The phrase “cardboard gold” has never felt more apt, thanks to the surge in the popularity of baseball cards that has propelled Whatnot, the largest live-stream shopping network in North America and Europe, to incredible heights. Armand Wilson, Vice President of Categories & Expansion at Whatnot, attributes the platform’s success to the revival of sports card collecting, with a card being sold every second.
Wilson highlighted the significance of baseball cards on the platform, citing it as one of the biggest standalone categories on Whatnot. The enthusiasm for sports cards has been a driving force behind the $2 billion in live sales generated by sellers on the platform in just the first nine months of 2024. Over 500 sellers have earned more than $1 million, with some even transitioning to full-time commitments on Whatnot.
Established in 2019 with a focus on Funko Pops, Whatnot has since broadened its horizons to include various categories, including sports cards. Wilson explained that the initial concept was aimed at addressing buyer struggles in the online collectibles market, particularly combating fraudulent activities. The seamless integration of cards into the platform has been well-received, with the average buyer collecting 12 items weekly.
An instrumental moment for the company was its involvement in “The National,” a colossal midsummer collectibles show. Whatnot replicated the convention atmosphere within its app, enabling thousands of sellers to showcase their merchandise live. This innovative approach facilitated dynamic interactions between buyers and sellers, solidifying Whatnot’s standing in the market. Wilson emphasized the impact of gathering sellers to exhibit the app’s capabilities.
While the platform charges an 8% commission on sales, sellers have reported significantly higher sales volumes as compared to other marketplaces. Wilson attributes this success to Whatnot’s emphasis on enhancing the user experience for both buyers and sellers. By prioritizing user satisfaction, the platform aims to deliver a superlative experience while focusing solely on its users, rather than competitors.
The extraordinary growth trajectory of Whatnot is evident in its evolution from fewer than 10 employees to nearly 700 within four years. Baseball cards have played a pivotal role in propelling this growth, with Wilson describing sports cards as an ideal fusion of cards and online shopping, presenting a perfect product for the platform.
The success stories of sellers further illustrate Whatnot’s potential impact. Geoff Wilson of Cards HQ near Atlanta has achieved $2.5 million in sales since opening his expansive showroom and studio. Similarly, Dakota Peters in Boca Raton transformed her Instagram hobby into a full-fledged business on Whatnot, employing 30 individuals and hosting over 400 live shows with an average revenue of $10,000 per show.
Trust is paramount for Whatnot, with an emphasis on fostering trust between buyers and sellers. While the platform doesn’t directly authenticate products, sellers cultivate their reputations through upholding high standards and promptly addressing customer queries. Wilson highlighted the pivotal role of trust in driving growth for Whatnot sellers.
Headquartered in Culver City, California, with hubs across North America and Europe, Whatnot has rapidly established itself as a global powerhouse. The platform hosts 175,000 hours of live streams weekly—800 times more than QVC—leading to sellers achieving nine times more sales than on other platforms. Buyers also spend an average of 80 minutes daily watching live streams, showcasing the platform’s engaging appeal.
One of the standout features on Whatnot is card-breaking, a practice that involves a group splitting a box of cards and opening packs collaboratively. This feature has gained immense popularity for its excitement and community-building aspects among collectors. The swift-paced auctions, some lasting just a minute, create a thrilling environment that entices users to participate continuously.
For many collectors, Whatnot transcends being a mere marketplace—it has become a social and interactive experience. Sellers actively engage with buyers in real-time, personalizing interactions by using their names and catering to their preferences. This personalized touch has fostered a loyal following spanning diverse age groups, from young collectors in their 20s to seasoned enthusiasts in their 70s.
As Whatnot expands its global presence, its impact on reshaping the collectibles market is discernible. By amalgamating the allure of live-streaming with the enduring charm of baseball cards, Whatnot has cemented its position as a frontrunner in the burgeoning collectibles industry.