Pokémon cards are becoming multibillion dollar market. Crypto wants to fix how they trade
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
AI-generated summary based on the linked source; not independently verified. This is not investment advice. Verify market-moving details at the original publisher before acting. See our editorial policy, AI content policy, and financial disclaimer.
Summary
The Pokémon trading card market has surged to an estimated $10 billion to $15 billion, driven by record sales and high demand at retailers like Costco, Target, and Walmart. eBay reported $2.62 billion in card sales for 2025, reflecting the market’s growth as an alternative asset class. Startups such as ATH Labs’ Deadstock are using blockchain technology to tokenize high-grade cards, enabling faster digital ownership transfers while the physical cards remain securely stored. However, these blockchain platforms face challenges from the established liquidity and network effects of incumbents like eBay.
Why it matters
This development highlights the transformation of physical trading cards into a multibillion-dollar alternative asset class that outperformed traditional financial markets like the S&P 500 and bitcoin in 2025. Tokenization aims to modernize a fragmented and slow-to-trade market, potentially reducing transaction delays and fees associated with physical card trading. It may also create new investment opportunities and liquidity by digitizing ownership, which could streamline trading for collectors and investors.
Key context
The Pokémon card market has evolved from a hobby into a high-value asset class with graded cards reaching hundreds of thousands to millions in value. Traditional trading is time-consuming due to grading delays and reliance on inefficient marketplaces. Blockchain platforms like Deadstock match each physical card to a digital token, allowing instant ownership transfers. Deadstock has partnered with Japan Trading Card Center (JTCC) for exclusive inventory supply access, seeking to achieve consistent liquidity. Despite this, eBay remains the dominant marketplace for liquidity and price discovery in card trading, commanding billions in annual sales.
Key numbers and entities
The Pokémon card market is estimated at $10-$15 billion in value. eBay reported $2.62 billion in sales for 2025. Logan Paul sold a Pikachu Illustrator card for $16.5 million. Startups include ATH Labs’ Deadstock and others such as Courtyard, Collector-Crypto, Phygitals, and Asia-based MemeStrategy. ATH Labs is co-founded by Dominic Jang and is backed by Bullish Capital. JTCC reported about $2.4 billion yen profit from Dec. 2024 to Nov. 2025 with assets of 6.9 billion yen.
What remains unclear
The source does not flag open questions but acknowledges challenges for tokenized platforms like Deadstock in overcoming eBay’s liquidity dominance. It is unclear how effectively these blockchain platforms can scale and sustain liquidity or how they will navigate price discovery complexities for rare cards. The market’s speculative nature and potential price volatility also remain concerns.