Kaj Leroy, widely known as Brad Punkhouse and a key developer in the XRP Ledger ecosystem, believes the Web3 gaming industry is on the cusp of a trading card game boom that will eventually attract venture capital funds and specialized exchange-traded funds. Leroy, creator of the first major NFT collection built on XRP, XPUNKs, said the sector is shifting toward hybrid products that bridge physical collectibles and blockchain rails while much of the crypto market is missing the trend.
According to Leroy, mass adoption requires tangible assets because "normies want something easy to understand that they can hold in their hands." Physical cards and real booster packs, he argued, create stronger long-term engagement and social bonds than passively watching PFP collection prices. He also noted that the complexity of building a blockchain-based trading card game acts as a natural defense against speculative projects, saying: "The hardest part isn't the art or the hype. It's building a game that's actually fun and actually works."
Leroy pointed to his own hybrid project, Fuzzycards, on the XRP Ledger, which has issued around 100,000 booster packs. In that model, NFT holders burned digital assets to receive physical cards, extending the concept beyond the XRP ecosystem. He cited Yuga Labs' launch of Mudwater cards on Solana, where each real pack in storage is tied to an NFT, as further evidence that the mechanic is becoming institutionalized. Leroy compared the current moment to the 1990s rise of Pokémon and predicted major brands such as Mario, Harry Potter, and Tolkien's Middle-earth will eventually move their trading card games onchain to control secondary markets. "Next comes TCG ETFs, hedge funds, VCs and much more. The market is about to get a lot bigger. We're early," he added.
