Kevin Durant’s jersey from Nets debut hits memorabilia stock market
The jersey Kevin Durant donned for his debut with the Brooklyn Nets has hit the market. In a novel twist on a traditional auction, however, Durant’s jersey instead will be a commodity traded on the memorabilia stock market.
Investment app Otis is behind the unconventional utilization of a stock-type market to move Durant’s jersey, per TMZ Sports.
Representatives for Otis relayed that the process involves selling initial shares before trading of the jersey is opened up. At that point, shareholders can either sell their stake or accumulate more shares.
The value of the jersey is currently believed to be $47,600, but Otis reps say it’s not unusual to see items like Durant’s jersey increase from 150% to 400% in value.
Durant originally signed with the Nets in a sign-and-trade deal to leave the Golden State Warriors after two NBA titles in July 2019. The 2014 NBA MVP did not take the court with the Nets during the 2019-20 season after suffering an Achilles tendon injury during Game 5 of the 2019 NBA Finals.
The superstar’s on-court debut with Brooklyn finally arrived on Dec. 22, 2020, coincidentally against the Warriors. Durant scored 22 points on 7-of-16 shooting while adding five rebounds and three assists in a 125-99 victory.
Shares of the No. 7 jersey worn by Durant that night officially began selling on the market Tuesday.