Categories
NFT Sports

Now Is a Good Time to Start Practicing Patience with NBA Top Shot

It’s OK to go fishing.

That’s what Jack Settleman, noted NFT enthusiast and contributor to this very website, said last weekend when discussing the state of NBA Top Shot on a YouTube livestream.

Settleman’s statement crystallized a lot of what I’ve been feeling about a platform that has had a rapid rise, and is now creating frustration, confusion even, from a lot of its users. 

FUD is high for Top Shot, with optimists pointing to the NBA Playoffs—still a long five weeks away—as a near term opportunity for another exciting time in the marketplace.

But despite the negativity, this is a community, an ecosystem, that’s still engaged. Really, really engaged.

In the month of March, when “undercutting” rose to prominence and many moment’s lowest-asks cratered 50% or more, contributing to a decreasing overall marketcap, new users continued to come in and explore the platform. While many may have been relying on pack drops and not investing through the marketplace, all indications remain that when registration is open, new users will continue to sign up at an impressive pace.

Even further, existing users didn’t let up on their overall engagement.

Top Shot has spawned an incredible ecosystem. With much of its transaction data and activity publicly accessible, and its entire premise built on an entirely new way to express your NBA fandom, moonlighting podcasters and data analysts have given way to and endless amount of resources and information to speculate and discuss what’s going on with Top Shot—every minute of every day. 

The frenzy has been unrelenting.

In fact, since December, daily user sessions and average session time on NBATopShot.com outpaced that of two prominent investment platforms, Fidelity.com and Schwab.com, according to SEMRush.com. Yes that’s right, people are probably checking their Top Shot collection value and the marketplace more frequently than their equities portfolio, the latter of which is quite literally a window into what makes our world go around.

Websites like MomentRanks.com and LiveToken.co, new staples in the Top Shot ecosystem, are still too new to obtain reliable data, but you can probably assume they’d further confirm how frequently the Top Shot community is checking in and feeling a forced need to take action themselves, whether they really need to or not.

https://www.semrush.com/
SEM Rush

It’s all great as an indicator for future growth and success, but it asks the question if the amount of consumption is necessary, or even wildly unhealthy?

If you enter a new position on a stock, set up your dollar cost average strategy on Bitcoin, or buy a sought after Ja Morant rookie card, it’s very unlikely you are looking at their value incessantly (unless you day trade), with the intent to flip or, in the case of what’s happening too often in the Top Shot Marketplace with very little justification, panic selling for an immediate loss or small gain due to fear and impatience. 

The speed and immediacy inherent to Top Shot certainly can be a good thing, but it’s brought with it a contagious reflex that if something exciting isn’t happening right at this minute, or the next minute, that Rome might start burning. And we might have too many people around to hint at that, and too many more to spread the news ourselves.

Collectibles shouldn’t be like that.

My suggestion? Practice some patience!

Maybe even embrace periods of boredom or de-prioritizing Top Shot. Look at the marketplace as a space rich with moments with cool stories built around them. Buy what you want, sell what you don’t, maybe check your account value a few times a week, then go on with your life. You’ll be blissfully ignorant to the the dangerous pump and dumps, quick price drops, and be better off for it. Top Shot will still be there, along with all those Sam Merrill’s Top Shot Debut moments.

I don’t believe Dapper Labs built this with the intent to demand your constant attention as a requirement to enjoy the platform and experience. The market may stabilize, FUD may diminish, and our general feeling about what we’re investing in may improve… if we just go fishing.

Categories
NFT Sports

Are NBA Top Shot Challenges Worth It? Yes and No!

NBA Top Shot has taken a bit of a dip in user activity over the last few weeks. There have been some major news splashes with Dapper Labs (the team behind NBA Top Shot) raising over $300M, valuing the company over $2B. The investor group featured Michael Jordan, Kevin Durant, and others, an understated bullish sign that NBA Top Shot is here to stay.

Challenges have become a staple of activity among collectors in the NBA Top Shot community. Many have struggled to identify whether challenges should be completed. That has turned out to be a difficult question to answer for many reasons.  

The first thing you need to decide is whether you are a collector or investor. An investor is going to be looking for the highest EV opportunities to put their money into. On the other hand, a collector is someone who plans on holding their moments long-term (3+ years) and does not mind losing out on EV.  

