The token has rallied more than 1000% in two days as users swarmed the platform’s Pokémon card gacha machine.
With the physical trading card market at all-time highs, crypto natives are piling into CARDS, the token of Collector Crypt.
CARDS is up 286% over the last 24 hours, and up more than 10x since yesterday to a $450 million fully diluted valuation. The token initially struggled after its release on Aug. 30, but began to garner attention yesterday after notable investors and traders began to promote the platform.
CARDS Chart – CoinGeckoCollector Crypt tokenizes the physical Pokémon card market, offering users an open market for card trading, a gacha vending machine, and a buyback mechanism that provides instant liquidity for their cards at a market discount.
The platform is similar to NBA Topshot in a way, but instead of NFT cards, it leverages physical Pokémon cards that command value outside of the native marketplace. The gacha vending machine serves as an alternative to physical card pack openings and recycles cards owned by the platform. Collector Crypt’s instant liquidity means any user who pulls a rare card via the gacha machine is not required to wait for a real buyer to purchase the card.
The digital trading card game (TCG) craze has quietly been hitting all-time highs, with the first week in August recording more than $10 million in cumulative volume according to Dune Analytics. $9.9 million took place on Collector Crypt, while other marketplaces such as Phygital and Emporium accounted for an additional $240,000.
Source: https://thedefiant.io/news/nfts-and-web3/cards-token-soars-as-traders-flock-to-tokenized-pokemon-card-platform
