Logan Paul’s Pikachu Illustrator Fetches $16.5 Million, Setting a New Record Amid Ongoing NFT Controversy
February 17, 2026 – CryptoNews Wire
YouTube personality Logan Paul has become the latest figure to make headlines in the collectibles world after a PSA‑graded Pikachu Illustrator card sold for $16.49 million at a Goldin & Co. auction on Monday. The transaction, verified by Guinness World Records, marks the highest price ever paid for a single Pokémon card and generated an estimated $8 million profit for Paul after auction fees.
Record‑breaking Sale Details
The Pikachu Illustrator is one of just 39 copies produced for a 1990s illustration contest, making it one of the most coveted items in the trading‑card market. The winning bidder was AJ Scaramucci, son of former Wall Street financier Anthony Scaramucci, who outbid several other parties that had presented offers in the seven‑ and eight‑figure range.
Paul originally acquired the card in July 2021 for $5.3 million, a purchase that now appears to have more than doubled in value. The sale was conducted through Goldin & Co., a leading auction house for high‑end collectibles, and the final hammer price was recorded at $16,492,000.
Backlash Over Earlier Fractional Ownership Scheme
The headline‑making auction, however, has revived criticism of Paul’s 2022 attempt to tokenize the card on the now‑defunct Liquid Marketplace. In that venture, roughly 5.4 % of the physical card was divided into digital tokens that investors could purchase for about $270,000 each. The platform shut down later that year, leaving token holders unable to claim their shares and prompting a lawsuit filed by the Ontario Securities Commission in June 2024.
Legal commentator Gabriel Shapiro, general counsel at Delphi Labs, described the episode as a classic case of “slop tokenization,” arguing that the tokens offered no real ownership rights. In a recent post on X, Paul defended his actions, stating that the marketplace’s failure was beyond his control and that he subsequently funded the restoration of the site so users could withdraw their funds.
A Pattern of NFT Missteps
The fractionalization dispute joins a series of high‑profile NFT controversies surrounding Paul. His CryptoZoo project, launched in 2022 as a play‑to‑earn game, failed to deliver promised gameplay and attracted a class‑action suit in 2023. Paul later instituted a buy‑back program and reimbursed investors after they waived further claims; the lawsuit was dismissed in 2025.
Other digital asset investments have also underperformed. An anime‑style avatar from the 0N1 Force collection, purchased for roughly $635,000 in 2021, is now valued at under $2,000, underscoring the volatility and speculative nature of the NFT space.
NFT Market Context
Paul’s record‑setting physical card sale comes at a time when the broader NFT market is contracting. After a modest rally in early 2026, the total market capitalization of NFTs has fallen by more than 50 %—from $3.2 billion in early January to about $1.55 billion according to CoinGecko data. The decline follows a string of high‑profile platform closures, including Rodeo and Nifty Gateway, which announced wind‑downs in late January.
Industry observers note that while rare physical collectibles can still command extraordinary prices, digital token markets are experiencing a pullback as investor confidence wanes.
Key Takeaways
- Historic Sale: The PSA‑10 Pikachu Illustrator card sold for $16.49 million, establishing a new benchmark for Pokémon card valuations.
- Profit for Paul: Logan Paul’s purchase price of $5.3 million translates to an estimated $8 million profit after fees.
- Legal Scrutiny: The earlier fractionalization of the card on Liquid Marketplace remains under investigation by Canadian regulators, with a hearing slated for June.
- Repeated NFT Issues: Paul’s track record with NFTs—including the failed CryptoZoo project and other depreciating digital assets—highlights the risks associated with tokenized collectibles.
- Market Downturn: The NFT sector’s market cap has halved in the first quarter of 2026, reflecting broader skepticism and recent platform shutdowns.
The sale illustrates the divergent trajectories of physical rarity versus digital token ventures. While Paul enjoys a landmark achievement in the traditional collectibles arena, the lingering legal challenges and a cooling NFT market serve as a reminder that not all tokenized assets share the same upside.
Source: https://cointelegraph.com/news/logan-paul-sells-pokemon-card-record-16-million?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
