diving letter:
- eBay supports another platform hoping to attract sports and NFT enthusiasts. The company has entered into a strategic partnership with Notable Live, a digital experience platform. according to a press release on Tuesday. EBay Ventures, the e-commerce giant’s venture capital fund, made an undisclosed investment in Notable Live in a Series A round.
- As part of the collaboration, Notable Live will also bring non-fungible tokens, exclusive athlete merchandise and other experiences to eBay, the company said.
- Both companies have teamed up to create the Inside the Game series, where customers can access items worn during games by players like Ray Lewis and others, access digital artwork available only to eBay’s customer base be available, or participate in other live experiences.
Dive insight:
Ebay is diving deeper into the digital and physical collectibles business. For the e-commerce company, the partnership with Notable Live offers the retail platform the opportunity to combine live experiences with shopping collectibles, the company says.
“Fans and collectors turn to eBay to celebrate their favorite players and teams, knowing they can find authentic, one-of-a-kind memorabilia that connect them to the history and future of the sport,” Dawn Block, Vice President of Collectibles on eBay said in a statement. “Our partnership with Notable Live further enhances the market-leading experiences we’ve built for our community of sports fans, collectors and investors, enabling them to engage with living legends in new and meaningful ways.”
Ebay has expanded its offering for sports fans in recent years. About a year ago, the e-commerce company launched its authenticity guarantee program for trading cards. As part of the initiative, the company will initially authenticate cards that sell for $750 or more in the United States, but plans to offer the service for graded, autographed, and patch cards that sell for $250 or more according to a company press release.
The e-commerce giant has also made key acquisitions to grow its digital collectibles business. Last June, the company bought KnownOrigin, an NFT marketplace where artists and collectors can buy, craft, and sell NFTs for an undisclosed sum. Later that summer, the company agreed to buy TCGplayera collectibles company, for about $295 million in a deal expected to close later this year.
