Gachapon on the blockchain is already a hundred-million dollar market
The article discusses the emergence of Gachapon-like platforms on the blockchain, which have rapidly gained popularity in recent months. Gachapon machines, popular in Japan, offer randomized collectibles, similar to the NFT models being adopted by various platforms. Spending on these Gachapon-style platforms, such as Courtyard and Collector Crypt, surged from $10.4 million in January to $61.1 million by August. The platforms tokenize collectible cards as NFTs and sell them as randomized items for stablecoins, with options for users to sell, trade, or redeem physical cards. Notably, a small percentage of users contribute heavily to total revenues, indicating a whale-like economic model. Research suggests a gap in trust due to the lack of verifiable randomness in card assignments, which could be enhanced with technological solutions. Nonetheless, the appeal of Gachapon continues to attract a blend of collectors and speculators, enhancing the market's financial aspects and drawing in crypto entrepreneurs.
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