Saper Law Client Spotlight – Collectable
Interest in sports memorabilia has never been higher. Just last year, a Lebron James rookie card sold for a record $1.8 million dollars. That’s no anomaly — sports memorabilia sales have steadily increased over the last decade, and amid the pandemic they have skyrocketed.
Saper Law client, Collectable, is capitalizing on this expanded interest. Collectable has created a platform that allows users to own a fractional interest in sports memorabilia, providing an alternative investment vehicle for those seeking to diversify their portfolios.
Through the company’s digital platform, users can view memorabilia offerings and their prices per share. Like other public markets, the primary allure of ownership is financial. As the prices of the collectables go up, so does the value of individual shares.
As part of their marketing campaign and as method of rewarding their existing users, Collectable sponsors sweepstakes that give their users the chance to win coveted sports memorabilia.
In a previous sweepstake, every verified Collectable user was entered, free of charge, for the opportunity to win one of 100 “break spots” in a live opening of four memorabilia boxes. The sets contained autographed cards, printing plates, and other rare items with values up to $7,000.
Collectable has launched a new and ongoing sweepstakes titled The Road to Las Vegas Grail Chase. Users of Collectable’s platform who sign up for the sweepstakes will be randomly selected for a chance to win a spot in the 22 Box Break live opening featuring iconic boxes such as the 2020 Panini National Treasures Football Hobby Box and the 2019/20 Panini National Treasures Basketball Hobby Box. In total all 22 boxes have a retail value of $50,000! Users who sign up for an account with Collectable and register on their sweepstakes page before March 27 2022, have a chance to win autographed cards, printing plates, and other rare items.
Saper Law Drafts Sweeptakes and Contest Rules
Saper law regularly assists Collectable with drafting its sweepstakes rules. Sweepstakes are great marketing tools, but companies using them must make sure they are legal. Various federal and state laws govern the administration of sweepstakes. Additionally, the social media platforms often used by companies to promote a sweepstake have their own sets of rules.
Do you need similar assistance?
If you are in the process of developing a new contest, sweepstake, or other promotion, Saper Law can help you draft your rules and assist you with interpreting the social media platform terms and conditions that may apply to the administration of your promotion.
Saper Law’s Sweepstakes, Contests, Games and Promotions services include:
- Helping clients understand the difference between sweepstakes, contests, and illegal lotteries
- Drafting promotion guidelines and rules
- Conducting federal and state law compliance reviews
- Counseling around FTC disclosures
- Responding to violations of social media platforms’ terms of use
- Structuring and negotiating agreements with influencers
- Reviewing advertising and marketing copy for copyright and trademark issues
- Discussing how to safely utilize user-generated content created from a promotion
- Intellectual property protection
For more information about Saper Law’s services or for help with sweepstake, contest or game promotions, contact Saper Law at 312-527-4100 or book a consultation here.
