Logan Paul’s Faulty Pokémon Purchase Proves the Need for Deeper Authentication
Front and center in the world of niche collectibles are Pokémon cards, or Pokémon TCG, the popular trading card game of the new millennium that originated in Japan and quickly dominated the American market. These cards were all the rage for decades and ultimately gained a cult following that is stronger than ever today. Interest may have faded for the trading aspect of the game, but fans have moved toward collecting.
The Pokémon TCG has remained prevalent over the years, but demand has spiked as of late. The pandemic inspired folks to explore new interests and hobbies, and in some cases, revisit old ones. In 12 months alone, the Pokémon Company churned out roughly 3.7 billion cards, shattering production records. Between March 2019 and March 2020, 500 million fewer cards were produced. As avid Pokémon card collector Kalvin Foley commented, the rare Charizard card he had his eye on would likely have been worth under $300 a year ago. Today, interest is far higher and the value has doubled. Just as coveted artwork spikes in value depending on rarity, Pokémon cards do the same.
The swift growth and recognition of the Pokémon TCG resulted in a variety of card layouts as the company toyed with new designs, leaving the world with some limited edition cards to fight over. As Dicebreaker points out, the majority of rare cards date back to the first few years of the game’s release. These uncommon cards are highly sought after amongst Pokémon fans, and their value continues to increase with each passing of hands. Some cards, like first edition Charizards, can go for up to $369,000 at auction. Unfortunately, with value always comes forgeries, as VIP-collector Logan Paul was recently faced with.
Paul is familiar with the high value of select Pokémon cards and decided to drop $3.5 million on an elite collection of first edition cards. His new collection included hundreds of cards, some worth an exorbitant amount, ultimately making it a wise purchase with appreciation in mind.
While the price was startling, Paul came across the holy grail of card sets in the collecting game. Pokémon experts questioned the purchase before it even arrived, raising concerns that discovering collections that rare is quite improbable. Paul previewed his new purchase to his followers only to discover that his “sealed and authenticated” box was full of G.I. Joe cards. He relived the disappointment on his podcast when sharing, “Being in that room that night was incredibly sad. The energy and the tragic feeling in the room was so palpable.”
Those who have been collecting Pokémon cards since their younger days likely never envisioned a future where their card collections could be protected by anything beyond plastic sleeves, but situations like these present a problem that today’s digital world has a solution for.
The middle-man in this transaction consulted an authentication service prior to the sale, but the impressive counterfeits slipped through the cracks. This goes to show that we’re at a standstill when it comes to authenticating items over the internet without proper verification. If Paul purchased this exclusive collection of Pokémon cards with a Digital Twin, any transaction history hiccups could have been recognized immediately thanks to the transparency of NFTs.
The Pokémon Company is just as frustrated with the wave of fake cards circulating the market as Logan Paul is. Between this multi-million dollar scam and the eight tons of counterfeit cards recently seized in Shanghai, it’s clear that forgery is rampant even in the card game world. As digital certification expands into physical goods, considering a Digital Twin for valuable collectibles could save future collectors from similar unfortunate events.
At ORIGYN, we ensure that individuals can invest in collectibles with immutable confidence. Digital Twin NFTs are the decentralized, scalable drivers we use to eliminate fraud. We leverage solitary, tamperproof duplicates of authenticated physical objects that will be the future-ready difference between a $3.5 million scam and successful high-value acquisition for collectors worldwide.
Learn more about how ORIGYN advances authentication technology and stay tuned to Twitter for announcements on ORIGYN’s digital authentication journey.
