The phrase "cardboard gold" has never felt more accurate, as the rise of baseball cards has helped propel Whatnot, the largest live-stream shopping network in North America and Europe, to unprecedented success. Armand Wilson, Vice President of Categories & Expansion at Whatnot, says the platform is thriving on the resurgence of sports card collecting, with a card sold every second on the site.
“Baseball as a standalone category is one of our biggest. It’s a huge part of our platform,” Wilson shared. In just the first nine months of 2024, sellers on Whatnot generated $2 billion in live sales, with over 500 of them earning more than $1 million. Some sellers have even left their traditional jobs to commit full-time to the platform.
Whatnot started in 2019, focusing on Funko Pops, before expanding into other categories, including sports cards. “The original idea was solving buyer pain in purchasing collectibles online,” Wilson explained, noting the rampant fraud in the market before Whatnot’s creation. The company’s expansion into cards has been a natural fit, and Wilson said the average buyer collects 12 items per week.
A major turning point for the company has been its participation in "The National," the massive midsummer collectibles show. Whatnot replicated the convention floor on its app, bringing in thousands of sellers to showcase their inventory live. This innovation allowed buyers to connect with sellers in a dynamic way, further solidifying Whatnot’s position in the market. “By getting a bunch of our sellers together, we showed off the power of our app,” Wilson said.
The platform charges an 8% commission on every sale, but sellers report significantly higher sales volumes compared to other marketplaces. According to Wilson, sellers on Whatnot sell twice as much as they do elsewhere. This success comes from Whatnot’s focus on enhancing the user experience for both buyers and sellers. “We try to provide a really great experience,” Wilson explained. “We don’t think about competitors. We focus on our users.”
Whatnot’s growth has been staggering. When Wilson joined the company four years ago, it had fewer than 10 employees. Today, there are nearly 700. Baseball cards, in particular, have played a significant role in driving that growth. “Sports cards – a combination of cards and online shopping – are a perfect product,” Wilson said.
The stories of successful sellers underscore the platform's potential. Geoff Wilson, who operates Cards HQ near Atlanta, has generated $2.5 million in sales since opening his 14,000-square-foot showroom and studio earlier this year. In Boca Raton, 25-year-old entrepreneur Dakota Peters transformed her Instagram-based hobby into a full-time business on Whatnot. Peters now has 30 employees and has hosted over 400 live shows, each generating an average of $10,000.
Whatnot places a high priority on trust between buyers and sellers. While the platform doesn’t authenticate products directly, sellers build their reputations by maintaining high standards and addressing customer concerns promptly. “Whatnot sellers build and maintain trust to grow,” Wilson said.
With headquarters in Culver City, California, and hubs across North America and Europe, Whatnot has quickly become a global powerhouse. It hosts 175,000 hours of live streams weekly—800 times more than QVC—and sees sellers achieve nine times more sales than on other marketplaces. Buyers also spend an average of 80 minutes daily watching live streams.
Card-breaking, the practice of dividing a box of cards among a group and opening packs together, has become one of Whatnot’s most popular features. “It’s super exciting to watch,” Wilson said, noting how it fosters community and engagement among collectors. The fast-paced nature of the auctions, with some lasting just a minute, keeps users coming back for more.
For many collectors, Whatnot has become more than a marketplace—it’s a social and interactive experience. Sellers frequently engage with buyers in real-time, addressing them by name and catering to their interests. This personal touch has helped Whatnot build a loyal and diverse audience, ranging from young collectors in their 20s to seasoned enthusiasts in their 70s. “Even my dad is involved, and he’s 79,” Wilson shared.
As Whatnot continues to expand its reach, it remains clear that the platform has revolutionized the way people buy and sell collectibles. By merging the excitement of live-streaming with the enduring appeal of baseball cards, Whatnot has positioned itself as a leader in the booming collectibles market.