Ahhh… this episode takes me back. It takes me back to my childhood years in Hooksett, New Hampshire, hanging out with my buddies in the neighborhood trading baseball cards. I was a Red Sox fan and would collect cards of Jim Rice, Carl Yastremski, Dwight Evans, and lots of other Boston greats. I also collected baseball cards and memorabilia for Steve Garvey, the first baseman for the Los Angeles Dodgers. I have a cousin who lives in LA, so that was the connection there.
It was fun and all of my friends thought our treasures would appreciate in value and we would be set for life! Yet, the baseball card industry hit rough times, as the market ended up being flooded with cards that ultimately become worthless. I’m sure my friends who bought complete sets every year were crushed.
Well, what’s old is new again and trading cards are hot! This time the card issuers are much smarter in their releases by having a scarce supply to drive up demand. It’s very similar to what the sneaker industry has experienced.
To capitalize on this trend, StarStock has built a marketplace that essentially operates like a stock market for sports cards. Fans and card hobbyists can buy, sell, and invest in their favorite athletes while the sports cards are stored in a centralized vault, so there is no actual exchange of the cards. The company recently announced its $8M Series A round of funding led by Andreessen Horowitz.
In this episode of our podcast, we cover:
- A deep discussion on the sports trading cards industry and how it has come full circle.
- Scott’s background story including his entrepreneurial roots and building a company with his sister, Lynn, a recent Forbes Next 1000 recipient.
- What led him down the path of starting StarStock and working with Nigel Eccles, a Co-Founder of FanDuel, who helped get the company started along with StarStock Co-Founder Mike Kuchera.
- All the details on StarStock and how the business works.
- The challenges of building a two-sided marketplace.
- And so much more.