Alt: Platform Profile

Alt is a trading-card marketplace, vault, pricing-data platform, auction house, and collateral-lending service.

Unlike Rally, Alt does not primarily turn collectibles into fractional securities.

Users generally buy, sell, store, and finance whole physical cards or packs.

Current platform functions include:

• fixed-price card marketplace;
• auctions;
• Alt Vault;
• collection tracking;
• Alt Value pricing data;
• multi-marketplace research;
• PSA grading submission;
• collateral loans;
• seller cash advances.

The economics depend heavily on how the card is sold.

Fixed-price buyers currently pay no Alt marketplace transaction fee, while sellers can pay 4%–14% depending on sale price and Rewards tier.

Auction buyers currently pay a 20% buyer's premium.

May fit better for

• sports-card investors;
• trading-card collectors;
• users who want insured vault storage;
• investors who want marketplace pricing data;
• high-value card owners who may borrow against collections;
• collectors selling through fixed-price or auction formats.

May fit less well for

• investors seeking fractional ownership;
• investors who want securities-market protections;
• investors unwilling to accept high selling costs on lower-value cards;
• users who want broad alternative assets beyond cards;
• investors who treat appraisals as guaranteed sale values.

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Company identity

Current payment/banking instructions identify:

• Legal name: Alt Platform, Inc.

Alt Platform operates the Alt marketplace/vault ecosystem.

It is not a public securities exchange.

It is not a conventional FINRA stock broker for card transactions.

The collectibles are physical personal property.

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Marketplace ownership model

• Fractional securities: No
• Whole physical cards: Yes

When a user buys a card on Alt, the economic asset is the actual collectible.

Cards eligible for marketplace sale are held in the Alt Vault under the platform's current custody workflow.

This differs from owning shares in an entity that owns a collectible.

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Fixed Price Marketplace — buyers

Current Fixed Price fee:

• Fixed price buyer marketplace fee: 0

Payment-method fees can still apply.

A "no buyer marketplace fee" statement does not mean every payment method is free.

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Current fixed-price seller fees

Seller fees depend on:

1. card final sale price;
2. Alt Rewards tier.

Current table:

• Fixed price seller fees:
• Base:
• 1 to 249: 14%
• 250 to 7499: 9%
• 7500 to 9999: 7%
• 10000 plus: 5%
• Silver:
• 1 to 249: 12%
• 250 to 7499: 8%
• 7500 to 9999: 6%
• 10000 plus: 5%
• Gold:
• 1 to 249: 10%
• 250 to 7499: 7%
• 7500 to 9999: 5%
• 10000 plus: 5%
• Black:
• 1 to 249: 9%
• 250 to 7499: 6%
• 7500 to 9999: 4%
• 10000 plus: 4%

These fees make card value and seller activity materially important.

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Fixed-price seller math

$200 card — Base tier

$200 × 14% = $28

Seller receives:

$172

before other costs.

$1,000 card — Base

$1,000 × 9% = $90

Seller receives:

$910

$8,000 card — Base

$8,000 × 7% = $560

Seller receives:

$7,440

$15,000 card — Base

$15,000 × 5% = $750

Seller receives:

$14,250

The effective selling cost falls as value/reward tier rises.

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Alt Rewards

Current Rewards tiers are based on quarterly transaction volume.

Current thresholds:

• Rewards:
• Base:
• Quarterly volume: under $25,000
• Silver:
• Quarterly volume: $25,000–$100,000
• Gold:
• Quarterly volume: $100,000–$300,000
• Black:
• Quarterly volume: over $300,000

Higher tiers can reduce fixed-price selling fees and increase certain auction seller bonuses.

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Auctions

Current Alt Auction buyer premium:

• Auction buyer premium: 20%
• Auction seller direct fee: 0

Auction sellers currently receive the hammer price plus a seller bonus determined by:

• submission value;
• Alt Rewards tier.

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Auction buyer math

Hammer price:

$10,000

20% buyer premium:

$2,000

Total before applicable payment/shipping/tax effects:

$12,000

This is a major difference from the Fixed Price marketplace, where the buyer-side platform fee is currently zero.

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Auction seller bonus

Current seller bonus tables can result in a seller receiving more than the hammer price.

The bonus depends on:

• total submission value when received;
• Rewards tier.

For example, the current table ranges from roughly:

• Auction seller bonus:
• Low end: 104% of hammer-equivalent payout structure
• High end: up to 115%

The hammer price itself can be below expectations.

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Vault

The Alt Vault is central to the business.

Current vault functions include:

• secure storage;
• digitization;
• insurance;
• marketplace eligibility for supported cards;
• collection tracking;
• lending collateral.

Current supported sellable graded-card companies include:

• PSA;
• BGS;
• BVG;
• SGC;
• CGC.

