Tokenized Pokémon card trades surge 5.5x to $124 million in August

Pokémon trading cards may be the next real-world asset (RWA) class to move on-chain as blockchain technology extends its reach beyond traditional markets.

Over the past year, tokenization has transformed access to traditional markets like gold and US treasuries, which are primarily operated on efficient digital rails.

However, collectibles like Pokémon cards remain tied to physical logistics, with sellers still mailing graded and ungraded cards to buyers around the globe.

Despite the inefficiencies, the market is massive. Social auction platform Whatnot reportedly saw $3 billion in sales last year, much of it driven by Pokémon.

Tokenized Pokémon trading cards

This fragmented but vibrant ecosystem has drawn comparisons to Polymarket’s rise in prediction markets.

On Sept. 3, Danny Nelson, research analyst at Bitwise, argued that tokenization’s true disruption could lie in areas without strong financial infrastructure.

According to him, Pokémon cards, with a multibillion-dollar footprint yet limited institutional frameworks, fit that mold. Investors will not find Pokémon ETFs or large-scale investment funds, at least not yet, but blockchain platforms are beginning to fill that gap.

Already, Messari data shows that four leading marketplaces processed $124.5 million in tokenized Pokémon card trades in August, a 5.5x increase since January.

Courtyard led with $78.4 million, followed by CollectorCrypt at $44 million. Smaller platforms like Phygitals and Emporium also posted triple-digit growth rates, reflecting rising retail adoption.

Tokenized Pokemon Trading Card Volume Since January 2024 (Source: Messari)

According to the analyst, this model blurs the line between collectibles and gaming, echoing the way Polymarket unlocked global demand for prediction markets.

Collector Crypt rises

Meanwhile, Collector Crypt, a Solana-based marketplace, is at the center of this shift. The platform allows collectors to tokenize physical cards, minting NFTs for instant trading.

While similar services exist for other sectors, Collector Crypt’s market momentum has been unusual thanks to the novelty of its idea. Speaking about the platform, Simon Dedic, the founder of Moonrock Capital, said:

“It gave crypto degens the chance to collect real-world Pokémon RWAs in a gamified, randomized, and crypto-native way. Exactly what the market didn’t know it needed – and instantly got addicted to.”

As a result, its native token, CARDS, surged 10x in less than a week after launch, pushing its fully diluted valuation to $450 million.

Meanwhile, Nelson explained that part of the excitement comes from revenue expectations. He added that the marketplace has projected $38 million in annualized revenue, with traders betting on potential buybacks to return value to tokenholders.

He also noted that demand has spilled into the platform’s “Gacha machine,” a digital vending system offering randomized card pulls. In the past week alone, the feature generated $16.6 million.

This has resulted in the Collector Crypt’s team struggling to keep it stocked as users continue to drive activity.

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