Amazon enters collectibles business to compete with eBay

Amazon is entering the collectibles business, competing with eBay.

According to foreign media reports, Amazon recently invested in Dibbs, a sports collectibles trading platform founded in 2020. This investment marks Amazon's first foray into the sports collectibles field .

However, neither Amazon nor Dibbs disclosed the investment amount, but Dibbs received $16 million in Series A funding in July this year. At the same time as Dibbs announced the investment from Amazon, it also announced the launch of the "Sell With Dibbs" feature.

According to the introduction, this feature uses NFT (non-fungible token) technology to divide the ownership of a collection among multiple users. The launch of "Sell With Dibbs" allows the owner of the collection to trade part of the ownership of the collection and obtain funds while retaining part of the ownership of the collection.

Users can place their collections on the Dibbs platform for trading. During this period, users need to hand over their collections to Dibbs for safekeeping, and Dibbs will also provide insurance for them. Users can sell the ownership of the collection all at once, or sell part of the ownership of the collection, similar to the stock market. The owner of the collection has full control over the sales price and ownership ratio, and Dibbs will receive a 2.9% handling fee for each transaction completed by the seller.

Through "Sell With Dibbs", on the one hand, others can get a share of the collection . On the other hand, sellers can make a profit from their collection . If anyone obtains 100% ownership of the collection , they can ask Dibbs to mail the collection to them .

Previously, PWCC (PricewaterhouseCoopers), a major seller on eBay, had also launched a managed transaction service. However, PWCC only allowed collectibles to be sold once and did not support the sale of partial ownership. Before this, collectibles trading was not an area of ​​concern for Amazon. Its e-commerce competitor eBay was a long-term leader in this field, but this time, Amazon was ahead of eBay.

Amazon has been making frequent moves this year, constantly entering new areas, opening offline stores, and entering the collectibles market. Amazon's financial reports and related data show that Amazon's market growth has slowed down, which may be one of the reasons why Amazon continues to "break the circle".

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