What Boxed does

Boxed is a digital collectibles platform operated by Loot Labs Inc. that enables users to virtually open boxes containing trading cards from Pokémon, Magic: The Gathering, One Piece, Sports Cards, and Counter-Strike 2, with the option to withdraw pulled cards as physical items shipped worldwide. The platform targets trading card game (TCG) collectors, gaming and collectibles hobbyists, and budget-conscious collectors seeking transparency and reduced entry costs into the collecting hobby. Headquartered in Seattle, WA, the company launched in May 2023 after securing $1.5M in pre-seed funding led by BITKRAFT Ventures, and has since accumulated hundreds of thousands of registered users who have collectively opened over 30 million boxes.

The platform is built on a Web3-based infrastructure incorporating NFT and digital collectible primitives. Its differentiating technical components include a Provably Fair System for box transparency, a Spice Meter that displays per-card drop rates, and a Luckback Rewards System that compensates users with shards when pulls underperform gem costs. Additional platform architecture supports real-time PvP battles with multiple game modes (Crazy, Shared, Group Unboxing, Terminal), a community-driven box creation tool (Forge), and a vending machine system offering tiered pulls ranging from 2,500 to 500,000 gems across more than 250 cards with full drop-table visibility. A 50,000+ card physical inventory is maintained for withdrawal fulfillment, shipped double-sleeved and top-loaded.

Boxed operates a product-led growth motion anchored by a freemium entry point—new users receive a free box upon sign-up—with monetization built around a virtual gem currency. Revenue streams include gem purchases, usage-based box openings and vending machine pulls (tiered from Starter at 2,500 gems to Premium at 500,000 gems), four subscription tiers (PLUS, PRO, ULTIMATE, FOUNDER) offering 3–6% XP bonuses, time-bound XP boosts (25–100% over 1–24 hour durations), and physical card shipping fees (~$5 domestic, $10 international). A secondary revenue stream is derived from affiliate and mission partnerships with advertisers such as Raid Shadow Legends, SoFi, and Bingo Blitz, where users earn gems by completing ad-based tasks via the RevU network.

Name

Boxed

Legal name

Loot Labs Inc.

Website

https://boxed.gg

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Boxed (Loot Labs Inc.) is a digital collectibles platform enabling users to virtually open boxes containing Pokémon, Magic: The Gathering, One Piece, and sports trading cards, with optional physical card redemption shipped worldwide.

Ownership category

akta.pro rank

Product category

Digital Collectibles Platform

NAICS

Hobby, Toy, and Game Retailers (45912), Securities and Commodity Exchanges (523210)

SIC

Retail-Hobby, Toy & Game Shops (5945), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Trading Cards & Collectibles NFT Marketplaces (FSADANAI)

akta.pro secondary industries

Sports NFTs & Collectibles Marketplaces (FSADANAH), Digital Game Marketplaces & Item Economies (NFT/Skins/Trading) (BPAMAKAJ)

Keywords

• Digital collectibles platform
• Trading card games
• Loot box mechanics
• NFT collectibles marketplace
• Physical card delivery

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Supply Chain, Operations, Marketing or Sales, Personnel

Revenue model

1. Gem Purchases: Users purchase gems using real currency to open boxes, use vending machines, and participate in battles. Gems are the primary virtual currency used across all platform activities.
2. Box Opening Fees: Each box opening requires gem expenditure, generating revenue based on the virtual currency spent by users.
3. Vending Machine Pulls: Users spend gems to pull from vending machines, with tiered pricing from 2,500 gems (Starter) to 500,000 gems (Elite tiers).
4. Subscription Tiers: Four subscription tiers (PLUS, PRO, ULTIMATE, FOUNDER) provide XP bonuses ranging from 3% to 6%, offering recurring subscription revenue.
5. XP Boost Purchases: Users can purchase XP boosts (25%, 50%, 100%) in 1-hour or 24-hour durations to level up faster and unlock more daily reward boxes.
6. Physical Card Shipping: When users withdraw cards from their inventory, physical cards are shipped with shipping fees of ~$5 within USA and $10 internationally.
7. Affiliate/Mission Revenue: The platform earns revenue through affiliate partnerships with advertisers like Raid Shadow Legends, SoFi, Bingo Blitz, and others shown as ads to earn gems.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Boxed operates a Web3-based loot box platform where users purchase virtual currency (gems) to virtually open digital boxes containing trading cards from Pokémon, Magic: The Gathering, One Piece, Sports Cards, and Counter-Strike 2, with the ability to withdraw pulled cards as real, mint-condition physical cards shipped directly to their home. The platform also features PvP box-opening battles, a 250+ card vending machine, and a Forge tool that lets users create their own community boxes.

