Pokémon cards have grown into a multibillion-dollar collectibles market, and crypto startups are trying to make trading them faster by linking vaulted physical cards to blockchain tokens. The main challenge is whether tokenized platforms can build enough liquidity to compete with established venues such as eBay.
Pokémon cards have grown into a multibillion-dollar collectibles market, and crypto startups are trying to make trading them faster by linking vaulted physical cards to blockchain tokens. The main challenge is whether tokenized platforms can build enough liquidity to compete with established venues such as eBay.
Blockchain startups are moving deeper into the booming Pokémon card market, aiming to turn high-value physical cards into digital assets that can trade more quickly. According to CoinDesk, platforms such as ATH Labs’ Deadstock are placing professionally graded cards in secure vaults and issuing tokens that represent ownership of the underlying collectibles.
Blockchain startups are moving deeper into the booming Pokémon card market, aiming to turn high-value physical cards into digital assets that can trade more quickly. According to CoinDesk, platforms such as ATH Labs’ Deadstock are placing professionally graded cards in secure vaults and issuing tokens that represent ownership of the underlying collectibles.
The push matters because trading cards have become a sizable alternative asset market, with estimates cited by CoinDesk ranging from roughly $10 billion to $15 billion. Retail demand has spilled into major chains such as Costco, Target and Walmart, while eBay recorded $2.62 billion in card sales in 2025, underscoring how large the existing marketplace already is.
Crypto firms argue that tokenization could reduce some of the friction around physical collectibles. In the current model, cards may need to be graded, listed, shipped and authenticated repeatedly. A tokenized version can change ownership while the card remains in custody, with the physical item delivered only if an owner chooses to redeem it.
Deadstock, built by Abu Dhabi-based ATH Labs on Arbitrum, is focusing on high-grade cards such as PSA-10s. The company says its partnership with Japan Trading Card Center gives it access to a large supply network, which it views as important because each tokenized card must be backed by a real physical card.
Still, the model faces a major test: liquidity. Established marketplaces benefit from deep buyer and seller networks, pricing history and collector habits. Tokenized card platforms may offer faster settlement, but they still need enough users and inventory to make prices reliable and trades practical at scale.
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