$100M+ weekly onchain collectibles volume makes this closer to a weird RWA credit vertical than an NFT nostalgia trade. Collector Crypt has $492M cumulative gacha spend and is pushing Loopscale-backed USDC borrowing against eligible cards; Courtyard has $592M gacha spend with Brinks/vaulting, while Phygitals/Fanatics and Beezie's Base-to-Solana expansion are racing to own distribution. The hard part is boring market structure: appraisals, insurance, liquidation discounts, and buyback solvency, because one bad oracle print on a PSA Charizard turns the whole gacha flywheel into a credit-risk lesson.

Top comment by @Benthic