November 16, 2024

The Booming Business of Rare Game Cards

Sports

The Booming Business of Rare Game Cards

By: Ray Zhao

Sports and Pokémon have long dominated the card collecting industry. But now, more games are entering the mix with rare cards that easily sell for six figures or more at auction.

Post Malone is helping create hype about rare cards in Magic: The Gathering. Known for smashing music-streaming records, the star bought a Magic card for a reported $2 million.

The card, which showed an image from the Lord of the Rings trilogy, was the first Magic card to fetch more than $1 million.

Ken Goldin is a sports memorabilia collector and an expert in the field. He says that this transaction is monumental. “It’s kind of like the first time a baseball card ever sold for a million dollars,” he said, noting that this is “serious business.”

This is one of many signs that the card trading industry is spreading into non-sports cards. Once dominated by baseball and later by Pokémon cards, the industry is now being forced to compete with enthusiastic Millennials willing to shell out a fortune for trading card games.

Game card authentication activity is also at an all-time high. Companies that check cards’ authenticity have been met with demand almost as high as that of sports card collectors. And the rage for game cards isn’t stopping soon. The release of new sets with rare cards and celebrity purchases have further fueled the excitement.

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