YouTuber Logan Paul not only purchased one of the world’s most expensive Pokemon cards recently, it’s now been revealed that he’s turning it into an NFT. Yes, you read that correctly, Logan Paul is turning a Pokemon card into an NFT.
The news comes courtesy of a video posted by Paul, with coverage from outlets like Kotaku. The card in question, a rare Pikachu Illustrator card from 1998, was purchased by Paul for a staggering $5,275,000, breaking the Guinness record for the “most expensive Pokemon trading card sold at a private sale.”
Congratulations to @LoganPaul on achieving his first Guinness World Records title!— Guinness World Records (@GWR) April 3, 2022
His PSA 10 Pikachu Illustrator is the most expensive Pokémon card sold in a private auction - $5,275,000
Read more: https://t.co/ghZiQ0yQO3 pic.twitter.com/opulLbzTsY
Its incredible value not only comes from its rarity, but also because the card was graded a 10 by the PSA, which is reserved for Gem Mint cards. According to the PSA site, the card Paul purchased is currently the only known mint Pikachu Illustrator card.
If the attention garnered from purchasing such a card wasn’t enough, he made sure to remind people about it being in his possession in the most Logan Paul-esque fashion imaginable by wearing it around his neck during his WrestleMania fight back in April. Now, he’s reminding people once again that he has it by noting it’ll be listed as an NFT on July 9 on the platform Liquid Marketplace for $0.10 each.
As noted by Kotaku in regards to Liquid Marketplace, “The platform currently has barely any online presence, history, or information, but shares a mission to ‘offer collectors the opportunity to co-own physical and digital assets through the power of tokenization’ on its about page.”
In addition to all of that, Paul is also claiming a minority 49 percent ownership of the card, and will be storing it in a TBD community vault.
It’ll be interesting to see how much interest, if any, there will be around the NFT once the listing goes live on July 9. Until then, we’re eager as always to hear what you think about Logan Paul not only owning the world’s most expensive Pokemon card, but deciding to turn it into an NFT.
Let us know in Chatty, and for more on Logan Paul, also be sure to read through some of our previous coverage including how he might’ve been swindled into buying $3.5 million in fake Pokemon cards.
Morgan Shaver posted a new article, Logan Paul mints most expensive Pokemon card into an NFT
How is he legally able to sell an NFT of someone else's IP?
It isn't very clear what exactly he's selling. Seems like it is NFTs that represent shares of ownership in the physical card? That seems like it dodges the IP.
I think it’s the same principle that allowed the seller to auction the card. It’s his card; he can do what he wants with it. It looks like he is creating shares of ownership in the form of NFTs, using blockchain to certify the legitimacy of those shares (such as it is).
Now if he were creating digital likenesses of the card and attempting to sell those, that would definitely be infringement.
That was my initial thought as well, but if he's just selling shares, that goes against the essential concept of NFTs. Shares are fungible. My 1/1000th and your 1/1000th of company X are interchangeable. Each NFT is supposed to be unique, that's the Non-Fungible part of their name.
Maybe he's divvied up the card and selling individual lots. Like you can own the bottom right corner of it.
It's stupid regardless.