After Prime Hydration and Lunchly, WWE star Logan Paul has found a new business venture to rake in cash. The 30-year-old went live on YouTube on Sunday, where he opened $1,500,000 worth of 1st Edition Pokémon Box and a Legendary Collection Box live on stream. However, he also had an announcement to make. 

“JUST IN: @LoganPaul announces new breaking company called RipIt,” Darren Rovell revealed on X.

Logan Paul, who has poured millions into Pokémon cards over the years, officially launched RipIt — a trading card breaking platform focused on Pokémon cards. The service allows users to buy into packs or boxes for a chance at landing valuable pulls. For now, access appears limited, as the official website is inviting users to sign up for early access.

The announcement came shortly after ‘The Maverick’ teased on X that he would be parting ways with his prized Pikachu Illustrator card, which went to auction and concluded on February 15. Paul originally purchased the ultra-rare card in 2021 for a staggering $5 million. During the livestream, he revealed that bidding for the card had surpassed an eye-watering $15 million.

“$15,113,120 – ABSOLUTE MADNESS HERE AT GOLDIN AUCTIONS,” he posted on Instagram, alongside a short clip from the livestream announcing the same.

News served to you like never before!

Prefer us on Google, To get latest news on feed

Prefer Us on Google

The Pikachu Illustrator card is one of the rarest Pokémon cards ever produced, with some reports suggesting as few as 40 copies exist. Rather than being sold commercially, the cards were awarded to winners of the Pokémon Card Game Illustrator Contest in the late 1990s. Paul had previously floated the idea of selling the card, but never pulled the trigger—until now.

The sale was facilitated by Ken Goldin, who appeared on the King of Collectibles: The Goldin Touch. Goldin encouraged Paul to consign the card through Goldin Auctions, reportedly paying him a $2.5 million advance. The result was what became the biggest Pokémon and trading card game auction ever. Paul had famously showcased the card during his WWE appearances, even wearing it as part of a diamond-encrusted necklace to the ring.

Coming back to his new breaking company, though, when fans learned about it, let’s just say they weren’t the biggest fans. 

Logan Paul branded ‘breaker with a questionable past’

People were skeptical of Paul’s venture from the beginning. One user lamented the launch. “Great… just what we need.. another breaking company with celebrity/brand ties.. There goes your chance to get a life-changing Pokémon card..,” the user noted. The Pokémon trading card scene is already competitive, with the best card priced at eye-watering prices. 

Meanwhile, the next user threw shade at Paul’s new company. “What do we need to pay to own a % of it, I want to achieve zero return on investment,” the user commented. Paul’s other ventures, including crypto, haven’t been performing all too well.

The next user refused to trust Paul’s company. “Exactly what we need. Another breaker with a questionable past,” the user wrote. In early 2023, a class-action lawsuit was filed against Logan Paul and other co-founders in the U.S. District Court for the Western District of Texas.

Someone else lamented about Paul’s new venture. “I hate breakers…. Ruining the hobby. There are thousands like me that can’t pre-order a box because @Topps gives breakers getting at least 75% of the allocation each release.  @Fanatics @michaelrubin has ruined the card hobby….,” the user wrote. This means regular people will struggle even more to get their hands on such cards, unless they purchase from these companies. 

Another user criticized the rising costs in the hobby, suggesting Pokémon cards have become a money pit. “I’m glad I rarely break anymore. Hobby has gone off the rails. I used to think $50 random team NT case breaks were high. How much $$ is enough?” the user asked. The comment highlights growing concerns that, despite the hype, traditional investments remain the safer option.

It appears RipIt from Logan Paul has a lot of trust-building to do among fans. For now, caution appears to be the sentiment among people. But what do you think about Paul’s new venture?