There’s a growing trend in the NBA cards industry where NBA stars are becoming more active in it. A good example was when Kevin Durant, Mark Cuban, and other personalities invested in Goldin Auctions, a company known for auctioning high-end sports cards. Now, there are two more prominent stars who just joined this trend – Chris Paul and Kevin Love, who invested in Dibbs.
Exciting day here at Dibbs! Our series A funding is complete thanks to an amazing new team of investors @tuskventures, @foundrygroup, @cp3, @kevinlove, @SkyDigg4, @KrisBryant_23, @channingfrye & @DeAndreHopkins.
Check out @KimBhasin's story! 👇https://t.co/CcPr1a749L
— DIBBS (@dibbs_io) July 27, 2021
What NBA Cards fanatics need to know about Dibbs
Just recently, a venture firm called Foundry Group was joined by Tusk Ventures, Courtside Ventures, and Founder Collective to raise $13 million for Dibbs. The latter is a real-time trading platform that gives people a chance to invest in physical sports cards via nonfungible tokens, or NFTs.
Users of Dibbs’ app can also invest in high-end cards by trading a fraction of their true value. This process makes these cards more accessible to people with limited funds and gives them a way to grow their money. Moreover, interested parties can consign their cards with Dibbs to make a profit as well. The trading platform, meanwhile, generates revenue from the trading fees.
Love and Paul are part of this investment group that aims to improve Dibbs’ engineering, product development, and marketing efforts and go beyond the beta-testing level. As of now, the app has accumulated around 17,000 users.
While known on the court as one of basketball’s most talented point guards, Paul is wearing another hat by investing in Dibbs. In a statement, the All-Star said that this platform levels the playing field for fans and makes the collectibles market more accessible to them. He added that this opportunity creates new meaningful ways to connect with fans.
With more and more NBA stars investing in this kind of venture, the spotlight will shine much brighter on card collecting itself. In the end, the hobby will grow faster, thanks to these positive developments.
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