🛒 🛑 No more selling on $SHOP
Shopify closing Exchange Marketplace, new Onfolio acquisitions, Centurica’s SBA Sold Rate data, Reddit NFTs blow up & being ready for crypto airdrops
Hey there 👋,
In this week’s ALTS by Flippa newsletter I discuss:
Shopify closing its Exchange Marketplace
New Onfolio website, service and plugin acquisitions
Centurica’s SBA Sold Rate data - content sites come last
Reddit’s Collectible Avatars onboarding 3M new users into NFTs
Making sure not to miss out on future crypto airdrops
Every heading is a discussion channel in the Alts by Flippa discord community - come join over 1900 of us.
Cheers!
ps if you’ve found this post on the web and not yet subscribed, you can do so below:
#ecommerce
Shopify just announced that its Exchange Marketplace (for buying and selling Shopify stores) is being shut down:
The Exchange Marketplace will be decommissioned November 1, 2022 and will no longer be available for merchants to sell or buy stores.
Merchants with current listings will be contacted by email.
This begs the question why:
The response from Shopify above states that they are looking to better allocate their resources and that there are now other platforms for buying and selling stores.
Not sure this reasoning makes sense when Flippa has been around since 2009…
A potential reason being mentioned in the #ecommerce channel of our Discord could be due to not being able to filter out scam buyers.
#acquire
Dom Wells at Onfolio (ONFO 0.00%↑) - "a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals" - announced the acquisition of Proofread Anywhere, Inc, a site that supports freelance careers in proofreading.
This is in addition to completing the acquisition of SEOButler and entering into an agreement to acquire Prevent Direct Access and Password Protect WordPress.
My content site pick on Flippa this week is in the diet and health industry and is listed for $190K
This week’s Centurica graph is about SBA Sold Rate:
Nate Gingsburg, the owner, states:
We can see that SBA-approved listings are clustered quite heavily within the eCommerce category overall, and more specifically within the Inventory sub-section.
This graph also shows that SBA-approved listings have a marginally higher sold rate. This suggests that the nature of the financing arrangements in these businesses makes them more attractive as acquisition targets due to the upfront capital required for a down payment.
For me, it’s super interesting to see just how few Content & Media assets (13) are sold using SBA, vs eCommerce (173) and even Services (34).
#nfts
Reddit launched more Collectible Avatars last Thursday, with Spooky Season leading the Opensea rankings yesterday with a current 0.184ETH floor on this one from a collection of 1800.
Indeed, NFTnow reported that 5 Reddit Avatar Collections were leading the ranks.
Bankless did a great piece explaining what these Collectible Avatars are actually about:
Collectible Avatars are limited-edition digital collectibles made by independent artists that confer holders with unique benefits on the Reddit website, like special treatment on your posts and customizable wearables.
The avatars, the initial 31 special-edition series of which have already sold out, are sold through the Collectible Avatars Shop, purchasable in USD, and maintained in Reddit Vault Polygon-based digital wallets.
The result is that almost 3M people have been onboarded into NFTs, most without knowing it:
PPMan on Twitter sums up that no-one knows which collection to ape in to (I personally missed out on minting):
#crypto
I haven’t played with any new blockchains since January of this year (when I bought into $METIS just before crypto came crashing down).
But 10 months into the bear market, it’s likely a good time to be looking again, and missing out on the recent Aptos airdrop has made me look into threads on Twitter like this:
As such, I’ve made sure I’m ready for the future/potential Arbitrum (layer 2 scaling on Ethereum) airdrop by setting up wallets and playing around with projects listed on guild.xyz.
Ok that’s it for this week. If you’re reading this on the web and you’re not yet subscribed just hit the button below.
ALTS by Flippa is owned by Flippa. Nothing in this email is financial advice and we are not professional investment advisers. We send weekly updates on what we're doing personally - consider it informational and for entertainment purposes only.