The trading cards and collectibles leader will begin allowing buyers and consignors to use Bitcoin and Ethereum.
In 2020, Goldin Auctions generated upwards of $100 million in trading card and memorabilia sales. This year promises much, much more — and following some big blockchain-powered news announced Tuesday morning, the final sum won’t be tallied in just dollars alone.
In partnership with cryptocurrency exchange Gemini, Goldin Auctions will begin enabling buyers and consignors to complete their transactions using Bitcoin and Ethereum.
It’s the first such collaboration in the ever-burgeoning memorabilia industry, and the key players aren’t hesitating to celebrate the momentous nature of the occasion.
“We’re incredibly excited about our partnership with Gemini, as we see significant overlap between the crypto community and the hobby,” said Goldin Auctions CEO Ross Hoffman in an official company release. “This is especially true for new collectors who view collectibles as a key piece of their portfolio.”
“You’re also seeing this merger of sports and crypto in the NFT world, where innovative players and leagues are doing really interesting things. We see big opportunities in the future, including combining physical memorabilia with digital assets in creative ways,” he said.
This is the latest step forward in Goldin’s path to investing further in technology platforms that help collectors manage their cards and memorabilia with the visibility and liquidity of an investment portfolio.
“We are excited to team up with Goldin Auctions and help them facilitate crypto payments for collectors and sellers on their platform,” said Gemini CEO Tyler Winklevoss. “Accepting crypto will give Goldin’s customers more flexibility and options to purchase and sell memorabilia.”
We’re just one quarter of the way through 2021, but it’s already feeling like a whole new ballgame at Goldin Auctions. Today’s news is further evidence that blockchain technology is here to stay, and the benefits for collectibles investors are coming into even sharper focus.