315,000 shares of the cultural, alternative asset sold out in just 11 minutes on the Rally app, underscoring a surging interest in collectible, tangible assets.
Today marked a significant event for Rally, the alternative investment platform known for transforming collectibles into accessible equity shares. In a mere 11 minutes, shares of the Daniel Arsham x RWB Porsche 964 sold out, potentially signaling a growing interest in unique, tangible assets.
Daniel Arsham is an artist celebrated for his eroded sculptures that blend art, architecture, and archaeology. Arsham’s work often imagines future relics of contemporary life, adding a layer of timelessness to everyday objects. The collaboration with RWB, or Rauh-Welt Begriff, brings his distinctive style to the automotive world. RWB, founded by Akira Nakai, is famed for its dramatic custom Porsche modifications, emphasizing aggressive aesthetics and bespoke craftsmanship.
The IPO’s launch was followed by an event at Rally’s museum in SoHo, NYC, where Arsham attended, and the car was showcased. The Daniel Arsham x RWBA Porsche 964 features a unique slant nose, a 993 GT2 rear wing, and interiors in Arsham Green Pantone, creating a visually stunning and historically significant vehicle.
Rally’s approach to investment is forward-thinking. By acquiring assets, like their purchase of the Daniel Arsham x RWBA Porsche 964, and offering shares in rare culturally-relevant collectibles, Rally provides a platform for investors to hold equity in items that were previously out of reach for most. This model not only broadens the scope of investment possibilities but also ensures transparency and security, as all transactions are overseen by FINRA-registered broker-dealers.
The specifics of this IPO further demonstrate its appeal. Each share was priced at an accessible $10, with a total of 31,500 shares offered, leading to an initial market cap of $315,000.
