🎎 Fractional Buys of Culture-Issue #6
Jordans, Supreme, & Kaws Paintings
“Earlier this week I purchased 1% of a collection of five 1985 Nike Air Jordan sneakers” - Fred Wilson.
What’s good, NahRabbit Fam! 🐰
We hope everyone is enjoying their day. It’s been a second since the crew checked in. We have been planning our next move toward the vision of the newsletter, which is our branding. More updates for you all shortly this week!
In the meantime, we were able to put together a high-level glimpse of an upcoming trend we see popping off soon. VC billionaire, Fred Wilson, dropped a big ass breadcrumb 🍞on twitter that may become "that thing" soon.
To us, that thing is undeniable.
That thing: buying fractional shares of streetwear culture as an asset.
A venture capitalist’s fractional buy of Jordans as a long term investment.
Cool Shits on thy internetzzzzzzz!!
Issue 6 was composed to the talented Mr. Trackademicks “ Ramada 86”track off of his new EP “Jacuzzi Dreams”🔥
Jordans, Supreme, & Kaws Paintings (buy Fractional amounts of Culture)
So what did Fred Wilson buy exactly?
He bought a piece of very valuable sneaker culture. 1% of 5 pairs of Air Jordan from year 85' (yup, the OG breds from 85’). Per Fred, he paid $330 for ten shares (out of a total of 1000 shares) implying a value of $33,000 for the five pairs, or roughly $6600 each.
Take a look at the twitter exchange between him and an older Jordan head.
Patrick replies back with a nostalgic tweet about how hard he used to grind for a pair of J’s back in 1985. Nowadays, many are grinding for a pair of Off-White Nikes by Mr. Abloh.
Crazy gains would have been made had he held.
Where did he buy the Js?
He bought his small share of Jordan’s from a company called OTIS.
This was Fred’s 9th purchase from Otis for an alternative asset- FYI 👀
“ 1% of a Supreme Kate Moss Tee, Sold!”
TLDR:
Otis is a marketplace that lets folks invest in alternative assets. They buy high-quality cultural assets (art & collectibles) from Sneaker Collectors to break them into smaller shares and offer them as equity investments.
They provide compliance and liquidity to collectors and sellers.
Hold assets for a period of 5-10 years on average.
The assets are stored in secure facilities and ensured.
More info on OTIS, here.
This is interesting because Otis is offering anyone the ability to buy fractional shares of highly coveted community assets such as Supreme and Kaw’s paintings. The opportunity is lucrative if you can #HODL just like Bitcoin, Stocks, etc.
“The idea of breaking up collectibles into small interests and creating/making a market in them is a very interesting idea. It allows people who appreciate these items and understand their value, to participate in the appreciation without having to be super-wealthy”. - Fred Wilson
Otis has a Tondo painting 🖌️up for grabs, right now.
Interesting :
If you would have bought a Kaws painting back in ‘09 = 39,169% increase of value in price over 10 years!
See Chart:
As a group (NahRabbits included) that is an active member of the sneaker collecting community, we are mad excited about Otis' potential. It's clear by using Otis that an 18-year-old inner-city sneaker seller or random buyer can benefit significantly if massive amounts of cash are flowing into the streetwear assets (sneakers, collectibles, art, etc.) because it's deemed as a long term investment.
What is even more exciting is that an Air Jordan sneaker or a Supreme Kermit Tee could be viewed as an uncorrelated asset to traditional financial markets. 🤯
Diddy’s mentor Ray Dialo states
“For an ideal return on ya money, investors should find 15-20 good, uncorrelated return streams, as that will allow for the most return on investment while cutting risk”.
Question:
Did Fred Wilson take a long position on Air Jordans to hedge himself from a possible stock market risk? Probably not. lol.
However, the thought of being able to hedge oneself from market risk with streetwear assets is friggin crazy.
#LongTesla and now #LongJordan #LongKaws 🤑
A.I. is starting to seep into the music you slap, and y’know what, why not embrace it? Who knows, maybe our robot overlords will appreciate us embracing their *bleep🤖blorp* culture. ¯\_(ツ)_/¯
Nuke your hooch in 2020. Thank us later if you’re not too faded. 🍻
Maybe don’t put Harriet Tubman on your bank’s debit card doing the “Wakanda Forever” salute. It’s called Black History Month, not Tone-deaf February ya fiat-money nincompoops. 🤦🏾♂️
4. You can’t meme your way into the White House, but if you’ve got the big bucks 💸like El Bloombito, you’re free to try, I guess.
Let’s stan a queen 👑one time! Friday was the late, great Nina Simone’s birthday. To celebrate, you should keep this same BDE energy in everything you do. Pow! Pow! Pow!
🔊Cool Shits inspo: Channel Tres - Black Moses 🕶️
End.
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-NahRabbits ❤️