Official Pokemon cards in the form of non-fungible tokens (NFTs) are being minted over Polygon (MATIC), taking the layer-2 scaling solution by storm.
In a lengthy thread on the social media platform X, digital asset consultant S4mmy.eth says that digital card boosters of the popular Nintendo franchise are being opened over the MATIC blockchain and have already sold out by the hundreds, some of them seeing 10x increases in price.
According to S4mmy.eth, the booster packs are randomized and initially cost $5 each, some of them containing high-grade cards that could be worth about $500.
“Each pack cost $5 and had a chance of receiving one of any of the pre-disclosed cards. The randomization is executed fully on chain for transparency.
Possible cards included PSA9 graded cards from 2000 with valuations of $500.”
To purchase the packs, investors can use either the stablecoin USD Coin (USDC) or a credit card. However, S4mmy.eth says that the packs now have a floor of around $50.
“To buy the packs you could either use USDC on Polygon or pay with a credit card. Anybody with zero crypto knowledge could acquire the packs…
The floor is now at $50 – a solid 10x from the mint price.”
According to the consultant, the digital cards could create a new system involving the physical ones – one that flips the script on classic trading card collecting.
“This poses the question: Why open a physical and go through the grading/shipping/digitization?
Opening a digital pack online, and then redeeming it at PSA9 graded (or maybe 10) makes a lot more sense.
Reverse engineer the historical model with enhanced security.”
MATIC is trading for $0.527 at time of writing, a 2.8% decrease during the last 24 hours.
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Source: https://dailyhodl.com/2023/09/21/gotta-catch-em-all-official-pokemon-nft-trading-cards-take-polygon-matic-by-storm/