I consider myself to be a bit of a hybrid. I own moments that I do not plan on selling anytime soon. Those moments mainly consist of moments from Nets players and a couple other high-end moments I believe will appreciate in the future. Participating in challenges allows me to participate and engage in the NBA Top Shot community. For every challenge I can afford, I of course am looking for the most optimal time to buy in and collect the required moments for a challenge. 

NBA Top Shot

Over the past month, a lot of people involved in Top Shot have taken a few steps back. Prices have plummeted from all-time highs, there is less chatter in the discord, and the euphoric hype that we saw throughout February has seemingly subsided. While some people blame challenges for encouraging people to dump their current moment, I believe that the challenges are keeping the community engaged outside of pack drops while we wait on the NBA Top Shot ‘game’ that is rumored to come later down the road.  

Being involved in the Top Shot community is another way to grow your brand, learn new information, and most importantly meet new people. I have been able to make great friends and connections in the community, some of which would not have been made had I not adopted the concept of NBA Top Shot early on. Challenges can keep you in the game in what feels like a half-time.  

On the other hand, investors who are strictly looking to make a profit off NBA Top Shot will need to do a lot more research into challenges. With prices steadily dropping for the past 5-6 weeks, the viability of profiting off challenges may be tougher to grasp.  Check out the Seeing Stars 1 challenge that has already been completed, courtesy of OwnTheMoment.

NBA Top Shot / Own the Moment

As you can see, with the steady decline in average price, the best time to buy in the Seeing Stars 1 challenge was at the last moment—no pun intended.  

There is some manual calculation that goes into determining the expected value of the challenge reward. It’s a task that requires a lot of speculation and analytical work. OwnTheMoment does a great job breaking down that information for followers, and I recommend giving them a follow.

Another thing to consider when completing a challenge as an investor is that serial number will play a MAJOR part in the value of the challenge reward. For example, from the latest Holo Icon drop, the #1 serial LeBron James is valued at over $100,000.  5 figure scores are quite common when landing a #1 serial and while unlikely, is something that an investor will need to keep in mind.

For the time being, the larger number of completions in a challenge has indicated to a lower expected value of the challenge reward. Anyone looking to invest in NBA Top Shot for profit will need to be looking to complete the higher-end challenges that not many collectors can complete.

I believe the latest Tyrese Haliburton Holo Icon challenge will be completed for +EV.  The maximum number of completions for the challenge is capped at 99 because the challenge requirements are /99. 

NBA Top Shot

With this knowledge we can assume that 20-50 people will have the capital and decide to complete the challenge. This creates one of the scarcest moments on the platform with a rookie year and rookie mint badge. Consider that a lot of people who received the challenge requirements in today’s pack drop will be looking to flip, and the Tyrese Haliburton buzzer-beating 3-pointer looks like an amazing opportunity.

As I mentioned earlier, it is critical to identify yourself as an investor or collector when considering whether to pursue an NBA Top Shot challenge. I encourage those of you with the funds to participate as they are an amazing way to stay engaged with the platform and community! Also, the sweat for a great serial number is right up there with the pack drop queue. 

If you have any questions regarding NBA Top Shot challenges, feel free to reach out to me via Twitter DM: @Bobby2Nicee.  Happy collecting!

Categories
NFT Sports

Topps Baseball Cards Enter The NFT Space

The Topps Company announced their foray into the NFT space, with the release of 2021 Topps Series 1 Baseball NFT collectibles set to launch on Tuesday, April 20th. The MLB-licensed digital collectibles are “digitally enhanced and creatively reimagined” from the physical cards, including themed animated backgrounds and 3D team cubes.

“The partnership between Major League Baseball, MLB Players, Inc. and Topps has delighted collectors and fans for generations, celebrating the legendary players and iconic moments that have defined America’s Pastime,” said Tobin Lent, VP & General Manager of Topps Digital Sports & Entertainment at The Topps Company. “Our MLB blockchain NFT series debut marks a historic moment in the modern evolution of collecting for both traditional and new collectors. We’re excited to bring almost a decade’s worth of digital collectibles innovations to 2021 Topps Series 1 and provide another fun avenue for fans to collect their favorite heroes and moments with secure digital ownership on the blockchain.”

