The new trading card and NFT platform announced nearly $3 million in seed funding this week.
Dibbs, the first-ever sports trading card marketplace that allows investors to trade fractional ownership stakes in cards in real time, announced Tuesday that it has secured $2.8 million in seed financing. The funding round was led by Courtside Ventures, Sport Card Investor, Founder Collective, and JD Sports among other notable angel investors.
The Dibbs marketplace, which is presently in its beta phase, aims to change the card-trading game with an experience that joins sports fandom and the collectibles hobby together with fractional investing, non-fungible tokens, and blockchain technology.
Dibbs’ unique approach allows collectors to buy and sell physical cards seamlessly while also enabling trades of fractional interests in rare cards — specifically conducted in via NFTs — on the first 24/7 live market of its kind.
Through this fractional ownership model, collectors can instantly trade any amount of interest in a specific card in real time while avoiding traditionally high auction fees and processing times. Dibbs currently offers some of the most sought-after sports trading cards in the world for fractional investment, including PSA 10 rookie cards featuring superstars like LeBron James, Patrick Mahomes, Mike Trout, and Tom Brady.
“Sports cards continue to shatter growth records, despite the market being slowed by archaic technology, cumbersome processes, and extremely high costs,” Dibbs co-founder and CEO Evan Vandenberg said in an official company release. “Dibbs represents a new era of collecting by democratizing the collectible market, increasing transparency for buyers and sellers, and eliminating the high-cost barriers to entry.”
“[Dibbs] allows collectors to curate a diverse roster of premium sports cards and take advantage of a constantly changing market that is largely dependent on a player’s in-game performance and off-court brand,” said Christopher Leach, the company’s head of marketing. “It’s the best parts of fantasy sports and card trading combined.”
The Dibbs public beta is available for download now for iOS on the Apple App Store, but presently requires and invite code to access the app, which has built up a waiting list of over 30,000 individuals as of this writing. New users are being added daily, and the platform will soon be available on the web and for Android.