Los Angeles, California Apr 27, 2021 (Issuewire.com) – On April 20, 2021, Topps released their first-ever NFT (Non-fungible token). This is a new avenue for the 80+year-old company. Topps enters the NFT space to further enhance its presence in the digital marketplace.
The Topps® MLB NFT Collection celebrates 70 years of Topps Baseball, showcasing modern-day stars in new and classic Topps® card designs. Collectors can find their favorite players reimagined as digitally enhanced, officially licensed Topps MLB NFT collectibles – ushering in a new age of baseball card collecting.
The first series of NFTs sold out within 2 hours. 75,000 packs priced at $99.99 and $4.99 were sold. The NFTs are now traded on an online marketplace found here: https://toppsmlb.com
Topps plans to go public through the merger of a special-purpose acquisition company, or SPAC. In this case, Mudrick Capital, which is already listed on Nasdaq under the symbol MUDS. The SPAC reportedly values Topps at $1.3 billion, with the deal expected to be finalized this year.
In an interview with CNBC’s Squawk Box, Topps chairman Michael Eisner said the sports and entertainment side of the business has seen explosive growth on the digital side. For the past two years, year-over-year revenue growth was over 20%. Eisner said the explosion of nonfungible tokens, or NFTs, on blockchains, will “likely appeal to everybody” as the firm goes public.
“The digital [side of the business] is growing really fast,” said Eisner, “With blockchain, we’re going to be able to participate in the secondary market. Before, we only participated when we put the analog cards out. This is the icing on the cake — going digital completely, with the analog still in place.”
Eisner, the former CEO of The Walt Disney Company, purchased Topps through his investment firm and Madison Dearborn Partners in October 2007. The Topps chairman said he bought the company “with the goal of making it digital.”
Founded in 1938, The Topps Company, Inc. is a global consumer products company. Topps Physical Sports & Entertainment products include Major League Baseball, Major League Soccer, UEFA Champions League, Bundesliga, National Hockey League, Formula 1, Star Wars, WWE, Wacky Packages®, Garbage Pail Kids®, Mars Attacks® and more. Topps Digital Sports & Entertainment has connected with people around the world who have downloaded our apps including Topps® BUNT®, TOPPS® KICK®, Star Wars: Card Trader by Topps®, Topps® WWE SLAM, Topps® NHL SKATE, Marvel Collect! by Topps® and Disney Collect! by Topps®. Topps Digital Services is a leading processor, distributor, and program manager of prepaid gift cards and provider of cloud-based financial services and white label e-gift solutions for widely recognized digital businesses that include Airbnb, Deliveroo, DoorDash, Hulu, Instacart, Netflix, Nike, Twitch, and Uber. Topps Confections, Bazooka Candy Brands, produces, markets and distributes confections brands including Ring Pop®, Push Pop®, Baby Bottle Pop®, Juicy Drop®, Finders Keepers®, and Bazooka® bubble gum. For additional information visit Topps.com.
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