According to reports, e-commerce giant Amazon recently invested in a fractional sports trading card marketplace called Dibbs. The platform, which is based on the Wax blockchain, enables users to buy and sell fractions of trading cards. The financial terms of Amazon’s support for Dibbs were reportedly not disclosed.
Reports show that Amazon has stepped into the digital collectibles space
Non-fungible token (NFT) assets and digital collectibles have picked up a lot of steam in 2021 and it seems everyone wants a piece of the billion dollar industry. It was only recently announced that the online marketplace Amazon had invested in the Dibbs trading card platform. “We’re excited to announce that Amazon has invested in the collectibles space [Dibbs.io]“, Tweeted the official Twitter account of the wax blockchain on December 8th. “[Dibbs] is a real-time fractional map market using Wax vIRL NFT technology. “
Dibbs was founded in 2020 and the platform allows members to list trading cards and mint them in NFTs, then the NFTs can also be fractionated. Although Amazon’s investment was not disclosed, the startup raised $ 16 million in a Series A funding round in July. Serie A Dibb investors included athletes like Chris Paul, Channing Frye, DeAndre Hopkins, Kevin Love, Kris Bryant, and Skylar Diggins-Smith. In addition, the Serie A was also supported by Foundry Group and Tusk Venture Partners in July.
The company has officially launched a marketplace called “Sell with Dibbs,” which allows owners to sell their collectibles and also rate and fractionate pieces. Dibbs founder and CEO Evan Vandenberg explains that NFTs and digital collectibles are making the collectors market in general more accessible. “The market for collectibles has been riddled with entry barriers for too long, making it inaccessible and unjust,” Vandenberg said in a statement last week. The Dibbs manager added:
Traditional ownership has limitations that the emerging metaverse removes. Moving those collectibles that truly represent a person’s online personality into the digital domain is vital to the future of property and identity.
Dibbs Eyes Other types of digital collectibles, fractional collectibles are going to be a big deal in 2021
The Dibbs CEO also noted that cards aren’t the only focus his startup is focusing on, and the company is considering other avenues as well. “Cards are one thing we do, but it’s one thing,” Vandenberg noted. “It can be so much bigger than maps.” Alongside the Dibbs concept, the fractionalization of NFTs has become a significant trend that is growing exponentially. Blockchain projects advancing with fractional NFTs include platforms like Otis, Unicly, Fractional, and Daofi.
Cryptopunk collectibles have also been fractionated alongside the famous Doge NFT. Last week, the Ross Ulbricht Genesis NFT Collection raised over $ 6 million at auction and the collection is being broken into pieces and shared among members of a decentralized autonomous organization (DAO).
What do you think of Amazon allegedly investing in the fractional NFT trading card platform based on the wax blockchain called Dibbs? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Dibbs, Amazon,
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