Not only did YouTuber Logan Paul recently purchase one of the world’s most expensive Pokemon cards, but it has now been revealed that he is turning it into an NFT.
Logan Paul and his Pokemon Card
The news comes courtesy of a video posted by Paul, which has been echoed by media outlets such as Kotaku. The card in question, a rare 1998 Pikachu Illustrator card, was purchased for an estimated $5,275,000, breaking the Guinness World Record for the “most expensive Pokemon trading card sold in a private sale.”
If that seems hard to believe, I’ll tell you that Paul is turning the Pikachu Illustrator Pokemon card into a NFT so all his fans can have a sample of this wonderful card.
The purchase has caused the YouTuber to break the Guinness World Record for the “most expensive Pokemon trading card sold in a private sale”.
Congratulations to @LoganPaul on achieving his first Guinness World Records title!
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
— Guinness World Records (@GWR) April 3, 2022
On July 9 at 3 p.m. EST, the card will be minted, as well as listed as NFT on Liquid’s marketplace. Buyers must spend $5 million to own the NFT.
Paul will claim a minority, i.e. 49% ownership of the card, which will be stored in a yet to be decided community vault.
Paul reserves the right to do anything with the physical card depending on the inclinations of the majority of NFT holders.
In fact, Paul is the co-founder of the Liquid Marketplace platform and there is no information available about its uses and functionalities. Collectors can co-own physical and digital assets through tokenization.
Since Nintendo owns the Pokemon IP, there are questions about the legality of the whole process. Due to the negative reactions NFTs have received in the video game world, only the future knows what lies ahead for Logan Paul and the Pikachu Illustrator card.
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