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Vault fees changed for lower-value graded cards

Current vault-fee page states:

• Graded card intake:
• Alt Value above 50: 0
• Alt Value 50 or less: 5
• Graded card storage fee: 0
• Raw card intake fee: 5
• Raw card storage fee: 0
• Graded sealed pack intake fee: 25
• Wax non graded pack intake fee: 25

Older help pages can still describe supported graded-card intake as universally free.

Use the current Vault Fees page as controlling.

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Vault insurance

Alt states vaulted assets are insured while stored in the Vault.

Insurance relates to custody/physical risks under the applicable policy.

It does not insure:

• collectible price;
• grading-value changes;
• inability to sell;
• market demand.

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Market eligibility requires vaulting

Current Alt rules require cards sold through the fixed-price marketplace or auction structure to meet applicable vault/grading conditions.

That standardizes:

• item identity;
• custody;
• marketplace fulfillment.

It also means a seller cannot simply list every ungraded card sitting at home.

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Alt Value

Alt provides proprietary estimated card values.

Current research draws on sales across multiple marketplaces/auction sources.

• Alt Value: Yes
• Price research: Yes
• Marketplace sales data: Yes

Alt Value is an estimate.

It is not:

• a guaranteed offer;
• an appraisal that a buyer must accept;
• a securities NAV.

A thinly traded card can sell materially above or below an estimated value.

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Sold-listing data subscription

Current optional data subscription:

• Full sold listing data subscription: $15/month
• Mandatory for account: No

The subscription gives broader sold-history access across major marketplaces.

Basic account creation remains free.

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Marketplace search across external venues

Alt allows users to research cards listed on other marketplaces and can redirect users to external listings.

That makes Alt partly a collectibles research tool, not just a transaction venue.

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Payment-method costs

Current payments table includes card/wallet fees such as:

• US credit or debit card fee: 3.3%
• International credit card fee: 4.3%
• Apple pay fee: 3.3%
• Google pay fee: 3.3%

ACH and wire arrangements vary under current instructions.

Payment processing can still cost money.

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Lending against cards

Alt Lending allows eligible U.S. customers to borrow against vaulted card collections.

Current headline terms:

• Alt lending:
• Maximum LTV: up to 40%
• Minimum loan: 25000
• Loans over 2m: contact account manager
• US only: Yes

Eligible collateral depends on:

• grading;
• value;
• condition;
• portfolio composition.

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Lending rate structure

Current Alt Lending provides:

• Adjustable rate: 9%–10% minimum annual rate plus adjustable SOFR component
• Fixed rate option: Yes
• Origination fee: 1%
• Prepayment penalty: 0

The exact interest rate is loan-specific.

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Loan math

A $25,000 loan with a 1% origination fee:

$25,000 × 1% = $250

That is before interest.

At the minimum loan size, the borrower also has to pledge enough eligible card collateral to satisfy Alt's loan-to-value requirement.

At 40% LTV, a simplified $25,000 loan would require roughly:

$25,000 ÷ 40% = $62,500

of qualifying collateral value.

Actual required collateral can be higher.

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Collateral risk

A card-backed loan creates a new risk that an unleveraged collector does not have.

If values decline or loan conditions are violated:

• additional collateral may be needed;
• card sales can be applied against the loan under current terms;
• the borrower can lose collateral.

Borrowing against an appreciating collectible can magnify losses if the appreciation thesis is wrong.

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Cash advances are not loans

Alt also offers certain auction sellers cash advances.

Current program can offer up to:

• Auction cash advance: up to 70% of estimated consigned value

Current help distinguishes these advances from Alt Lending:

• no traditional interest;
• no repayment schedule;
• payout is reconciled through the auction.

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Grading

Alt can facilitate PSA grading submissions.

Grading fees are separate and can vary by:

• service level;
• declared value;
• turnaround;
• PSA upcharges.

A higher grade can improve market value.

Grading is not a guarantee of liquidity or future appreciation.

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Sales tax statement requires care

Alt states its Vault facilities are in Delaware and current platform transactions of vaulted cards are not charged sales tax under its stated structure.

Tax treatment can depend on:

• jurisdiction;
• physical delivery/outtake;
• future law;
• transaction facts.

Assessment

Alt is best understood as financial infrastructure for high-value card collectors.

It combines four functions that usually require separate providers:

• marketplace;
• vault;
• valuation/research;
• collateral finance.

The fee structure makes behavior matter.

A buyer on Fixed Price currently pays no Alt marketplace fee, but a Base-tier seller of a $200 card pays 14%.

An auction buyer pays a 20% premium.

High-value, high-volume collectors can receive materially better seller economics through Rewards.

The lending product is useful for card-rich/cash-poor collectors, but borrowing against volatile collectibles adds leverage to an already speculative asset.

Alt is not a fractional-investment product.

The user owns the physical card, which is a major structural difference from Rally.