(AllHipHop News) Biggs has partnered with StockX, the world’s first online consumer “stock market of things” founded by Josh Luber.
Luber also serves as the company’s CEO, while Dan Gilbert, founder and chairman of Quicken Loans and majority owner of the 2016 NBA Champion Cleveland Cavaliers.
Rapper Eminem and his manager Paul Rosenberg are also investors in StockX.
“To commemorate the twentieth anniversary of Reasonable Doubt I told Jay Z I wanted to do something special that would capture the enthusiasm of our fans with the platform we built together while showing the impact Reasonable Doubt has on the world with millennials,” Kareem “Biggs” Burke told AllHipHop.com in a statement.
“After product seeding key influencers and celebrities at our last event, it created a buzz in the market place which led to this partnership and the world’s first consumer-goods IPO,” Biggs said.
“The Fourth of November x Reasonable Doubt merchandise collaboration is in honor of the album that connected the dots between artists of today and the movement we started years ago,” Biggs continued.
“If you think about the ‘Reasonable Doubt’ family tree, Jay Z introduced J. Cole, Rihanna. I introduced Kanye West to the market, who in turn, introduced GOOD Music, Pusha T, Big Sean and many others – a lot of careers have been birthed from the movement we started,” Biggs said.
Here is a breakdown on how StockX works:
“A consumer goods IPO on StockX will function the same way as a traditional IPO on the New York Stock Exchange, providing the same transparency, anonymity and authenticity:
Prior to IPO – pre-bidding opens on StockX at a minimum bid price
IPO Date – products are sold to highest bidders, based on quantity
Post IPO – products are shipped to buyers and can be resold on StockX”