Card pack purchases of $2 billion—did investment returns increase too?…Crypto.com analyzes the effects of buyback reinvestment

Crypto.com reported that cumulative pack purchases on its on-chain collectibles platform reached roughly $2 billion as of October 2026, with the exchange arguing that a large share of that volume came from reinvested buyback proceeds rather than fresh capital or independent resale demand. The platform lets users acquire digital ownership of physical trading cards held in vaults through randomized "gacha" draws and pack-opening "rips." The distinction matters because headline trading volume can overstate organic demand and actual investor returns when buyback-funded repurchases are counted alongside new money. Crypto.com's buyback-and-reinvest mechanism is the key variable to watch, since the split between recycled and new capital will determine whether the $2 billion figure reflects genuine growth in the collectibles market.