Join Altan Insights as we highlight trading activity across the various alternative marketplaces with a combination of charts and penned analysis to help investors track trends and price movements that impact their portfolio.
Sports cards set the pace this week on Collectable as cardboard helped propel the platform to a positive week. With 156 assets trading the entire week, the platform closed with a 0.22% average ROI and a 0% median return while sports cards gained 2.16%. This represents a slight jump up from last week when the average return across the platform was -0.97% and the ROI for sports cards was -1.22%.
The Josh Allen Gold Refractor continued to climb with a 41.94% return this week. The Josh Allen card is now up 340% on Collectable since IPO and has gained over 50% in the last two weeks. Closing in a close second was the 1957 Topps Johnny Unitas Rookie Card which gained 41.27% and is now up 12.3% over the last month despite still trading -11% below its IPO price. The Unitas card is the only recognized rookie of the Hall of Fame quarterback and this week's return represented a strong rebound after the card dropped -21.05% last week. Vintage baseball also got in on the act this week as the 1915 Shoeless Joe Jackson Sporting News Card climbed 32% after falling -29.9% last week.
While sports cards climbed, sports memorabilia stumbled. Game worn and game used memorabilia fell -6.24% on average as five of the ten worst-performing assets were jerseys or sneakers. The 1996 Kobe Bryant Game Worn Rookie Sneakers fell -37.88% this week while sneakers from his final season dropped -35.75%. The worst-performing sports cards this week was a 2004 Exquisite Emblems of Endorsement LeBron James which fell -35% while the Sidney Crosby Rookie Card Basket bounced -20% lower.
Golf was the best-performing sport this week with a 6.77% average return while football followed with a 4.26% average. Tennis ticked 3.65 higher and wrestling gained 1.65%. Hockey was the only sport to fall more than -4% this week as the sport from up north fell -8.16% while soccer and basketball-related assets dropped -3.57% and -2.38% respectively.
This week, Otis announced that they were acquired by the investment community and broker, Public. So how were prices impacted on their platform? In a late-week surge in valuation, the Grimes NFT soared to a triple-digit return and produced one of the most volatile order books we have reviewed to date.
On Friday, the price per share at 12:16 was $3.00 but in just ten minutes, was clearing at $2,600. In total, 11 shares transacted at that price which valued the collection at a $1.66 million market cap. For reference, the Grimes NFT IPO'd at a market cap of $6,400 and had been trading in the $100,000 range heading into the date. The Grimes NFT ultimately closed at $52 per share, representing a 139% week-over-week return. Even with the strong performance by Grimes, the average ROI on Otis was negative this week as the platform returned -1.29% across 112 traded assets. There were 10 different offerings that fell more than -21% including two sports cards which dropped more than -40%. The Kawhi Leonard RPA dropped -56% and the 2002 Ronaldo Rookie Card crumbled -42.57% as sports card fell -0.90% on average. NFTs and sneakers were the two best-performing assets this week with gains of 25.54% and 0.71% respectively.
After news broke that the Seattle Seahawks had traded Russell Wilson to the Denver Broncos, the only fractional Russ card saw an immediate spike in value. The Wilson rookie gained 22.67% and was the best-performing sports card on Otis. Video games and card games both fell more than -10% this week while memorabilia moved -2.81% lower. As more details about the future of Otis and their acquisition via Public become more public (pun intended), investors should continue to watch for significant price fluctuations and potential opportunities on an asset by asset basis.
The average return on Rally closed at -2.18% while 264 different assets traded across 11 different asset classes. While three different offerings gained more than 50%, there were five assets that fell -50% or more while ten different offerings dropped at least -36%.
The 2004 UD Extra Exquisite LeBron James Rookie Card gained 63% to lead all assets this week while the 1985 NES Wild Gunman gained 56% to close in second. Last week, Wild Gunman fell -35.9% and was the second-worst performing video game at Rally. Comic books were the best-performing asset class this week with a 2.81% average return and the sector was led by the 1943 DC Comics Superman #21 which gained 55.56%. Luxury closed in second and the asset class was carried by the Hermes 30CM Tangerine Ostrich Birkin which bounced 45% higher. Sports cards were the most represented asset class once again with 73 offerings trading but the sector fell -1.98% on average.
In their first week trading, the set of 10 Curio Cards dropped -62.67% to close as the worst-performing asset. Another NFT that got off to a slow start was the Laser Eyed Bored Ape #4612 which fell -55.71%. As a result, NFTs were the worst-performing asset class with a -18.08% average return while card games fell -5.14%.
Disclaimer: You understand that by reading Altan Insights, you are not receiving financial advice. No content published here constitutes a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. You further understand that the author(s) are not advising you personally concerning the nature, potential, value or suitability of any particular security, transaction, or investment strategy. You alone are solely responsible for determining whether an investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal financial situation. Please speak with a financial advisor to understand if the risks inherent in trading are appropriate for you. Trade at your own risk.