The term “cardboard gold” has never felt more appropriate as baseball cards play a central role in the meteoric rise of Whatnot, a live-stream shopping platform that has become the largest in North America and Europe. At the heart of its success is a dynamic marketplace where a baseball card is sold every second, helping fuel $2 billion in live sales during the first nine months of 2024.
Armand Wilson, Vice President of Categories & Expansion, says Whatnot’s explosive growth is driven in large part by the passion of collectors. “Baseball as a standalone category is one of our biggest. It’s a huge part of our platform,” Wilson said. Over 500 sellers have earned more than $1 million on the platform this year alone, with many making Whatnot their full-time career.
Whatnot launched in 2019 with a focus on Funko Pops but quickly expanded into sports cards, among other categories. The platform was built to address fraud concerns in the collectibles market and to offer buyers a safer and more engaging way to shop. “The original idea was solving buyer pain in purchasing collectibles online,” Wilson explained.
Today, Whatnot is synonymous with innovation in the collectibles space. A key highlight for the platform has been its presence at “The National,” the largest annual collectibles show. By replicating the convention floor on its app, Whatnot brought together thousands of sellers and allowed buyers to connect with them in real-time. “It gave buyers a chance to see sellers live for the first time,” Wilson said.
Whatnot’s approach is redefining how collectibles are sold. Sellers on the platform report significantly higher sales volumes, with some selling twice as much as they do on other marketplaces. The platform’s 8% commission is offset by its ability to create an engaging and scalable experience for users. “We focus on our users, not competitors,” Wilson said.
The company’s growth has been staggering. With fewer than 10 employees when Wilson joined, Whatnot now employs nearly 700 people. Baseball cards, in particular, have driven its success, thanks to their enduring appeal and the platform’s ability to combine collecting with live-stream shopping. “Sports cards are a perfect product for this model,” Wilson noted.
Individual success stories highlight the power of Whatnot. Geoff Wilson, owner of Cards HQ near Atlanta, has generated $2.5 million in sales since opening his showroom and live-stream studios earlier this year. In Florida, entrepreneur Dakota Peters has turned her hobby into a thriving business on Whatnot, building a team of 30 employees and hosting over 400 live shows, each averaging $10,000 in revenue.
Trust is a cornerstone of Whatnot’s marketplace. While the platform doesn’t authenticate products directly, sellers are incentivized to maintain high standards and build relationships with their buyers. “Whatnot sellers build and maintain trust to grow,” Wilson emphasized.
Whatnot’s reach extends beyond the U.S., with hubs in Europe, Canada, and Australia. The platform’s live streams have transformed the shopping experience, with 175,000 hours broadcast weekly—far outpacing traditional shopping networks. Buyers spend an average of 80 minutes per day on the platform, drawn by fast-paced auctions and real-time interaction with sellers.
Card-breaking, where collectors divide boxes of cards into smaller packs and share the excitement of opening them, has become a standout feature of Whatnot. “It’s super exciting to watch,” Wilson said, describing it as a social and interactive way for collectors to engage with the hobby.
The platform’s success lies in its ability to blend commerce with community. Sellers personalize interactions with buyers, addressing them by name and catering to their interests. This approach has built a loyal audience spanning all age groups. “Even my dad is involved, and he’s 79,” Wilson shared.
As Whatnot continues to expand, it has revolutionized the way people collect and trade. By combining the timeless appeal of baseball cards with the energy of live-streaming, Whatnot has established itself as a game-changer in the collectibles market.