Former Yankees star Derek Jeter has entered into the world of sports collectibles in his retirement.
The 48-year-old began a trading-card platform called Arena Club along with Brian Lee, who is the former chief executive officer of Honest Co. The company, which launched on Thursday, provides card collectors with online showrooms to buy, sell and trade card collections.
Jeter’s company put a plan in place to combat scamming on the site, which often happens with collectible items. Whenever a card is entered into the system, the card will be graded and then sent to a vault owned by the company. That way, users can see proof that the card exists and not worry about being promised the wrong card or a wrong value for the card.
Additionally, this allows Arena Club to directly ship the card to the buyer.
“It’s clarity, it’s speed and it’s trust,” Jeter said, via Bloomberg. “Building a community, that’s our No. 1 goal here.”
The Arena Club will use firms such as Professional Sports Authenticator, Beckett Grading Services and Sportscard Guaranty Co. to determine the grade of each card. The final grade is based on the quality and condition of the card. The collector will also receive a thorough explanation for the grade, as the company hopes to create transparency through the process.
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