The world of trading cards has come a long way from the days of childhood trades and flicking cards against concrete playgrounds. Welcome to Whatnot, a digital platform that has taken the world of collecting by storm, offering a unique blend of live-stream shopping and the nostalgia of baseball cards.
Armand Wilson, the Vice President of Categories & Expansion at Whatnot, describes the platform as a vibrant marketplace that’s currently riding high on the renewed interest in sports card collecting. Every passing second sees a baseball card exchanging hands on this platform, a testament to the frenzy surrounding these cardboard treasures.
Whatnot initially kickstarted its journey in 2019, primarily focusing on the sale of Funko Pops but soon segued into expanding its horizons to include various categories, such as the ever-popular sports cards. Wilson sheds light on the platform’s inception, driven by a mission to alleviate the buyer woes concerning purchasing collectibles online, especially amid rampant fraudulent activities prevalent in the market at that time.
The company’s foray into the realm of sports cards has been nothing short of a triumph, with an average buyer amassing a collection of 12 items per week from the platform. Whatnot’s pivotal moment arrived with its active participation in “The National,” a colossal midsummer collectibles show. By offering a virtual replication of the convention floor within its app, Whatnot managed to gather thousands of sellers and buyers under one digital roof, establishing itself as a dynamic player in the burgeoning market.
Despite levying an 8% commission on each sale, Whatnot has consistently recorded higher sales volumes for sellers compared to other e-commerce platforms. Wilson attributes this success to the company’s unwavering focus on enhancing user experiences for both buyers and sellers, setting them apart in a fiercely competitive market.
The meteoric rise of Whatnot is further underscored by its burgeoning workforce, ballooning from fewer than 10 employees to nearly 700 in just four years. The growth trajectory has been largely bolstered by the platform’s vibrant sports card category, which has emerged as a lucrative and popular segment. Successful seller stories, such as Geoff Wilson of Cards HQ and entrepreneur Dakota Peters, further exemplify the platform’s potential in transforming hobbies into full-fledged businesses.
Fostering trust between buyers and sellers lies at the core of Whatnot’s ethos. Although the platform doesn’t directly authenticate products, sellers build credibility by maintaining high standards and promptly addressing customer concerns. This approach ensures a trustworthy environment that fuels growth and fosters long-term relationships between the community of collectors.
Headquartered in Culver City, California, Whatnot has rapidly ascended to become a global powerhouse, boasting an impressive 175,000 hours of live streams weekly—800 times more than industry giant QVC. The platform’s user engagement levels are off the charts, with buyers spending an average of 80 minutes daily tuning in to live streams and auctions.
A standout feature on Whatnot is the card-breaking practice, where participants divvy up a box of cards, unwrapping packs collectively during live sessions. The high-octane energy of these auctions, some lasting a mere minute, fosters community spirit and engagement among collectors, ensuring an adrenaline-pumping experience for all involved.
Beyond being just a marketplace, Whatnot has morphed into a social hub, offering a platform that fosters real-time interactions between sellers and buyers. The personalized engagement, catering to individual interests and preferences, has cultivated a loyal and diverse audience spanning across different age groups, encompassing both young collectors and seasoned enthusiasts alike.
As Whatnot continues its ambitious expansion plans, one thing remains crystal clear—it has redefined the landscape of collectible trading, offering a seamless blend of live-streaming excitement and the timeless allure of baseball cards. Join the revolution; explore, buy, and sell with Whatnot.