Product overview

Boxed is a digital collectibles platform offering multiple ways to acquire trading cards. The core products include Boxes (digital box opening with real card rewards), Battles (PvP box-opening competitions), Vending Machine (guaranteed pulls of authenticated slabs or near-mint singles), and Forge (community box creation). Additional features support the core experience through Level Rewards (progression and free boxes), Luckback (loss protection via shard compensation), Gem Missions (task-based rewards), Marketplace (trading), Polls, Leaderboard, Hop or Drop mini-game, and TCG World Cup events. The platform focuses on Pokémon, Magic: The Gathering, One Piece, Sports Cards, and Counter-Strike 2 collectibles, with physical cards shipped to users who withdraw their virtual pulls.

Differentiator

Problem solved

Functional benefit

Products and services

• Boxes Digital box-opening experience where users spend gems to virtually open boxes containing trading cards across multiple TCG categories; pulled cards can be withdrawn as real, mint-condition physical cards delivered to the user's home.
• Battles Player-vs-Player (PvP) box-opening competition where users battle each other using gem stakes across multiple game modes including Crazy Mode (loser takes all), Shared Mode (players share pulls), Group Unboxing (open boxes together with friends), and Terminal Mode (final round determines winners).
• Vending Machine On-demand vending machine offering 250+ cards with tiered pricing from 2,500 gems (Starter) to 500,000 gems (Premium). Every pull guarantees an authenticated slab or Near Mint Single, with full drop-table visibility including drop rates, gem values, and every potential card before pulling.
• Forge Community feature that allows users to create and publish their own custom boxes for the platform, enabling community-generated content and themed box experiences that other users can open.
• Marketplace In-platform peer-to-peer marketplace where users can trade, buy, and sell cards and collectibles within the Boxed ecosystem using earned gems and items.
• Hop or Drop BETA mini-game where users jump for loot, adding gamification variety to the platform beyond traditional box opening.
• Subscription Plans (PLUS, PRO, ULTIMATE, FOUNDER) Four monthly subscription tiers (PLUS 3%, PRO 4%, ULTIMATE 5%, FOUNDER 6%) that provide XP bonuses when opening boxes, vending machines, or battling.

Quantifiable outcome

• Over 30 million boxes opened by hundreds of thousands of registered users

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Loot Labs Inc.coreStrategic or Co-development PartnerLoot Labs Inc. is the creator and parent company behind Boxed. The platform is described as 'powered by Loot Labs Inc. 2026'. Loot Labs envisions BOXED.GG as a hub for the collectibles hobby.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sorare: Sorare operates a digital sports collectibles marketplace where users buy, trade, and play with officially licensed NFT player cards—sharing Boxed's model of monetizing digital scarcity around real-world sports/collectible IP, although Sorare focuses on soccer rather than TCG.
• NBA Top Shot (Dapper Labs): NBA Top Shot is a licensed digital sports collectibles marketplace offering pack-style 'moments' drops with provable scarcity—the closest analog to Boxed's boxes/vending machines and a key benchmark for digital TCG-adjacent collectibles.
• TCGplayer: TCGplayer (eBay-owned) is the dominant U.S. marketplace for Pokemon, MTG, and other TCG singles and sealed product—the offline reference customer and supply partner for Boxed, competing for the same TCG collector wallet with established logistics.
• Candy Digital: Candy Digital is a digital sports and entertainment collectibles platform that pioneered licensed NFT drops—a closely comparable business model using officially licensed sports IP sold via digital pack/box mechanics.
• Rally: Rally operates a regulated marketplace for fractional ownership of rare physical collectibles (trading cards, sports memorabilia, watches), bridging digital tokenization with verified physical assets—directly analogous to Boxed's hybrid digital-plus-physical mechanic.
• Fanatics Collect: Fanatics Collect is the digital sports cards and memorabilia platform of Fanatics, offering authenticated trading card digital ownership. It is also a Boxed content/supply partner (Fanatics Collect), making it both peer and counterparty.

Broad incumbents

• StockX: StockX operates a marketplace for authenticated sneakers, trading cards, and collectibles with bid/ask dynamics. It competes for the same collector-spending wallet and has launched trading card vertical expansion overlapping with Boxed.
• OpenSea: OpenSea is the largest general NFT marketplace; while it does not focus on TCG, it is the default venue for trading digital collectibles and represents the dominant Web3 platform where Boxed's NFT-based items could be resold or where competing listings could emerge.
• Magic Eden: Magic Eden is a leading NFT marketplace with explicit gaming focus (Bitcoin Ordinals, Solana, gaming item economies), making it a primary Web3 destination for the digital item/loot box category Boxed operates in.
• Goldin: Goldin is a major auction house and marketplace for high-end sports trading cards and memorabilia. It serves the upper-end of the sports card collector base that Boxed's vending machines and premium tiers compete for.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/heyboxed

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boxed