Collectibles Platform Whatnot Destined For Big Things In U.S.


In one of the most rapid success stories in the online marketplace for sports cards and other memorabilia, Whatnot recently announced that it had raised $50 million in a Series B funding round:

Whatnot, a relatively recent entrant to the online marketplace raised $20 million in its Series A round. Furthermore, the company, seven months before that, had secured $4 million in the seed round.

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Why is this important for collectors?

You might be wondering about what sets Whatnot apart from other traditional marketplaces like eBay and other similar platforms that allow people to buy and sell items like sports cards, Pokemon cards, and Funko Pops?

The primary reason why investors have been drawn to Whatnot is due to the live shopping experience the platform offers. During this, sellers host a live stream that is very similar to a live auction or the QVC cable channel:

These live shows allow people to shop side by side in a Twitch meets eBay setting.

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The growing market of sports memorabilia

Live shopping, combined with the draw of sports collectibles is expected to boom in the coming years. With a devoted audience and a significant market, Whatnot’s share in that market is expected to rocket.

The company itself expects the market for live shopping is going to be led by sports collectibles. Sticking to this prediction, despite the company focused almost exclusively on buying and selling Funko Pops in 2020, it is rapidly expanding its offerings to sports cards and Pokemon cards.

The owners revealed that Whatnot sells millions of dollars worth of sports cards every month, and this has become their most popular category in 2021. But how does the system work? Well, the company takes an eight percent cut of sellers’ sales, which averages to around $40 per item. Items sell for between $1 and $20,000.

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The live shopping potential

A special mention must be made of the so-called card breaks that customers are especially drawn to. In card breaks, people buy a box of sports cards that may contain several packs. Once people purchase the card break pack, the sellers will open them and allow others to see which cards people have bought.

This is all part of the the thrill of live shopping:

In China, the live online shopping market is worth $170 billion. In contrast, the U.S. live shopping market is only worth $1 billion. This gives a fair indication of the incredible potential growth that awaits Whatnot and other similar companies moving towards the live shopping market.

With the proceeds of the Series B round, Whatnot plans to invest in their sports memorabilia category, including jerseys, autographs, game tickets, and helmets.

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Reasons to follow

  1. What is Nerdable?
  2. Are the writers’ experts?
  3. What is an authority on?
  4. Why is trustworthy?

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Q. What is Nerdable?

Have you ever found yourself engrossed in a subject that’s not commonly discussed in reality TV, daytime fiction, or across TMZ style websites? If so, might be for you.

Across this site, you’ll find collectibles, facts, technology, merchandise, and more that people get passionate about daily but hide from their friends and family. This is the place where you can be proud of your nerdiness.

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Q. Are the writers’ experts?

The world of Nerdable is broad, from vintage watches to AR glasses. It is impossible for one person to be an expert on everything. However, the writers are enthusiasts regarding what they cover. So if you see an article, you know that they’re interested in the subject.

For instance, one of the writers actively collects retro movie posters, Star Wars action figures, and is a huge quizzer, which requires lots of research into historical facts. If the adage is 10,000 hours makes an expert, then all our writers have committed more than that into their Nerdable pursuits (yet none class themselves as experts).

Q. What is an authority on?

Buying and selling collectibles, auctions, grading, technology, retro-bargain hunting, and all things nerdy. They’re also passionate fact-finders and data junkies. All of which leads to this eclectic website.

Q. Why is trustworthy?

Don’t worry, isn’t asking you to buy anything, so your money is safe. However, the website does praise, critique, and analyze items. Please know opinion is either personal or balanced against sources the writer’s trust and reference.

The site also presents facts based on the information researched. These facts are only as good as the sources used and the writers aren’t too proud or pig-headed to consider themselves infallible. They are enthusiasts, continually learning, and adapting to the topics they are an authority on or aiming to be.

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