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Social media influencer Logan Paul purchases Pokémon card for $5.27 million! Sells fractional ownership through fragmented NFTs.

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Social media influencer Logan Paul purchases Pokémon card for $5.27 million! Sells fractional ownership through fragmented NFTs.

Renowned boxer and YouTuber Logan Paul wore a Pokémon card, the "Pokémon Illustrator," worth over five million dollars at the WrestleMania event in early April this year, attracting the attention of many Pokémon enthusiasts. In a video released last week, he documented the process of purchasing this card and announced the ownership of the card will be sold in the form of fractionalized NFTs, allowing community holders to collectively decide on the future use of the card.

World's Most Expensive Pokémon Card Transaction

The Pokémon card shown in the image below, known as the "Pokémon Illustrator," was the highlight of Logan Paul's appearance at the WrestleMania event.

To obtain this card, one had to win an excellence award in a submission contest held by Pokémon officials between 1997-1998. Initially, a total of 39 cards were distributed, later increased to 41 due to card competitions, all designed by Atsuko Nishida, the creator of Pikachu. However, there are only about 10 well-preserved cards available in the market today.

Nevertheless, the card held by Logan Paul is considered rarer compared to others of the same kind. After being authenticated by the PSA grading organization, it was classified as a PSA Grade 10, making it the only one of its kind in the world, both in terms of preservation and craftsmanship.

According to Logan Paul's video, the original owner of this card was an anonymous Pokémon card collector. Logan Paul spent $4 million to acquire this card, along with another Grade 9 card authenticated by PSA. In total, Logan Paul spent $5.275 million.

Following the WrestleMania event, this card transaction also received certification from the Guinness World Records as the highest private auction price for a Pokémon card in history.

Fragmentation of "Pokémon Illustrator"

At the end of the video, Logan Paul announced that he would list this card on the NFT (Non-Fungible Token) trading platform "Liquid Marketplace," co-founded by him, in the form of NFT. He is selling a 51% shared ownership of this card for $5 million, allowing the community of owners to collectively decide on the card's future use. The remaining 49% ownership will be retained by Logan Paul.

Note: After fragmentation, there are a total of 500 million tokens, with an individual price of $0.1.

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