"There will be no redemption rights or liquidating distributions with respect to MUDS’ warrants, which will expire worthless. The company’s sponsor, directors and each member of MUDS’ management team have waived their redemption rights with respect to all founder shares held by them."
Topps does not lose the license until I think 2025 so they have a few more years of producing cards but long term. I think the hope would be for fanatics to buyout Topps. Might be best case scenario
I had no clue about this and didn't know that going public was off the table.
Thank you for letting me know.
I think losing the exclusive license to MLB and MLBPA in hindsight was the bigger deal. Damn. Nobody saw that coming. Not a shareholder thankfully but like to collect cards. Topps losing license is huge lose for more than just shareholders. Most folks in the hobby are ticked and shocked currently.
I think the over production should be a much bigger concern. Unlike Panini Topps is starting to flood the market and as soon as people can't flip cards to make money you will see many more leave the market.
My guess is $32ish due to the timing of the articles coming out later that day
Sorry at least 300 million i meant*
Agree. This is just the next evolution in sports memorabilia. NBA top shot seems to be killing it. I always wondered how is it that these card companies can sell a pack of cards and some lucky buyer hits a monster card that they can then resell for hundreds or thousands on the secondary market and the original creator gets 0 percent of the sale. Well not anymore with NFTs. They literally just created a whole new revenue stream for the life of every single “card” produced. Even all the tiny resells all add up to more profit. I’m in!
Andreas Halvorsen Takes Stake In Mudrick Capital
BREAKING: Topps Debuts its First @MLB Baseball Card NFT Collection With Topps Series 1 Baseball Launch!— Topps (@Topps) April 12, 2021
📰 Read more on Topps & @ToppsDigital's latest news: https://t.co/YeZZmlF4c1 pic.twitter.com/C9RmHsK9Qg
I don't think the share structure changes. It should stay where it is.
They took on Topps based in existing Bazooka and card business. If Topps hits big with MLB or other NFTs this will have huge upside. I think significant upside is there with the existing business as cards are a very hot commodity right now.
I'm not all that convinced that the sudden interest in NFTs isn't just a flash fad that is the result of that guy selling a jpeg picture for $69M. (WTF!?) But the downside risk here seems pretty low and they might actually pull this off. So why not take a shot?
Yes, this will be interesting for sure.
I like cards but NFTs is a big ? to me