Behind the $15 million Renaiss collectible exhibition: Building RWA infrastructure for collectibles on BNB Chain

On February 12, during the Hong Kong Consensus 2026 conference, a special exhibition focusing on high-end physical collectibles was held in an atmosphere of industry exchange. This was a privately invited exhibition event that brought together selected collectors and partners to create an immersive collecting experience.

Inside the exhibition hall, various themed sections displayed high-rated rare trading cards and cultural collectibles authenticated by professional institutions, ranging from Pokémon trading cards to top sports star cards, classic comic book originals, retro game consoles and cartridges, K-POP idol collectibles, and representative magazines, forming a cross-category physical collectibles matrix.

In the sports collectibles section, a group of glass display cases stood out. Inside the cases were several rare Logoman patch cards of NBA legends, including Kobe Bryant, Stephen Curry, LeBron James, and Michael Jordan.

According to the organizers, some of the collectibles are unique 1/1 versions, with individual reference values ranging from $1 million to $3 million. For example, one of the displayed LeBron James rookie patch autos comes from Upper Deck's inaugural Exquisite high-end product line launched in 2003. Exquisite broke traditional pricing logic in the trading card market with its extremely high pricing and is seen as a significant milestone in pushing trading cards into the luxury collectibles realm, with the market valuation of this card estimated at around $1 million.

2003-04 Upper Deck Exquisite LeBron James Rookie Patch Auto (RPA) #78/99 on display

On the other side of the exhibition area, the Pokémon trading card display case also attracted many visitors. Each displayed card was equipped with a dedicated QR code, allowing on-site visitors to scan and instantly access the corresponding card's on-chain information on the BNB Chain, including ownership records, asset sources, custody status, and historical circulation information. All exhibited Pokémon trading cards were authenticated, verified, custodied, and put on-chain through the third-party custody layer infrastructure of Renaiss Network Vault OS, achieving synchronization between physical assets and on-chain data.

Display of authenticated Pokémon trading cards

According to the organizers, this exhibition was jointly organized by Renaiss Protocol, a leading project in the BNB ecosystem collectibles sector, and its sub-brand Renaiss Collectibles, in collaboration with event partner Event3, along with well-known collectible card stores LOGOMAN and YAMACARDO. The total estimated value of the exhibited collectibles exceeded $15 million, making it a rare large-scale high-specification physical collectibles exhibition in recent industry events.

On-Chain Liquidity Infrastructure for Physical Collectibles

Behind the high-rated Pokémon trading cards displayed on-site is a set of infrastructure systems built around authentication, custody, and on-chain circulation records.

Renaiss has deeply vertically integrated with globally renowned card stores to become ecological nodes. Each authenticated Pokémon trading card displayed has gone through a standardized physical-to-on-chain process. The authentication and verification stages are completed by third-party professional institutions, including LegitApp and staff from partner card stores, along with on-chain signing confirmations; physical assets are then received, scanned, and minted by recognized distributed third-party custodians or vaults through Renaiss Network Vault OS. Key data such as authentication results, rating information, custody entities, and asset status are written into the smart contract layer, forming a strong correlation between on-chain data and off-chain physical items.

Through this process, physical collectibles establish a real and traceable asset record before entering the circulation system, providing a transparent foundation for subsequent transactions and circulation.

Circulation Upgrade Window for the Collectibles Market

In recent years, the global physical collectibles market has remained active. Especially in the trading card game (TCG) sector, stable trading systems have formed in multiple countries and regions, with high-end card transaction prices continuously breaking records.

On February 16, Logan Paul's Pikachu Illustrator card sold for nearly $16.5 million, becoming the highest-priced single card on public record. According to industry data, the global TCG market is estimated to be around $8.4 billion by 2025 and is expected to reach $11.6 billion by 2030. As the market expands, high-value physical assets are gradually entering a more specialized and scaled phase.

In this context, the importance of transparent and verifiable custody and standardized circulation mechanisms is continuously rising. High-value collectibles involve cross-regional transactions and long-term preservation, with asset authenticity verification, ownership records, rating information, and historical circulation paths becoming core elements of concern for both buyers and sellers. Meanwhile, physical assets still face objective physical frictions in transportation, storage, and delivery, including delivery cycles, warehousing management, cross-border circulation, and insurance arrangements.

The traditional offline trading system incurs costs in information synchronization and trust transmission, coupled with the operational complexity during physical circulation, which limits the trading efficiency of high-value collectibles. The market's demand for queryable verification, traceable digital records, and more efficient circulation collaboration mechanisms is gradually increasing.

Blockchain technology has begun to meet this demand. Through on-chain records and smart contract mechanisms, physical assets can form verifiable records and provide a data foundation for subsequent circulation. Collectibles, as an asset type with cultural attributes and community foundations, are becoming one of the important scenarios for the on-chain practice of physical assets.

RWA Practices for Collectibles on the BNB Chain

During the exhibition, Renaiss CEO Winchman also shared his understanding of the integration of collectibles and blockchain. He pointed out that blockchain is the optimal solution for the collectibles industry. In physical collectibles transactions, the credibility of custody, pricing standards, and liquidity organization methods are always core issues. Blockchain provides the technical foundation for the global circulation of collectibles and brings new possibilities for asset status transparency.

Winchman stated that Renaiss chose to enter the RWA track from the collectibles angle due to long-term observations of the friction in the circulation of physical assets. The team hopes to eliminate the friction in physical collectibles transactions through standardized custody structures and on-chain record mechanisms, building infrastructure for the financialization of collectibles.

In terms of specific progress, since its launch on the BNB Chain in November 2025, Renaiss has completed the Alpha and Closed Beta phases, with the Open Beta currently undergoing continuous iteration. On the application side, since the public test in December 2025, multiple rounds of card pack sales have quickly sold out; Gacha V1 transaction volume reached $1.37 million, and secondary market transaction volume reached $962,000; the ecological project collectibles on-chain credit social protocol REFS has begun early priority testing.

On the eve of the exhibition, the platform also reached a phased milestone. Its 24-hour limited Gacha V2 Beta transaction volume exceeded $700,000, with cumulative transaction volume exceeding $3 million within three months of launch. Relevant data is seen as a phased signal of the gradual formation of liquidity for on-chain physical collectibles.

During the event, Winchman also exchanged ideas with Walter, the business development head of BNB Chain, regarding ecological development. Walter shared BNB Chain's focus on AI, stablecoins, RWA, and other tracks, as well as ongoing support for long-term builders. He also mentioned that the visibility of collectibles within the BNB Chain ecosystem is increasing and discussed his personal emotional connection to Pokémon cards.

The Cultural Dimension of Everything on Chain

As blockchain applications gradually extend into the non-financial asset realm, physical collectibles with strong cultural attributes, community foundations, and real value are being viewed as an important component of the tokenized real-world asset (RWA) ecosystem. Compared to traditional financial assets, collectibles carry emotional recognition and cultural memory, and their on-chain circulation practices provide a tangible experimental scenario for non-financial RWA.

In this trend, the verifiable custody, pricing mechanisms, liquidity structures, and market transparency of physical collectibles continue to be focal points of industry attention. The BNB Chain ecosystem is also accommodating more forms of cultural assets, providing a foundational environment for exploring the on-chain integration of physical assets.

Renaiss stated that it will continue to promote the construction of on-chain liquidity infrastructure for physical collectibles, deepen collaboration with the global collecting community and ecological partners, and further improve the circulation methods of collectibles in the digital age.