"IOSG: From Gacha to Derivatives - An 8 Billion USD TCG Investment Map" (Author Max Wang) Currently, the TCG market can be divided into off-chain TCG experiences and on-chain + digital TCG experiences. Both have different participants. The non-chain market is more mature, but the on-chain digital TCG environment is also rapidly gaining popularity; among best-selling products, the effective price is determined by the liquidation price in the gray market, not by the official retail price of Pokémon, which puts enormous upward pressure on prices across the entire TCG industry. Most off-chain TCG values remain in slow, high-friction forms: physical collectibles or sealed booster packs stored in warehouses. Selling usually involves listing on eBay, fees, and several weeks of delay, whereas on-chain card management and custody platforms transform this into instant, programmable liquidity. Read more: