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Last week, the average return on Rally climbed and closed in the green as the platform finished with a 1.95% return across 311 traded assets. This week, the average return dropped significantly as the platform closed with a -6.14% ROI and a -2.14% median. While multiple assets experienced large sell-offs, there were still a few winners in a difficult week for stocks and crypto.
Leading the way this week was Melville's Moby Dick, which jumped 61.25%. Even with the strong return this week, the classic novel is still down -7.86% since IPO. Finishing as the runner-up was the 2001 Apple iPod which climbed 51.67% and is now up 82% since IPO. Closing in third was the 2000 Pokemon Neo Genesis Lugia Card which gained 48.65% but is still down -75% since IPO. Books were the 'best' performing asset class this week with a -2.3% average while trading card games closed in second at -2.94%
The losses were heavy this week on Rally and they were spread across every asset class on the platform. The bottom performer was the 1965 Mustang Fastback which fell -56.36% while the 1988 NES Super Mario Bros. 2 dropped -50% to close in second. Rounding out the bottom three was the 1965 Rolex 1601 Datejust which dropped -48.84%. There were three NFTs among the six worst-performing assets this week and the sector stumbled -28.54% on average to close as the worst-performing asset class. Meebits and Squiggles were most impacted by the losses as Meebit #15511 fell -48.33% and the Chromie Squiggle #5847 dropped -46.94%.
Comic books fell -10.02% on average while video games dropped -8.95%. Sports cards are still the most-traded asset class on Rally and the sector slipped -5.51% on average this week across 83 traded offerings.
This marked the fourth straight week of a negative average returns on Collectable and also marked the fifth straight week that a piece of sports memorabilia was the best-performing asset. The platform also experienced a continued rotation into more non-traditional assets such as a Nikola Jokic rookie and Josh Gibson/Satchel Paige card basket.
Leading this week was the AZG Rookie Game Worn Sneakers from LeBron James which gained 61.29%. This is also the third straight week that a pair of modern NBA sneakers were the best performing asset after the 2006-07 Chris Bosh Air Force 25's led the previous two weeks. In second was the 2003 NetPro Elite Serena Williams Basket which bounced 46.34% higher after falling -21.15% last week. The Chicago Bulls Hardwood finished in third and gained 21.05% after dropping -29.89% last week.
Those Chris Bosh sneakers which had led on Collectable for two straight weeks sold-off this week as they fell -43.66% to close as the worst-performing asset. The 2014 Mookie Betts Blue Refractor basket dropped -43.04% to close in second while the Mickey Mantle ticket stub stumbled -42.5%. Sports cards are now down more than -10% over the last three weeks while sports memorabilia has dropped 7.23% in the last two weeks. In total, there were ten different assets that fell more than -25% this week and only two offerings that gained more than 25%. Wrestling was the worst-performing sport with a -23.81% ROI while soccer slipped -12.59%. The big three of football, basketball, and baseball returned -2.25%, -3.89%, and -4.77% respectively.
After consecutive weeks of negative average returns, the weekly average ROI on Otis closed in the green as the platform closed with a 3.49% average. The median still remained unchanged however, as liquidity continues to be limited and the asks outweigh bids in most order books.
Leading this week was Felipe Pantone's "CHROMADYNAMICA MSS" which gained 66.67%. The artwork is now up that same amount since its inception and has climbed 72.41% since IPO. In second was the Nike SB Dunks Low 'Freddy Krueger' which gained 63.64% and the 1985 Air Jordan 'Red Metallic' Sneakers added 61.97% to round-out the top three performers. Sneakers returned 10.03% on average this week to lead all assets while NFTs on Otis jumped 8.78%.
Books, which are represented by the first edition copy of Harry Potter, were the best-performing sector two weeks ago when the Potter novel gained 22.53%, but have since fell -18.76% over the last two weeks as books again finished as the worst-performing asset class. The copy of Amazing Spider Man #129 tumbled -46.15% this week to finish at the bottom on Otis while the NBA Emerging 15 Index dropped -33.33% to close in second. Comic books finished with a -3.96% average while sports memorabilia moved -0.56% lower on average.
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