Collector Crypt drives $150 million in randomized Pokémon card trades as CARDS token soars
Quick Take
- In the last week alone, Collector Crypt has facilitated over $10 million in Pokémon trading volume.
- The following is excerpted from The Block’s Data and Insights newsletter.
Pokémon cards have been the talk of the town over the past few days, and Collector Crypt has been at the center of the attention.
Collector Crypt is a Solana-based trading card game (TCG) marketplace that tokenizes graded Pokémon cards into redeemable NFTs and runs a "Gacha," or randomized and gamified, pack-buying experience. The platform also has a feature for instant buyback offers for packs, providing instant liquidity for users.
To expand on this, the platform has a standing onchain quote to repurchase revealed card NFTs for about 85%-90% of a real-time indexed value sourced from external markets such as eBay and ALT, with the physical card staying in partner vaults for later resale.
In the last week, Collector Crypt has facilitated over $10 million in Pokémon TCG trading volume, down slightly from the over $16 million lodged the previous week. Year-to-date, the platform has seen over $150 million in total trading volume.
Since the beginning of the year, weekly trading volume of Pokémon TCG cards on the platform has risen by an average of 27% per week. On the other hand, the amount spent on gacha spins on the platform has averaged over $5.7 million per week over the past five weeks. Collector Crypt has averaged over $666,000 in weekly revenue in the same period, most of which is reallocated for pack buybacks.
Collector Crypt launched its token, CARDS, on Aug. 29 following a public presale. At launch, CARDS had a fully diluted valuation of approximately $67 million, before proceeding to rise to over $600 million in just a week's time, according to CoinGecko data.
Moreover, only about 10% of the total supply of CARDS is in circulation, meaning that its peak circulating market cap stood at just $60 million. Both collectors and crypto-native have been pulled in by a combination of a sustained revenue-generating business, real inventory, instant liquidity via buyback quotes on packs, a simple user path for redeeming vaulted cards, and a low token float.
This is an excerpt from The Block's Data & Insights newsletter. Dig into the numbers making up the industry's most thought-provoking trends.
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