Otis Gallery LLC - Membership Interests Series - Gallery Drop 122 Fund
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- Otis Gallery LLC - Membership Interests Series - Gallery Drop 122 Fund (OGMBS) represents a specific series within Otis Gallery LLC, a Delaware series limited liability company formed in 2018 and headquartered in New York, NY. The parent company operates a fractional ownership platform that acquires, manages, and enables trading of membership interests backed by investment-grade art, collectibles, sneakers, comics, trading cards, video games, NFTs, books, and designer handbags; offerings span categories such as rare Nike Air Jordan and SB Dunk sneakers, Pokémon and sports trading cards (e.g., PSA GEM-MT 10 graded items), graded video games (e.g., Wata 9.8 sealed titles like Halo: Combat Evolved), contemporary paintings by artists including Kehinde Wiley and Banksy, sculptures, and first-edition books like J.K. Rowling's Harry Potter and the Philosopher's Stone. Gallery Drop 122 specifically holds a first edition, first printing copy of Harry Potter and the Philosopher's Stone (1997) in good, never-read condition, acquired for $110,000 from a private collector, with membership interests offered at $1.00 each up to a maximum of 115,800 units to fund acquisition, storage, insurance, sourcing fees, brokerage, and reserves. Otis Gallery LLC targets accredited and qualified purchasers seeking liquidity in alternative assets otherwise inaccessible to retail investors, with operations centered in the United States through a Reg A+ structure that segregates series assets and liabilities. The platform democratizes ownership of high-value collectibles via non-voting membership interests, providing secondary trading opportunities and exposure to appreciation in art and memorabilia markets. Each series, including Gallery Drop 122, reimburses the manager for expenses like 1% brokerage fees, up to 10% sourcing fees, insurance, storage, transportation, and ongoing reporting, with proceeds prioritized for asset acquisition. In 2022, Otis Gallery LLC was acquired by Public.com, integrating its fractional asset model into a broader investment platform to expand listings, user access, and transactional revenue streams. This strategic transaction, estimated in the mid-to-high eight figures, followed the company's $16.5 million in prior funding and enhanced liquidity for collectibles trading amid growing demand for alternative investments. No further major acquisitions, partnerships, or product launches specific to Gallery Drop 122 or the parent entity have been reported through 2025.