Amazon Backs WAX Blockchain Collectibles Platform Dibbs

Time:2021-12-26 Source: 1135 views Policy Copy share

Amazon is the biggest retailer in the world that isn’t in China, and has by and large built a business centered around unbelievably impressive logistics. While there are a number of the biggest companies that have gotten engaged with crypto in some sort of capacity, the top-of-mind firms are often Elon Musk’s Tesla, Michael Saylor’s MicroStrategy, or Jack Dorsey’s Block (formerly Square). Even Shopify has expressed desire to integrate NFT support on the platform.

Could Amazon get their name in the hat?

Amazon: We Got “Dibbs”
According to reports within the past week, the powerhouse ecommerce firm has invested in fractional sports trading card marketplace Dibbs. Dibbs is powered by the WAX blockchain, one that seemingly continues to have it’s name alongside trading cards and crypto. A prime example of this is Topps collaboration with Major League Baseball, which is powered by WAX.

Other top tier IP has been implemented on WAX as well, including the recent AMC and Sony collaboration to release Spider-Man NFTs for the release of the latest in the legacy Marvel property.

Dibbs simply tokenizes trading cards and offers a 24/7 fractional trading market for supported collectibles. Dibbs holds the assets with a third-party and insures assets for their aggregate value. The platform drives revenue by implementing a small (0.5% to 5%) transaction fee.

Frequently Fractional
Fractional investing across all sorts of investments – from stocks to real estate, and even legacy NFTs like CryptoPunks – is becoming increasingly popular. The concept is ripe for providing institutional-level investments to the everyday retail investor – a fitting gap for blockchain technology to fill (and as exemplified recently by numerous amounts of DAOs).

Amazon’s investment in Dibbs reflects the growth of this market as the space grows in competition. The move is particularly telling, given that Amazon has not spent much money in this space to date. Historically, the firm has invested quite a bit into content delivery, a la Twitch or Audible. The growing collectible market, and blockchain’s impact within that, looks to be making enough noise to change that.

The crossover between crypto and trading cards and fractional investments shows immense potential. Sure, there’s clear-cut use cases, like digital trading card NFTs spurred by the likes of the aforementioned Topps and MLB collaboration, Dapper Labs’ NBA TopShot, and more. However, platform’s like Otis and Rally have offered fractional investing for legacy NFTs like CryptoPunks and Meebits.

Financial details of Amazon’s investment have not been disclosed. Dibbs previously raised $16M in Series A funding earlier in the year.

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