METAEXCHANGE, "THE STOCK MARKET FOR STUFF," STARTS A NEW LIFE ON WALL STREET!
October 31, 2002 (New York, NY) MetaExchange, the original online "stock
market for stuff" has moved its headquarters to the world's business
capital, New York City's Financial District, with a new management team at the helm. The electronic trading pits of MetaExchange, which deal in such popular collectibles as Beanie Babies and Yu Gi Oh! cards, now stands among the busy trading floors of the Mercantile Exchange and The New York Stock Exchange.
To coincide with the move, MetaExchange has added more of today's most
popular collectibles to its floor. With more staff members now working on site development, MetaExchange has likewise begun to breathe new life into "old favorite" collectibles, such as coins and bullion, Pokémon toys and games, and Hallmark ornaments.
Said Kristina O'Neal, Marketing Director of MetaExchange, "While Beanie Babies and Yu-Gi-Oh! cards remain our most actively traded collectibles, the volume of trades of newer commodities like NASCAR® Diecast cars, and Cows on Parade™ figurines are growing steadily."
Since the opening bell rang on its virtual trading floor in 1999,
MetaExchange has cleared over 350,000 transactions totaling more than $51
million in volumes sales. Modeled after the "real" stock exchange, its markets consist of
real-time bid-ask trading pits where traders can buy and sell collectibles as "commodities" in a purely unrestricted market. And with a large membership consisting of retailers, dealers, distributors, and collectors, MetaExchange is positioned
to become the next model of online commerce.
"Meta works just like the NASDAQ or the New York Stock Exchange," Said Ajay Arora, co-owner of MetaExchange. "A potential buyer can choose to take the 'market price',
the price currently being displayed in our pits, or put down a bid amount
for others to see. Our computers match the buy and sell orders based upon
price, payment and shipping preferences and other options. The buyers and
sellers are notified via email when a transaction takes place and contact
information is exchanged."
About MetaExchange
MetaExchange is a real-time spot market transaction infrastructure used by
businesses to dynamically manage inventory. MetaExchange's executive team is
made up of both technologists and management veterans each with over five
years experience running companies that design, build, and manage innovative
internet-based transaction systems. MetaExchange is a privately held C
corporation.
For more information contact:
Kristina O'Neal
Marketing Director, MetaExchange
212-201-7786
Kristina@metaexchange.com
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