTIS PLATFORM WILL PROVIDE AN ACTIVE MARKET FOR RESALES OF GALLERY OR COLLECTION INTERESTS. FURTHER, WITHOUT THE OTIS PLATFORM, IT MAY BE DIFFICULT OR IMPOSSIBLE FOR YOU TO DISPOSE OF YOUR INTERESTS. IF THE MARKET DEVELOPS FOR ANY SERIES OF GALLERY AND/OR OTIS COLLECTION INTERESTS, THE MARKET PRICE OF SUCH INTERESTS COULD FLUCTUATE SIGNIFICANTLY FOR MANY REASONS, INCLUDING REASONS UNRELATED TO PERFORMANCE, THE UNDERLYING ASSETS OR ANY SERIES, SUCH AS REPORTS BY INDUSTRY ANALYSTS, INVESTOR PERCEPTIONS OR ANNOUNCEMENTS BY COMPETITORS REGARDING THEIR OWN PERFORMANCE, AS WELL AS GENERAL ECONOMIC AND INDUSTRY CONDITIONS.