In a special promotion, the first 10,000 people who signed up to receive alerts from Topps were eligible to receive a free Topps MLB Opening Day NFT pack. They successfully reached those 10,000 sign-ups within hours of the announcement. 

wallet.wax.io

For those who would like to purchase a pack, the first “Series 1” drop will take place on April 20th at 1pm EST, with 50,000 $5 “standard packs” (containing 6 cards) and 25,000 $100 “Premium Packs” (45 cards) being offered. Buyers will have a slightly better chance of scoring rare collectibles inside of the “Premium Packs”. 

wallet.wax.io

They’ll be available through the WAX Cloud Wallet, which also offers NFT collectibles for brands such as Street Fighter, Godzilla and Topps Garbage Pail Kids. For fans of NFT sports collectibles who are familiar with basketball’s wildly popular NBA Top Shot, the difference here is that Topps will not be minting digital highlights, but will focus instead on digitizing their printed cards. The borders and backgrounds will move, but the players will not. 

wallet.wax.io

This is not the first time that Topps has offered digital collectibles, as they have been in that space since 2012, including their flagship baseball app Topps Bunt. In 2018, Topps launched MLB Crypto Baseball, which were cartoon bobbleheads that were traded on the Ethereum blockchain and never really took off.

Topps also recently announced on April 6th that chairman and former Disney CEO Michael Eisner is taking the company public in a SPAC deal that valued Topps at $1.3 billion. 

Categories
NFT Sports

Jack Settleman’s Thoughts on the Current NFT x Celebrity Landscape

If you wanted to make a quick cash grab with NFTs, that ship has sailed.

Being first in NFTs is over. 

If you’re an athlete or celebrity who wants to cash in on the NFT craze… I’m here to tell you, you missed the boat on being first. 

Over the last few weeks, we have seen a ton of athletes and celebrities jumping into NFTs. They want to create their own and snag a quick buck. They normally collaborate with someone, but it is owned by them.

I don’t blame people for hopping in. If I could release an NFT for a million dollars today, I would. But I truly don’t believe the short term mentality will win. 

If you want to separate yourself from the others, you will need to do more.

Those who are thoughtful about community, access, and technology will win in the long term. 

If a celebrity wants to release a digital sports card, at least make it cool. You need to make it a cool piece of art. Just making one for the sake of making one won’t cut it anymore.

AGAIN – I WANT TO CLARIFY – I GET IT. 

If I could make a quick buck right now, it would be awfully tempting. 

But those going for the quick cash grab are very obvious.

However, I think there is a way to enhance the art. 

The next step would be to create value by offering access and adding to your community. If you own 1/50 NFTs that I release, I will follow you on IG. Or I will give you a signed jersey. 

Let’s continue to go to the next level.

If you grab one of Post Malone’s digital cards, he could offer you backstage access to his concerts. That way, it comes with a community engagement dynamic.

One thing I feel passionate about is that consumers are too good at seeing through the bullshit. The hype of your favorite athlete coming in is starting to settle. It has become clear that people can tell if you are trying to build community or if you are trying to cash out. 

That is why these cash-outs are coming to a halt.

Categories
NFT Sports

Explore the SLAM x ZION NFT Collection

The opportunities opened up by minting NFTs are absolutely endless. We’ve already seen the proliferation of minting highlights as NFTs through platforms like Top Shot, but the sky is the limit when it comes to athletes capitalizing on their brand in exciting new ways allowed by Web 3.0. 

One of the NBA’s hottest players—Pelicans’ All-Star Zion Williamson—and SLAM have gotten together to create a killer NFT drop, including two of the magazine’s iconic covers featuring the young New Orleans hooper. The project is comprised of four limited-edition versions of the two covers: Basic, Gold, Gold Autographed, and a 1-of-1 Platinum Autographed. The SLAM x ZION collection also includes some digital NFT basketballs, created exclusively for the drop.


The project is being auctioned on OpenSea from Friday, April 2nd through Sunday, April 4th. For all the info on price and quantities available of each edition, check out OpenSea’s official announcement of the project. Take a look at all of the editions of the two covers and the special edition basketball NFT below:

SLAM
https://opensea.io/blog/guest-post/slam-x-zion-williamson/

This drop is the cherry on top of a long symbiotic relationship between the iconic basketball brand and former high school phenom-turned NBA All-Star. SLAM has been covering Williamson since the early days of his career, making Zion an ideal candidate for the historic crossover. Speaking to OpenSea, Williamson said: “Through this drop, we hope to deepen our connection with basketball fans, while creating a unique opportunity for them to get in on the action and own a piece of history.”

