Footnotes
1 The “Comic Book” category has had a total of thirteen exits off the Rally platform since 2021, which is more than any other asset category. To
calculate the holding period, we measured the difference in years between the offering start date and the offering exit date. To calculate annualized return, we used the following formula: CAGR = (( EV / BV ) ^ 1/n ) -1 ) X 100. The variables for each comic book used were as follows: EV = exit market cap; BV = io market cap; n = holding period (years). For any asset with a holding period of less than six months, we used the gross return instead of the compound annual growth rate to provide a
more realistic estimate of appreciation. Using the results, the average annualized return for exits in the Comic Books category was 37%. See footnotes in the investment memo at this link for more detail.
2 The #BOBAPROTO offering was qualified by the SEC on September 19th, 2022. Certain users were provided with Early Access to invest prior to the official launch at 12 PM ET on October 28, 2022.