Catena Media continues to diversify its portfolio, with its new VC arm now moving to invest in Collectbase Inc., the parent company of Repackz. The company describes itself as a digital gaming entity that is based on physical trading cards, and part of a new vertical called “rips.”
This early adoption signals that the company, which has suffered operational setbacks from changing algorithms and marketing in traditional iGaming, is seeking alternative revenue sources, with rips as one opportunity, though far from the success of prediction market or sweepstakes online casinos so far.
The investment includes Collectibles.com, which is touted as a leading community where consumers may organize, manage, value, and share their collections to potentially trade or sell. The partnership will see Catena Media introduce Repackz to its partner operators and publishers, with the company welcoming the investment.
Commenting on this new move and the opportunity therein, Catena CEO Manuel Stan had this to add: “This investment is a further step in diversifying our revenue streams. Repackz has built a proven product that leading operators are already taking live, and we see a significant opportunity in bringing it to many more. Through Catena Growth Ventures, we contribute capital, operator relationships, and distribution.”
The sentiment has been shared by Collectbase co-founder and chief business & strategy officer, Dietrich von Behren, who said that “pack-ripping” is one of the most exciting categories in collectibles.
“We built Repackz so operators and brands can quickly and easily offer their audiences real, graded collectibles under their own name, with sourcing, vaulting and fulfilment handled for them,” von Behren added. The executive added that Catena Media’s own expertise was undoubtedly going to contribute to the company’s further growth.