Okay.

Like, you know, I'll say the big ones, like, you know, GameStop power packs and Arena Club and Courtyard and some of these guys, right? Those platforms all have this more, you know, no positive expected value.

They have a pretty, you know, significant haircut on buyback.

And, you know, what we see in the data is that the users who are genuine collectors, they don't really feel that they're getting... much value out of that, right? And so they go and they might participate on that platform for a little bit and they say, wow, you know, I should just buy cards at the card show.

You know, this isn't the best way for me to collect.

But they do enjoy the thrill of opening packs, right? And then that's where these users come and start exploring platforms like ours because they can have their cake and eat it too, right? They can come in, they can sell back a bunch of cards and they can then finally filter through the card they want to keep And then they say, wow, you know, I had a great time.

I opened up 10 packs and I got this one card and I'm actually not down that much.

But what does having a token allow you to do? Or why have a token at this point in the business?

Mm-hmm.

So they, you have a bunch of really big, you know, giants out there floating, and you know, they're kind of like supporting each other and shaking hands, while at the same time, they're trying to stab each other in the back.

And so it's a very interesting thing from my perspective to kind of see happen.

And what we are doing is we're trying to build a novel kind of infrastructure and a novel ecosystem to say, you know, "Hey guys, take a look at this.

Maybe this is a way to solve a lot of these kind of issues that you guys are fighting over here.

And, uh, you know, we could get to a place where we're all able to transact and interact on the same level." Which, which I think it would be a brilliant future because that's gonna put the, uh, the people who are buying and selling trading cards as the most important piece.

Yeah

...

So why did you guys launch the token? And why did you launch it when you launched it?

So we have this concept, you know, one thing that would be really cool, like I talked to a lot of high net worth people and family offices and I talked to them about trading cards and they're like, yeah, you know, trading cards have done extremely well, like 20 to 25 percent annualized compound rate of return for the last, you know, however, 25 years.

They've beaten out pretty much every single asset class except the, you know, the crypto blue chips.

And the question is, well, hey, okay, I have $500 million.

How do I get $5 million worth of exposure to trading cards? And there's really no good way to do it.

Sure, you could go to auction and buy one really good card.

But that's not really exposure to a diversified asset class, right? So what do you do? You give your nephew $5 million and say, hey, go buy a bunch of Pokemon on eBay.

And so what is your take on this? Like, is this niche and just for crypto people or is this gotcha concept going to be your catalyst to like really crack into the mainstream?