Pokémon cards are becoming multibillion dollar market. Crypto wants to fix how they trade
Collectors are spending millions on trading cards, while blockchain startups are turning physical Pokémon cards into digital assets. The harder task is creating enough liquidity to compete with established marketplaces.
On a chilly April morning, a line of eager buyers formed outside a British Columbia Costco, impatiently waiting to purchase the highly sought-after Prismatic Evolutions Pokémon cards. On secondary marketplaces, these cards often sell for several times their retail price, with a rare Pikachu Illustrator recently selling for a staggering $16.5 million to venture capitalist AJ Scaramucci.
Retail giants Target and Walmart have also noticed the surge in Pokémon card sales, with Target's sales up 70% and Walmart's online marketplace experiencing a 200% jump. This phenomenon is part of a larger trend transforming trading cards into a multibillion-dollar market, akin to an alternative asset class. The global value of these cards is estimated to be between $10-$15 billion, driven by decentralized dealer networks, local shops, and conventions.
However, the trading process remains slow and inefficient, with cards requiring weeks or months to be graded and shipped. To address this, startups are turning to blockchain technology, creating platforms like Deadstock from ATH Labs. By tokenizing high-value, professionally graded cards and storing them in secure vaults, these platforms aim to streamline ownership transfers and trading.
While the current activity is still small compared to traditional marketplaces, the potential for growth and innovation is evident.
Written by urgent.news from CoinDesk's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
