In what is a significant development in the highly-lucrative world of sports cards, the Loupe Tech has reportedly secured $3 million in funding to support its venture into developing its own streaming platform.

Loupe founder and CEO Eric Doty had this to say in a recent press release received by ClutchPoints:

“Demand for sports cards has skyrocketed over the past 12 months and it’s clear the hobby wasn’t prepared for the surge in buyers,” says Doty. “Our mission is simple: We want to bring modern technology to the card collecting hobby. The initial reception to Loupe has been so tremendous that we’re confident this segment has been itching for its own dedicated streaming platform. We’re fortunate to have partnered with fantastic investors, like Upfront Ventures, who share that vision with us at an early stage in our company’s history.”

There is no denying that the surge in popularity of collectible sports cards has been phenomenal over recent months. While most folks consider it to be a hobby, it has become a very profitable business for more than a few avid collectors. Loupe has recognized this demand, and with the growth of its own market, they have decided to further expand their service through the launch of their own streaming platform.

Greg Bettinelli, Partner at Upfront Ventures, also provided a statement on the recently-formed partnership:

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“The surging consumer interest in sports collectibles, live interactive video content, and new commerce platforms make Loupe a special opportunity,” said Bettinelli. “Eric and his business are combining the three elements of breakout marketplace success — current segment fragmentation, passionate fandom, and product scarcity — and we are thrilled to support him on this journey.”

As of writing, the Lupe Sports Card app is currently exclusively available to iPhone users, with the Android version still in the works.