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Tokenized Pokémon cards aim to bring liquidity to a $10 billion market

Retailers including Target, Walmart, and eBay have reported sharp trading card sales growth, while blockchain startups are trying to make tokenized cards easier to trade.

Reported · Written up by our desk · Market Structure

Collectors are spending millions on Pokémon trading cards, pushing the market to an estimated $10 billion to $15 billion as sales boomed across big-box retailers and online platforms, including a Logan Paul sale of a rare Pikachu Illustrator card for $16.5 million, according to CoinDesk.

Target said trading card sales rose nearly 70% last year, mainly driven by Pokémon, and it plans to expand in-store space for the category, while Walmart reported a 200% jump in online trading card sales and both retailers imposed purchase limits to curb scalping.

The cards are increasingly being treated like an alternative asset class, with CoinDesk noting eBay recorded $2.62 billion in 2025 card sales, and that Pokémon cards rose 28% this year even as the S&P 500 was up about 13% and bitcoin was down 29%.

Blockchain startups are now trying to address long-standing market fragmentation by tokenizing high-grade cards on-chain and storing them in vaults, but CoinDesk reports they still face liquidity and network-effect headwinds from incumbents like eBay.

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