Logan Paul sells PSA‑10 Pikachu Illustrator for $16.49M; renews NFT fractionalization lawsuit debate

Logan Paul sold a PSA‑10 ’Pikachu Illustrator’ Pokémon card at auction for $16,492,000 on Feb 16, 2026, setting a record for the most expensive trading card sale (Guinness‑certified). Paul purchased the card in July 2021 for $5.3M and, after auction fees, nets roughly $8M. The winning bidder was AJ Scaramucci. The sale has reignited scrutiny of Paul’s 2022 experiment in NFT fractionalization via Liquid Marketplace (LMP). LMP tokenized and sold fractional claims representing roughly 5.4% of the card (investors paid about $270k), but the platform later went offline. The Ontario Securities Commission says LMP raised about $2.7M and made misleading ownership claims; Paul is not named as a defendant and says he personally restored withdrawals when problems arose. Critics describe the case as an example of “slop tokenization” — tokens linked to assets without legal ownership rights. The story recalls Paul’s earlier CryptoZoo NFT controversy and other underperforming NFTs he held. The physical card’s high sale contrasts with a prolonged NFT market downturn: NFT market cap has plunged since 2022 (from ~ $17B peak to around $1.55B), many platforms have wound down, and blue‑chip floor prices remain materially lower. For crypto traders, the event highlights sustained collector demand for rare physical collectibles, while underscoring legal, custody and liquidity risks tied to fractionalized NFTs and celebrity‑backed projects. Traders should monitor volatility in NFT‑linked tokens and marketplaces, regulatory scrutiny of tokenized ownership, and liquidity on fractional platforms — factors that can drive short‑term price swings and long‑term sector fragility.