Artificial intelligence and Big Tech may dominate financial headlines, but another trend is capturing the wallets of Gen Z and millennial men: Pokémon cards.
Pokémon cards have soared in value by 3,261% over the past 20 years, according to data provided to Fortune from Card Ladder, a platform that tracks trading card prices. Even in the last year alone, the average Pokémon card rose nearly 46% — far outpacing the S&P 500's typical 12% annual return and even hot stocks like Nvidia Corp. (NASDAQ:NVDA).
From Childhood Nostalgia to High-Stakes Speculation
For many collectors, Pokémon and sports cards aren't just hobbies — they've become alternative investments.
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At the height of the 2021 card frenzy, companies like Walmart (NYSE:WMT) and Target (NYSE:TGT) temporarily limited or paused card sales, according to NBC News. "Pokémon has been a cornerstone of collecting on eBay for decades, and in 2024, we saw nearly 14,000 searches for ‘Pokémon' every hour," according to eBay Global Collectibles Vice President Adam Ireland.
YouTuber and influencer Logan Paul has helped stoke the trend, spending millions on rare cards and documenting his purchases for his massive online audience. In 2022, Paul broke the Guinness World Record for the most expensive Pokémon card sold privately: a $5.275 million Pikachu Illustrator card graded PSA 10.
“This card cost me more than my ranch. My 84-acre ranch," Paul said at the time.
A Hobby or a Hustle? Some Collectors Pay the Price
While some fans have flipped cards for profit, others have gotten burned. One caller into financial adviser Dave Ramsey's vodcast said he racked up $26,000 in credit card debt in four months — all spent on Pokémon cards behind his pregnant wife's back. "I messed up big," the caller admitted. "Trying to buy a bunch and sell them online, but it didn't work out."
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For others, card collecting is simply a nostalgic escape. "I think sometimes people want to break from the digital," PSA President Ryan Hoge told Fortune. He added that he owns tens of thousands of cards, mostly stored in his closet.
"Not only do you get to hold something in your hand, but you also get to interact with a community of like-minded people," he said.
Billions Flow Into the Trading Card Market
Pokémon isn't the only card franchise gaining momentum. Sports card sales generate more than $1 billion in annual revenue, according to SkyQuest Technology.
Retailers are responding to the surge. GameStop Corp. (NYSE:GME) said in its fiscal first-quarter results that collectibles — including trading cards — made up 29% of its total sales, surpassing video game software.
"We're focusing on trading cards as a natural extension of our existing business," GameStop CEO Ryan Cohen said during the company's annual shareholder meeting last month. "It appeals to our core customer base. And it's deeply embedded in physical retail."
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Collectibles Go Mainstream
Nearly 125,000 fans attended Fanatics' second annual trading card and collectibles convention in June, the company said. Fanatics, which owns trading card brand Topps, highlighted the pop culture crossover at the event, sharing a post of influencer Livvy Dunne buying a $2,850 card featuring her boyfriend, Major League Baseball pitcher Paul Skenes.
"With the explosion in demand, we're printing at maximum capacity to deliver the greatest amount of cards possible to fans for current expansions while ensuring we maintain quality standards," Pokémon Company International Vice President of Game Development Barry Sams told Fortune.
He added that those who grew up with Pokémon are now introducing it to their kids, often revisiting old card collections and sharing memories across generations.
From the White House to the Vatican: Everyone Wants In
Card collecting is drawing attention even outside traditional fandoms.
At this year's White House Easter Egg Roll, President Donald Trump was spotted with a graded card commemorating the assassination attempt against him last year. Meanwhile, Pope Leo XIV reportedly signed a Popplio Pokémon card for a young fan during a recent meeting.
Panini America Senior Vice President of Marketing & Athlete Relations Jason Howarth compared collectible cards to art. "It doesn't matter how old you are," he told Fortune. "When you get a pack of cards in your hand, the first thing you want to do is rip it open, and you hope that you're going to get that hot rookie, or you're going to get a player from your favorite team."
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Image: Imagn Images