NFTs allow fans to get more involved in their sports fandom. The SLAM x ZION collaboration is an amazing opportunity for both NBA fans and digital art collectors; it’s a major moment for the NFT-sports world, signaling what kinds of opportunities may continue to open up for athletes to mint recognizable imagery from their careers.

Categories
NFT Sports

AddMoreFunds is an NBA Top Shot Resource You Need to Know

A few weeks ago in a previous article, I touched on some of the resources available to collectors to research and form analysis on NBA Top Shot. Shortly after that article was posted, I discovered a site that is right up there with the best tools/resources to use for Top Shot.


That site is AddMoreFunds.com. AddMoreFunds (AMF) has become a one-stop shop for all your NBA Top Shot needs. In this article, I am going to walk you through some of the tools/resources on the site and how you can go about using them in your day-to-day analysis of Top Shot. The tools on this site are extremely useful in getting a better understanding of the marketplace.

NBA Top Shot Marketplace Explorer

The Marketplace Explorer is a great place to start familiarizing yourself with key data points of the Top Shot market. The data listed can be filtered to whichever setting you like, and also exported to Excel if you are looking to do your own data manipulation. While all the data on the face of the Marketplace Explorer is free, there are “supporter” features that can really take your research/analysis to the next level.  

AddMoreFunds

To start, the “Settings” and “Export” features are for supporters only. To become a supporter and gain access to everything NBA Top Shot, you can sign up at AddMoreFunds.com and receive a FREE 3-day trial. If you enjoy your 3-day trial and want to become a supporter of the site, you can continue your service for $9.95/mo or $99.95/year.

The “Settings” feature allows users to filter by Lowest Ask, Low Mkt Cap, # Sold, Circulation, etc. This is useful for when you are looking to do research/analysis on a certain subset of moments. Whether you have a maximum price you’re willing to pay in mind or looking for an undervalued moment, the settings tool is there to optimize your ability to navigate through the data.  

The “Export” feature allows users to export the data to an excel spreadsheet. If you are experienced working with big data sets, this could be an incredible tool to use to manipulate the data and create unique content (charts, graphs, trends, etc.).

Lowest Ask Data

Another supporter-only feature on the site is the lowest ask chart.  By clicking on the icon next to the lowest ask price, you are directed to a stock market-esque chart that can be filtered by 24H, 5D, 1M, 6M, YTD, etc. In addition to the lowest price movement on a specific moment, users are able to see the volume listed on the bottom of the chart.

AddMoreFunds

The data and tools supporters have gained access to at AddMoreFunds.com has been well worth the $9.95/mo. No matter which market I am putting my money into, I am always looking for an edge over the rest of the field, and that is exactly what I believe I am getting using some of the tools at AMF.

Price Alerts

But wait, there’s more!  

When a collector is looking to buy a moment, it is critical to get the right price. AMF has a feature where collectors can set price alerts for when a moment is listed for sale below a set threshold.  On the left most side of the data set, there is a bell icon that allows you to set these alerts. Simply click on the icon and you will be directed to the page shown below.  

AddMoreFunds

By setting your price alert, you can opt to receive a notification by Slack or Desktop. To receive the notification via Slack, you need to join via addmorefunds.slack.com. By joining Slack, these notifications will be sent directly to your mobile device. The link included in the notification will take you directly to the moment for sale to give you the best chance to purchase the moment at the lowest ask. 

The price alert feature on AMF allows free users to set a maximum of (1) alert. However, another great benefit of becoming a supporter is that you can set unlimited alerts on moments you are interested in. To sign up and become a supporter you can use this link.

Custom Tags and Watch Lists

The best thing about AMF is that they are constantly adding features to the site to maximize your experience as a user. The most recent feature added a few days ago was the ability to create custom tags and watch lists. Keep in mind, this is a supporter only feature but can be extremely useful when looking to organize moments you’re interested in.  

To set a custom tag, first filter by the moment(s) you want to include in your group. To apply a tag to a moment, click in the white box on the far left side of the data set. See below for an example.

AddMoreFunds

Once you have selected the moment(s) you want to tag, you can create a tag to be applied. In this example, let’s say you want to create tags for all Base Set Lebron James and Kevin Durant moments.  

AddMoreFunds

Now, when that filter is applied, you will be shown just the moments included in your tag. This feature is very helpful for creating specific groups, but also allows supporters to export a more organized data set for whatever it is you are working on.

