Selling a stake in your Magic collection
Between this story and the one from a few weeks back about 16-year-old Kyle "Bugha" taking home $3 million after 6 rounds of Fortnite, your kid's obsession with games might be a better career choice than your finance degree.
Mythic Markets, a young, San Francisco-based fractional investing platform for fans, has raised $2 million in seed funding led by Slow Ventures, with participation from Third Kind Venture Capital, Global Founders Capital and others.
Mythic is capitalizing on the broader trend of fractional ownership that gives numerous investors a piece of the same asset. The idea dates back 50 years or so to vacation timeshares, but it has picked up momentum of late, with startups asking potential customers to buy parts of new cars, homes, art, sneakersand even virtual items.
Mythic is focusing on pop culture collectibles, starting with an Alpha Black Lotus, a trading card that only fanatics of the game “Magic the Gathering” might recognize but is apparently worth $90,000 right now.
Interestingly, Mythic only offers securities that are regulated by the U.S. Securities and Exchange Commission, which not only includes rare trading cards but also other things that Mythic plans to start selling next year, including vintage comic books, sci-fi memorabilia and, a little further afield, esports team equity.