Digital Social Hour Podcast Summary
Episode: The Ultimate Collectible Revolution: Are You Missing Out? | Josh Luber DSH #891
Host: Sean Kelly
Guest: Josh Luber
Release Date: November 15, 2024

Introduction to Josh Luber and Ghost Rite

In this episode of the Digital Social Hour, Sean Kelly welcomes Josh Luber, a renowned entrepreneur and the visionary behind several successful ventures in the collectibles market, including StockX and Fanatics Collectibles. Josh introduces his latest venture, Ghost Rite, positioning it as the evolution of the iconic Bear Brick collectible toy franchise.

Notable Quote:
Josh Luber (01:24):
"This is the best part. Now you have a company where I can actually put it on the table right here."

Ghost Rite: Reinventing Collectible Toys

Josh delves into the essence of Ghost Rite, highlighting its foundational roots in Bear Brick while emphasizing its unique evolution. Unlike Bear Bricks, Ghost Rite offers a blank canvas with no predetermined faces or genders, allowing limitless creativity. The recent release features NBA basketball-themed figures, including notable collaborations like Asia Wilson, marking a significant expansion into the WNBA.

Notable Quote:
Josh Luber (02:19):
"It's an evolution of Bear Brick. It's a collectible toy company after running other much larger businesses, now I get to create a brand and create a product and so that's fun."

Collectibility and Grading: The Heart of Value

A significant portion of the conversation centers around the importance of grading in the collectibles market. Josh explains how grading companies like PSA and AFA have revolutionized the valuation and trading of collectibles by standardizing condition assessments, thereby enhancing trust and market efficiency.

Notable Quote:
Josh Luber (04:33):
"If you have one that's really valuable, you can send it to PSA. They will encapsulate it and then send it back."

Comparisons with Funko Pop and Market Dynamics

Sean shares his own experience as a Funko Pop collector, prompting Josh to compare Ghost Rite with Funko. While Funko caters to a broad audience with mass-produced items, Ghost Rite focuses on scarcity and exclusivity, ensuring each collectible has a transparent and limited production run to maintain its value.

Notable Quote:
Josh Luber (19:15):
"That's why I like the Funko sodas a little more because it actually does show the total amount of them."

The Evolution and Impact of StockX

Josh provides an insightful retrospective on StockX, the marketplace he co-founded, which revolutionized the sneaker and collectibles market by introducing a single product page and ensuring authentication. This innovation streamlined the buying and selling process, effectively eliminating the traditional "chicken and egg" problem of marketplaces.

Notable Quote:
Josh Luber (11:22):
"Grading changed the game. When you were at StockX, were they selling collectibles yet or is that a newer thing?"

Navigating Market Booms and Busts

The discussion shifts to the volatile nature of the collectibles market, touching upon the boom during the pandemic and the subsequent market corrections. Josh emphasizes the interplay between supply and demand, the role of digital assets like NFTs, and the importance of maintaining scarcity to preserve value.

Notable Quote:
Josh Luber (17:08):
"It has to go back to the norm and so that's fine. We all wish we could have sold more rather than bought."

Transition to Fanatics Collectibles

Josh narrates his strategic move from StockX to Fanatics Collectibles, detailing the acquisition of trading card licenses and the expansion into a broader range of sports memorabilia. This transition was marked by high-stakes negotiations and the establishment of dominant relationships within the sports industry.

Notable Quote:
Josh Luber (36:20):
"We had to walk away because I didn't want to try to run a $10 billion company."

The Future of Collectibles and Ghost Rite

Concluding the episode, Josh outlines his vision for Ghost Rite, positioning it at the intersection of traditional collectibles and modern digital trends. By ensuring transparency in production and leveraging partnerships with prominent leagues and players, Ghost Rite aims to redefine the collectible landscape for the next generation.

Notable Quote:
Josh Luber (42:12):
"Ghostrite.com or you know, ghostwrite on Instagram. But December 10th is the big WNBA release. This will be a big deal."

Key Takeaways

• Grading & Authenticity: Standardized grading systems are crucial for maintaining trust and value in the collectibles market.
• Scarcity vs. Accessibility: Balancing limited production runs with widespread appeal is essential to preserve value without alienating fans.
• Market Dynamics: Understanding and navigating the cyclical nature of supply and demand can determine the longevity and success of a collectible brand.
• Strategic Transitions: Moving from marketplace platforms like StockX to specialized ventures like Fanatics Collectibles requires strategic foresight and robust industry relationships.
• Future Innovations: Ghost Rite aims to blend traditional collectible values with modern digital trends, ensuring relevance in an evolving market.

Conclusion

This episode of Digital Social Hour offers a deep dive into the evolving world of collectibles through the lens of Josh Luber, a pioneer in the field. From the intricacies of grading and market dynamics to strategic business transitions, listeners gain valuable insights into creating and sustaining value in the digital age. Whether you're an avid collector or an entrepreneur looking to navigate the fast-paced digital landscape, Josh's experiences provide actionable takeaways and inspiration.

Find Out More:

• Ghost Rite Website: ghostrite.com
• Instagram: @ghostwrite
• Upcoming Release: WNBA set dropping December 10th