The tokenization trading market for Pokémon cards has been extremely hot lately. I noticed that by mid-April, weekly earnings had already surged to $5.38 million, nearly approaching the historic record set in September last year. Interestingly, this wave of enthusiasm is completely different from the situation six months ago.

Last September’s surge was mainly driven by the issuance of tokens by Collector Crypt, which caused a weekly spike, but now it’s different. The recent peak has been sustained for six consecutive weeks, with most of the revenue coming from the Courtyard platform. This indicates that the market has shifted from short-term speculation to more stable demand.

The 30th anniversary of Pokémon is indeed a major catalyst. Nintendo plans to release commemorative products worldwide this year, featuring old back designs and popular cards from various generations. The NFT market has already reflected this demand in advance, with some collectors starting to position themselves early.

I think what’s more worth paying attention to is that tokenized Pokémon cards have already broken away from the speculative model of pure virtual avatar NFTs from a few years ago. Platforms like Courtyard store physical cards in professional vaults and issue tokens that can be exchanged for the actual cards. The benefit of this approach is that collectors who want liquidity but also want to avoid pure crypto speculation risks finally have a feasible solution.

The tokenization technology of these platforms essentially provides liquidity tools. As cards are continuously exchanged and physically delivered, the on-chain market’s pricing function has been validated. This sets a successful example for tokenizing intellectual property and collectibles. By the way, this market is a completely independent secondary market, with no official connection to Pokémon or Nintendo.

According to market analysis, if Courtyard can maintain its current revenue level, its annual revenue in 2026 could reach $200 million, surpassing most mid-sized NFT trading platforms in 2021. Moreover, their marketing costs have been significantly reduced because demand is directly benefiting from the craze in the physical card market.

However, there’s also a recent phenomenon worth noting. Several Pokémon card shops across the UK have experienced break-in robberies recently, with stores in Cheshire and Bristol losing tens of thousands of pounds. Under these physical risks, the tokenized market offers a relatively safer alternative—having high-value cards stored by professional institutions and converted into on-chain tokens. Collectors can participate in card trading while greatly reducing the risk of theft.

I believe this wave of the Pokémon market has already found its true product positioning. In the long run, this model is expected to extend to other categories like sports cards and luxury watches, establishing a new business model for these traditional collectibles.