> For the complete documentation index, see [llms.txt](https://hypergacha.gitbook.io/hypergacha-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hypergacha.gitbook.io/hypergacha-docs/hypergacha.md).

# HyperGacha

HyperGacha is the liquid, composable onchain market for real-world collectibles.

Collect, own, trade and redeem authenticated collectibles with instant onchain liquidity.

Built on HyperEVM.

## HyperGacha Overview

Collectibles are coming to the house of all finance.

HyperGacha brings real-world collectibles e.g. Pokémon cards into a market built for price discovery, liquidity and composability. Users can open packs, collect, get instant liquidity and redeem their physical collectibles onchain instead of waiting for a buyer in a slow marketplace such as eBay.

Ultimately, HyperGacha will bring new assets, new users and new transaction flow into the Hyperliquid ecosystem.

## What HyperGacha Does

HyperGacha lets users:

* Open packs with collectibles
* Own authenticated real-world assets
* Trade instantly onchain
* Redeem physical collectibles
* Instantly access real liquidity instead of waiting for OTC buyers

## Why Hyperliquid

Hyperliquid is the home for onchain finance. And we believe that collectibles will play a strong part in this.

It has the liquidity, culture and user base required for new financial asset categories to emerge. HyperEVM gives builders a platform to create applications that plug into the broader Hyperliquid ecosystem.

Today, Hyperliquid has deep trading activity across crypto-native markets. What it does not yet have is a native collectible asset layer.

HyperGacha can become that layer.

Trading cards and real-world collectibles already have massive offchain demand, established price history and strong cultural relevance. But they remain trapped in fragmented, slow and trust-heavy marketplaces.

HyperGacha brings those assets to HyperEVM.

If Hyperliquid is the house of all finance, then collectibles and trading cards should trade there too.

Hyperliquid.

## The HyperGacha Thesis

Collectibles are evolving from hobby markets into financial markets.

Trading cards, Pokémon cards and other real-world collectibles are no longer just items people buy, hold and display. They are increasingly treated as scarce, culturally relevant assets with real market value.

But the market structure has not caught up.

Buying and selling collectibles today is still slow, fragmented and trust-heavy. Users deal with scattered marketplaces, delayed settlement, fake listings, unclear pricing, custody risk, grading uncertainty and poor exit liquidity.

For collectors, that friction is annoying.

For traders, builders and capital allocators, it makes the category difficult to scale.

HyperGacha fixes this on the HyperEVM.

Hyperliquid.

## Core Features

### Gacha Drops

Open packs to collect real authenticated collectibles. We’re starting with Pokémon cards, then much more…

### Onchain Ownership

Collectibles can be represented onchain, tracked, traded and redeemed for the physical version.

### Instant Liquidity

Users can trade into or out of collectible exposure without relying only on slow peer-to-peer marketplaces.

### Physical Redemption

Users can redeem collectibles for the real physical item.

## How It Works

{% stepper %}
{% step %}

### Connect

Connect a HyperEVM compatible wallet.
{% endstep %}

{% step %}

### Open Packs

Enter live collectible drops and open packs.
{% endstep %}

{% step %}

### Own

Receive ownership of the collectible onchain.
{% endstep %}

{% step %}

### Trade

Instantly sell, buy or build a position through the HyperGacha market.
{% endstep %}

{% step %}

### Redeem

Redeem eligible assets for the physical collectible if you would like.
{% endstep %}
{% endstepper %}

## Risks and Standards

* Collectibles must be real and authentic.
* Grades must be accurate.
* Custody must be secure. We will use industry standard vaults.
* Redemption of the collectible must work efficiently.
* Smart contracts must be secure.
* $HYPE buybacks with % of revenue from fees must be clear and transparent.


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