Not Your TYPSical Air Jordan's

Today at 12 PM EST, Otis will IPO a pair of '1985 Michael Jordan AJ1 Player Exclusive "TYPS"' (Signed). The financials:

  • Market Cap: $67,500
  • Price Per Share: $10.00
  • Total Shares: 6,750
Autographed Air Jordan 1 TYPS

Background

• Mother Knows Best...
It's Summer, 1984, and Michael Jordan has yet to step foot on an NBA court. Converse is the official shoe of the NBA and boasts an impressive roster of talent that includes Magic Johnson, Larry Bird and Dr. J. among other stars. Converse likes Mike, but they make their intentions clear: they won't put him ahead of their other big name NBA talent. MJ prefers Adidas, but Adidas can't commit to making a Jordan shoe (ouch). A small company named Nike, known for track and tennis shoes at the time, requests a meeting. MJ doesn't see the fit, but his mother Deloris tells him he has to give them the opportunity to make their pitch. Nike nails it and the Jordan brand is born. Nike hopes to sell $3 million worth of Air Jordan's by year 4 of their contract. They generate $126 million in year one. Mother always knows best. Adidas, not so much...

"It's gotta be the shoes"... Yes, Mars, it's the shoes. These 1985 Player Exclusive Air Jordan 1's were customized for MJ to wear prior to the retail version they soon inspired (note: this particular pair are not game-worn). "TYPS" (pronounced "T. Y. P. S.") is an acronym for "Tong Yang Player Sample", as the 'Tong Yang' factory produced these AJ1 'Player Samples'. TYPS include MJ's personal specifications: a size 13 left shoe and a size 13.5 right shoe, as well as an adjusted lower back collar. We know you want to learn more about MJ's feet, but now we have to talk about his...

Rookie Autograph... The fame to autograph quality scale is very real when it comes to His Airness. The left sneaker of this offering has an early Michael Jordan autograph, signed between the years of 1984-86. The early career autograph is more accurate and legible than his later autographs, many of which consisted of an 'M' and a 'J' and some squiggles. Otis estimates that there are 15-20 pairs of deadstock Air Jordan 1 TYPS in circulation. There are only two verified pairs in deadstock condition that include an accurate signature, and this offering is one of those two. The shoes and the signature have been authenticated by Christie's and JSA.

Takeaway

• Encore
... No, we're not talking about his return with the Wizards. Last week, Otis dropped a '2003 Lebron James Topps Chrome #111 Refractor' (PSA 10) card, their first foray into Sports Cards. This week, they jumpman into Sports Memorabilia. The drops further cements Otis as a generalist in the fractional marketplace landscape. The platform has now offered fractional shares of artwork, comic books, sneakers, skateboards, sports card/memorabilia, and a video game.

• GOAT Shoes... Jordan memorabilia remains red hot, fueled by a strong year for memorabilia but even more so the ESPN documentary 'The Last Dance' which aired in April and conjured up all the Jordan feels. MJ sneakers are no exception. In May, a pair of game-worn player sample signed TYPS sold at auction for a record breaking $560,000. The record didn't last long. In August, a pair of Air Jordan 1's that were worn by MJ during an exhibition game in Italy in 1985 in which he broke the backboard dunking leaving a piece of glass in the sole of the left shoe, sold at auction for $615,000.

• Pieces of Greatness... It's important to take stock of Jordan memorabilia on fractional share marketplaces when assessing this offering. Otis, Rally, and Collectable have now offered a Michael Jordan card and/or memorabilia. This IPO will be the 6th MJ offering. Rally has had 2 Jordan exits, a signed '1998 Game-Worn Jersey' and a '1986 Fleer #57 Rookie Card' (PSA 10), which returned investors 22.89% and 79.1%, respectively. Their other MJ offerings consist of a pair of '1988 Game-Worn Sneakers', up 354% (the most of any asset on fractional share secondary markets), and a '2003 UD Exquisite Collection' autographed jersey patch card (BGS 9.5), which has yet to trade. Collectable IPO'd the '1986 Fleer #57 Rookie Card' (PSA 10) on October 1, the most recent MJ asset offered. Otis Trading is currently in beta and set to launch on October 26, which is exciting and welcome news for the fractional share alternative asset industry. It means that the signed '1985 Michael Jordan AJ1 Exclusive "TYPS"' could begin trading as soon as late January, 2021 after the initial 3-month lockup period ends. In the meantime, to secure shares of the IPO, make sure you are logged into Otis at 12 PM EST tomorrow.


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