Topps, one of the world’s premier trading card manufacturers, recently announced its intention to pursue a public offering following an explosion in the digital market.
In an interview with CNBC’s Squawk Box today, Topps chair Michael Eisner said the sports and entertainment side of the business — the company also produces confections like gum — is 25% digital and growing. Eisner said the explosion of nonfungible tokens, or NFTs, on the blockchain 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.”
Topps plans to go public through the merger of a special-purpose acquisition company, or SPAC. In this case, Mudrick Capital, already listed on Nasdaq, would acquire Topps. This ould effectively bypass the traditional initial public offering route. The SPAC reportedly values Topps at $1.3 billion,