Market Overview & Growth - Pokemon TCG RWA on Solana is gaining traction, with over $64 million in revenue and $95 million in total volume [1] - Gacha systems drive revenue, with over $50 million spent across the sector [2] - Secondary marketplace activity is growing, recording volumes up to $440 thousand [3] Key Players & Revenue - Collector Crypt leads with over $12 million/month in gross revenue, net of buybacks [1] - Collector Crypt's Gacha sees $495 million+ spent by 3004 unique wallets, averaging $165 thousand/user [1] - Newer entrants like TCG Emporium and Phygitals generated $163 thousand and $665 thousand respectively from gacha spending [2] Business Model & Features - Gacha systems resemble IRL oripas, offering instant buyback at 80-85% of card value [3] - Platforms offer attractive chases to boost engagement [3] Potential & Challenges - Tokenization of TCGs like Pokemon shows potential market fit, with high user spending despite low DAU [5] - Tokenization could solve problems like fragmented liquidity, fraud, and high marketplace fees [5]