Polygon’s Pokemon NFT Frenzy Unleashes 10x Profits Overnight

Polygon-based collectibles marketplace Courtyard.io has whipped up excitement with Pokemon trading card NFTs.

Pokemons coming out of a Pokeball on an alien planet in the outer space.
  • A Polygon collectible tokenization marketplace has sparked significant buzz with Pokémon trading card NFTs.
  • The NFTs have been an instant sensation, generating mouth-watering profits for collectors.
  • The platform promises to revolutionize the trading of physical collectibles.

Tokenization has been hailed as the next big driver of DeFi adoption, attracting the attention of even the London Stock Exchange. As the use case continues to gain traction, Polygon is quickly becoming one of the go-to chains for projects, hosting funds from Hamilton Lane and Franklin Templeton.

But while the bulk of the discussion around tokenization has often been centered around traditional financial assets like stock, treasuries, and bonds, Courtyard.io, an NFT platform also built on Polygon, is taking a different approach, focusing on real-world collectibles, specifically trading cards.

Sponsored

The project’s latest initiative involving trading cards tied to the iconic Pokémon anime has caused significant buzz and seemingly generated mouth-watering returns for collectors.

An Instant Sensation

On Wednesday, September 20, Courtyard.io minted a collection of 175 Pokémon trading card packs representing a collection of previously disclosed trading cards. The collection entitles holders to one trading card per pack, which they can unveil within 24 hours. 

Courtyard.io explained that the drop was designed as a stress test for the platform to improve its ability to meet greater demand. 

"We're working on something BIG and need your help. We learned a lot these last couple drops and made improvements to keep up with demand. You have one job now: Break Courtyard.io," the team wrote.

Going for $5 each with purchases allowed with credit cards and USDC on the Polygon network, the packs were an instant sensation, selling out in seconds with the floor price jumping to $50 in a few hours, representing a whopping 1000% gain.

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As former Origins Head of Research Samuel Leach highlighted, the Pokémon pack drop included Professional Sports Authenticator (PSA) grade 9 cards worth an estimated $500. The NFTs can be redeemed on the Courtyard.io website for the physical or sent to a crypto wallet for self-custody.

The Future of Physical Collectibles?

Collectibles like Pokémon cards have typically been traded in physical stores or on platforms like eBay. However, a drawback of this, as highlighted by Leach, is that these platforms are rife with fake items.

But unlike these platforms, Courtyard.io appraises the authenticity of items before tokenizing them on the blockchain, storing physical copies with Brink’s, a prominent security company. In addition to ensuring authenticity, the platform can provide instant liquidity for the collectible market by leveraging blockchain technology.

On the Flipside

  • Aside from Pokémon cards, Courtyard.io also offers trading in other collectibles like basketball and baseball cards.

Why This Matters

A 2022 report published by Market Decipher estimated the size of the digital collectible market at $458.2 billion. Courtyard.io’s push to bring this market on-chain promises to bring billions in value to the Polygon network.

Read this to learn more about the growth of tokenization on Polygon:
Polygon Extends Tokenization Dominance with Mirae Partnership

Polygon is going head-to-head against Optimism for Celo’s Ethereum Layer 2 transition. Find out more:
Polygon Bids Against OP for Celo’s Ethereum L2 Transition

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.