Thanks to co-ownership startup Otis, investing in premium culture is no longer the exclusive realm of the ultra rich
Otis democratizes access to investment opportunities. It's a fractional ownership model in which consumers can buy a share of an asset, swap shares with each other, manage a digital portfolio and profit when an item is sold at market.
According to Otis's criteria, assets include art, comics, and sneakers that “Are culturally significant. …can appreciate in value, are of the highest quality and condition, [and] are supported by positive macro trends.” In addition to identifying objects that are financially valuable, the company also looks for assets that “resonate with our community” and “are meaningful to our generation.”
In addition to providing consumers with partial ownership, Otis also creates opportunities for members to learn about investing and about specific assets through their Otis 101 webinars. The platform is a great way for younger, aspirational consumers to overcome the obstacles—the high price points and limited availability—that stand in the way of participating in the cultural marketplace while building personal wealth. Plus, through its carefully curated aesthetic, valuing cutting-edge hipness over an old school, timeless version of luxury, Otis creates a market that's more accessible to its community not only financially but also culturally.
Otis is just one of the companies finding creative solutions for offering luxury to ambitious, young consumers. Check out other ways that luxury is democratizing access in PSFK's recent research paper.