I'm Officially Concerned About Collectable
Between the horrendous Tiger Putter auction result, the radio silence, and the poor index performance of the assets on the platform - it looks like the fork might be in this one already.
Before I get into this, I want to make it clear this is not sour grapes in any way. Yes, I’m irritated that the company auctioned off the Tiger Woods putter, my largest alternative investment, at a 66% discount to what in-app investors were valuing it at. But that’s done and over with.
I have had an affinity for the Collectable app for over two years now. I even interviewed former Collectable CEO Ezra Levine for my old podcast project The Trend is Your Friend. Some of you might remember that show, but for a few of you it might not be something you’re familiar with.
Okay, I swear I’m done shilling my podcasts for the day.
When I exited the Shattered Backboard Jordan sneakers on Public in December it was my intention to do all of my sports memorabilia buying through Collectable going forward. I actually have several assets on watch that I was considering for the Tiger putter fund distribution. I have since reconsidered that and am even attempting to wind down my remaining investment exposure through that app. I’m not convinced I’m going to get it out any time soon. Here’s why:
We are now over a week since the Tiger auction closed and I wouldn’t even know it if I wasn’t paying attention myself. I haven’t received an email from Collectable stating the asset has a new owner. In fact, the asset is still listed (but not trading) in the app with the pre-auction valuation.
Collectable still hasn’t tweeted anything since April 6th - two full weeks without any communication from the company about that auction. It actually looks like the company has gone entirely silent on all social channels from what I can tell.
The company’s podcast hasn’t been active in a month. Their Discord invite link is now invalid. There is just one active listing on their eBay store.
Oh and the big one… did you notice at the beginning of this post I said “former Collectable CEO Ezra Levine? On April 7th Levine announced his departure from the company via Twitter. On April 12th, he sort of announced a new gig. I learned all this today when I went looking for answers because I wasn’t following him directly.
If this was a crypto project and not a “real company” the community would already be calling this a rug pull. Very discouraging.
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