January 15, 2021

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An actor-turned-investor shelled out millions for the world’s most expensive trading card. Time to check the attic.

The $5.2M Mantle

Berk Communications

The trading card industry started off 2021 with a bang. 

An extremely rare 1952 Mickey Mantle rookie card sold for a record-setting $5.2 million, it was announced Thursday.

Venture capitalist Rob Gough bought the Mantle, which was last sold by retired NFL lineman Evan Mathis in 2018 for $2.88 million.

This particular PSA 9 1952 Topps Mantle is one of six with an authenticity grade of 9 out of 10. The three “10” cards are reportedly in “strong hands.” 

The trading card industry entered the year riding a monumental 2020: 

  • A 2009 Mike Trout rookie card sold for a then-record $3.94 million.
  • A 1979 Wayne Gretzky rookie card sold for a hockey-record $1.29 million.
  • A 2003 LeBron James rookie card sold for a basketball-record $1.8 million.
  • That record was quickly erased when a Giannis Antetokounmpo rookie card sold for $1.86 million.

Sports cards have generated lots of buzz over the past year as investors work toward further legitimizing the asset class.

Gough told Forbes the Mantle deal was “a steal.”

Another WFH Pivot

Gympass

Companies are turning to virtual fitness partnerships to offer a new form of wellness to their remote associates.

The trend has helped to boost the wounded fitness industry, which as a whole lost $7 billion in revenue as of last July, according to the International Health, Racquet & Sportsclub Association.

  • In 2019, 84% of large employers (200+ workers) offering health benefits said they also offered a workplace wellness program. Many of these programs included a gym reimbursement.
  • In July 2020, 59% of Americans said they weren’t planning to renew their gym memberships once the pandemic ended, according to TD Ameritrade, citing discovery of cheaper alternatives.
  • As of Jan. 2021, 10% of HIIT studio Fhitting Room’s revenue comes from private corporate sessions. Previously, corporate clients were only considered on a case-by-case basis.

Corporations can have their pick from a variety of virtual fitness studios, including Equinox, ClassPass and Gympass. Companies like Estee Lauder, JP Morgan and PayPal have all signed up for their own digital fitness benefits.

According to Global Market Insights, the virtual workout industry hit $5 billion in 2019 and is projected to grow to $30 billion by 2026.

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Psychedelic Brain Treatment

Chris Unger/Zuffa LLC via USA TODAY Sports

The UFC could start experimenting with psychedelic drugs.

UFC President Dana White said the organization has been in contact with Johns Hopkins University about its studies on the impact of psychedelics on fighters’ brain health.

The interest reportedly stems from an HBO “Real Sports” segment featuring former fighters discussing their treatment experiences.

Johns Hopkins is studying the therapeutic effects of microdosing psilocybin and LSD, producing more than 60 peer-reviewed research papers since its 2000 U.S. government approval.

UFC could look to become a benefactor of a psychedelic study, it told ESPN, and may approve using its own current and former athletes in the research.

Former UFC flyweight Ian McCall, who has worked with the Baltimore university on psilocybin treatment, told ESPN there’s a responsibility to take better care of athletes and other PTSD victims.

As fighters await a potential breakthrough, the UFC made its latest contribution to Las Vegas’ Cleveland Clinic Lou Ruvo Center for Brain Health, donating another $1 million this month.

Supplement Market Bulks Up

Gainful

Demand for workout supplements is growing, and companies are finding new ways to reach customers.

This week, startup Gainful — which offers personalized subscriptions for protein powder blends and hydration products — raised $7.5 million in Series A funding.

The round was co-led by BrandProject and Courtside Ventures, with participation from AF Ventures, Round13 Capital, Barrel Ventures and the founder of Polaris Sports. 

Gainful, whose subscriptions start at $39, has seen a boost in interest during the pandemic, citing a shift toward e-commerce and a new recognition of the benefits of a healthy lifestyle.

Eric Wu, chief operating officer and co-founder of Gainful, says the four-year-old company plans to continue its move beyond protein, adding more new products and flavors.

Wu and co-founder Jahaan Ansari met playing soccer in high school. “We really believe that we’ve created a system of products that all have complementary benefits,” Wu said.

The pre-workout supplement market is expected to reach $23.8 billion by 2027, according to a 2020 report from Grand View Research. Powders have the largest market share, while ready-to-drink options are projected to be the fastest-growing segment.

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Latest on FOS

Latest on FOS

Universal Music Group — home to superstars Drake, Billie Eilish, Post Malone, Ariana Grande and many more — has licensed its entire catalog to Equinox Media. The move comes after at-home fitness rival Peloton has faced accusations of using improperly licensed music.

Las Vegas Raiders owner Mark Davis is expanding his desert sports empire. He entered an agreement to purchase the WNBA’s Las Vegas Aces from MGM Resorts International; the deal is pending approval by the league’s board of governors.

The Brooklyn Nets amped up their global appeal when they acquired James Harden from the Houston Rockets in a blockbuster trade — the eight-time All-Star had the No. 3-selling NBA jersey in China in 2018. The Nets were already one of the most popular teams internationally.

Question of the Day

Do you use any workout supplements?

 Yes   No 

Thursday’s Answer:
39% of respondents have tried a non-alcoholic beer.

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