How do Pokemon card ripping apps use buybacks, according to Shaan Puri?

Shaan Puri explains that card-ripping apps let collectors open digital packs of real cards on their phone. If a $50 pack holds nothing good, the app offers to buy it back on the spot for about $43 in store credit, so the buyer feels only $7 down and tends to try again. The company keeps the margin and returns the card to the pool to sell again, which Puri calls the genius of the model.

• Puri says one such app did about $1 billion in revenue in a year.
• He says Collectors Crypt went from about $50,000 a month to $25 million a month, and later cites on-chain data showing $100 million a month.
• Logan Paul has launched a rival app called Rip It, per Puri.

Source: our own transcription of the episode. The full conversation is on My First Million (2026-11-04). Read the whole episode summary →

▸More from this episode