Magic Eden Ventures into Pokemon NFTs in Collaboration with Collector
TDLR:
- Magic Eden, a leading NFT marketplace, is partnering with Collector to introduce tokenized digital collectibles, including 100 Pokémon cards, with some rare gems, like a 2000 Pokémon Gym Challenge Holo Blaine’s Charizard.
- These digital collectibles are 100% physically backed, allowing users to redeem them for the actual physical cards, and they’ll be minted unrevealed, adding a layer of anticipation.
- Polygon and Courtyard are simplifying the trading of real-life Pokémon cards on the blockchain, addressing concerns of scams in traditional transactions.
- This partnership brings a verification system to ensure the digital Pokémon cards accurately represent their physical counterparts.
- The most expensive Pokémon card, a PSA grade 10 Pikachu Illustrator card, was bought by Logan Paul for $5.275 million, and it’s exceptionally rare, awarded to only 39 contest winners in 1997 and 1998.
Magic Eden, a leading decentralized marketplace for peer-to-peer trading of non-fungible tokens (NFTs), has joined forces with Collector, an RWA (Real-World Assets) company based on the Solana blockchain.
Together, they are introducing a groundbreaking concept of tokenized digital collectibles that’s making waves among collectors.
Scheduled for its first release on October 18, this collaboration will showcase 100 tokenized Pokémon cards, with some real treasures among them.
Introducing tokenized digital collectibles, a new way to collect on Magic Eden 🪄
— Magic Eden 🪄 (@MagicEden) October 11, 2023
On Oct 18th, the first drop from @Collector_Crypt will feature 100 tokenized Pokemon cards released as single packs. Some of the top cards featured in this drop are:
⚡️2000 Pokemon Gym Challenge… pic.twitter.com/JVb5iyGooI
Notable gems in this collection include the 2000 Pokémon Gym Challenge 1st Edition Holo Blaine’s Charizard #2 and the 2007 Pokémon Ex Power Keepers Gold Star #100 Flareon-Holo.
What sets these digital collectibles apart is their substantial real-world backing.
They aren’t just pieces of digital art; they are 100% physically backed, allowing collectors to redeem their digital tokens for the actual physical Pokémon cards.
The intrigue deepens with the fact that these cards will initially be minted in an unrevealed state, similar to the concept of a “reveal lottery” familiar to NFT collectors.
This pioneering move may well pave the way for other marketplaces to explore the tokenization of real-world assets.
Trading Pokémon Cards Securely with Polygon and Courtyard
Another significant development comes from Polygon, a well-known blockchain company, which has partnered with Courtyard to revolutionize the trading of real-life Pokémon cards on the blockchain.
This partnership addresses concerns about scams in traditional card transactions.
The global collectibles market, currently valued at around $458 billion and projected to reach $628 billion by 2031, has prompted Pokémon companies to embrace digital versions backed by regulated custodians.
But the transition to digital collectibles isn’t without its challenges, as the crypto community has voiced concerns about centralization and censorship.
Nevertheless, the strategic partnership between Polygon and Courtyard brings a robust verification system to the table, assuring collectors that each digital Pokémon card mirrors its physical counterpart.
.@Courtyard_NFT is bringing the art of collecting and trading real-world assets on-chain, #onPolygon
— onPolygon (@onPolygon_) August 16, 2023
Their tokenization service and marketplace bring transparency, liquidity, and true digital ownership to RWAs pic.twitter.com/ypY9SIqaNx
To trade Pokémon cards using Polygon, users can visit Courtyard’s website, create an account, and browse available cards. Payment options include fiat and cryptocurrency.
Once the transaction is complete, digital cards are sent to the user’s digital wallet, facilitating seamless trading on NFT marketplaces like Opensea.
Those looking to convert physical Pokémon cards into digital form can do so by having them appraised by an approved authority. After appraisal, the cards are transformed into digital equivalents, with asset custody managed by Brinks, a reputable provider.
As of July 2022, there are 905 unique Pokémon, with over 9,000 unique English-language Pokémon cards, presenting a significant challenge for collectors.
The Pinnacle of Pokémon Card Value
Remarkably, the record for the most expensive Pokémon card trade currently stands at an astounding $5.2 million, a record set by the renowned social media personality and boxer Logan Paul.
This exceptional card was acquired by Logan Paul for a staggering $5.275 million, and holds immense rarity, having been awarded to only 39 winners of the 1997 and 1998 Pokémon illustration contests.
Among them, only 23 cards have been certified by PSA, with a solitary card achieving a pristine PSA rating of 10.
Logan Paul, in a remarkable trade, exchanged a PSA grade 9 Pikachu Illustrator card along with $4 million to obtain the PSA grade 10 card that he currently possesses.
For more Web3 news, check out the XGA newsfeed.
