Otis

Own a piece of culture.

#4 Product of the DayJuly 09, 2019
Invest in contemporary art, sneakers, and collectibles for as little as $25. We're democratizing access and creating a new asset class around culture.
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I'm so excited to see investing democratize on the basis of: what people can invest in, and who can invest. Both of those things are empowering. Plus, these assets are cool af. Happy investor here.
Awesome to see this live. I've been following the fractional ownership space, curious to see which other verticals people pursue. Two examples: Rally Rd. is doing it for high-end cars (and soon other categories). Mythic Markets is focused on Magic Cards (and later fandom collectibles). The big question people have about this space: "Will mainstream consumers want to invest tiny amounts into valuable assets?" Curious to hear your thoughts and learnings on this, @mikekarnj, and everyone else.
Yes. I'm bullish on fractional ownership.
I'm not sure if the mainstream will care.
No way. Fractional ownership will remain niche.
Upvote (7)Share112 Answers
@rrhoover I'm very bullish on fractional ownership! Every generation has an asset class and we believe ours is culture. It’s about loving and understanding what you invest in, and investing in what you love and understand. Ask any sneakerhead about Jordan 1 OG Bred's, or any art enthusiast about Basquiat, and they'll be able to tell you everything. Only thing that locked them out is access. We hope to change that and give everyone an opportunity to participate in this kind of ownership.
@mikekarnj @rrhoover Economists like Thomas Picketty have written about how wealth grows fastest when one owns assets. With flat wage growth and inflation creeping up in ways that are often hard to discern, fractional ownership could be one of the only ways folks with disposable income can diversify their portfolio and obtain assets. I'm really excited to see what else happens in this space!
@mikekarnj @rrhoover Very bullish. These type of business are pushing a revolution in personal finance. I've seen this done with expensive real estate property in NYC. I think if the story of a "new era of personal finance" is told and spread in the right way then mainstream adoption will happen. Stories shape popular opinion *far* more effectively than actual facts. "Stories are a high level language for programming people." - Naval
@rrhoover @mikekarnj Congrats Mike! Great to see that you've launched. Will be excited to see where you go.
Otis is awesome! Great launch
Congrats on the launch team! Been following for a while -- excited to invest in something soon via the platform.
As someone who has been a early user of @onrallyrd for a while i think the jury is still out. Here are my stats on Rally Rd - 9 investments for the last year. Total return 4.8% - 6/9 assets have not budge a cent - 1 a slight loss. So the big question is my mind is how liquid will these markets be and how long of a time horizon do you need. Tougher sell while the markets and crypto are doing well. But always been a big fan of diversification. @rrhoover theres also @masterworksio. Would love to hear @mikekarnj's perspective on this and looking forward to trying this out.
@arjunram good example. A related question is: What's the value prop of these companies? Is it for $ returns? Fandom/pride in owning a piece of something you care about? To support the creator?
@rrhoover In my case its diversification and access to assets that wouldn't normally be able to own like a Lamborghini. I support creators on @Kickstarter already so I would assume 1 & 2 in addition to my first line above. Hope that helps.