Wrap it Up

AMF has created the Bloomberg Terminal of NBA Top Shot.  Anyone putting their money into moments on NBA Top Shot would benefit from employing these tools. The AMF team is always looking to add more features and they do so by listening to community feedback. If there is a feature you want to have added to the site, by clicking on your username in the top right corner of the home page, there is a feedback dashboard to communicate your thoughts to the AMF team. This community is constantly growing and evolving.  If you’re someone looking to be a part of this development, make sure to become a supporter at AddMoreFunds.com.

If you have any questions about anything AddMoreFunds.com or NBA Top Shot related, you can reach out to me via twitter @Bobby2Nicee.

I look forward to hearing about how people are utilizing the tools described above to make smarter decisions when surfing the NBA Top Shot Marketplace.

Categories
NFT Sports

Poking Holes in Critiques of NBA Top Shot

Well, it was certainly an eventful week for the NFT space. 

  1. A new record for highest-selling NFT was broken.

Mike Winkelmann, aka the digital artist Beeple, sold his piece, a form of NFT CryptoArt, “Everydays – The First 5000 Days” for $69.3 million, shattering the record for digital artwork sales and making it one of the biggest sales in the history of Christie’s Auction House. 

Now, not all NFTs are going to be valued at just under $70 million. However, I think it would be safe to say that a transaction like this is another example of just how real this space is and will be. 

2. In my first blog, one of the things that made me so confident in NBA Top Shot was the league’s effort to fully integrate the platform into its structure. Well, this week, NBA fans saw a sensational dunk from Anthony Edwards. And what was the first thing said by the announcer?

This is just another example of how invested the league is in incorporating Top Shot into its everyday language. 

Last week’s blog featured the reasons I am such a firm believer in NBA Top Shot. This week, I want to look at and address some of the biggest questions people have. 

Three Biggest Critiques of NBA TopShot
It’s a bubble. It is unsustainable.

It is a fair criticism. I think it is OK to be skeptical of something when we have never seen growth like this. As I explained last week, this is the fastest-growing peer to peer marketplace we have ever seen. Half a million people have poured onto the site in the past six months. A ton of people coming in and a lot of hype is surrounding the sphere. Can prices go up? 

The counter to that is that there are an estimated 500,000 fans on the site, but there are 400 million NBA fans. So even if Top Shot had 1 percent of that market share, it would be almost 10x of the current user base. So many people continue to ask, “am I too late to get involved?” That is far from the case. 

There are general issues with the website. Users can’t get money out and the site crashes with too much activity.

NBA Top Shot says they are in beta which is ultimately viewed as a cop-out for a lot of these problems. I think those claims are very fair, but I also think we need to take a step back and recognize the scaling issues that would come with any platform growing this much over a span of 6 months. I’m not going to deny that the website has problems, but the quarter of a billion dollars that was recently fundraised is enough for me to stay patient during these early stages. 

Oversaturation.

A lot of the products were very scarce to start, so it makes sense why they were valued so highly. With more and more moments being released, some people are concerned that the value may drop. On top of that, what happens when the NFL or UFC starts? Will the value of these NBA moments decrease? 

This is a two pronged response. First, as it pertains to more mints on Top Shot, Top Shot believes in the value of getting as many users on the platform as possible and also making moments of their favorite players accessible for utility in the future. In response to other leagues, I believe this can be a rising tide situation. As more sports leagues get in on the action, it might dilute some moments within TS, but overall it becomes a bigger pie. More people learn about NFTs, learn about how to buy/sell/trade digital collectibles and Top Shot can remain a big fish in an even bigger pond.

Categories
NFT Sports

NBA Top Shot: What You Should Know About “Seeing Stars” and “Rising Stars” Packs

About a week ago, NBA Top Shot had two huge pack drops. The first was the “Seeing Stars” pack. This drop included a whopping 203,622 packs that were evenly distributed to 203,622 users. Collectors were only eligible to receive one pack in an attempt to satisfy the exponential consumer demand. The Seeing Stars packs were sold for $14 each and contained two base set moments and one Seeing Stars moment.  

The Seeing Stars set includes 26 NBA players that were selected for the 2021 NBA All-Star game. This is the first seeing stars set ever minted by NBA Top Shot which could increase long-term value among collectors.  

The second pack drop was the “Rising Stars” pack. This was a rare drop which proved to be much more exclusive than the Seeing Stars common packs. In an effort to find a price point that justifies supply/demand, the Rising Stars pack was sold for $199. This did not affect user demand however, with over 200,000 users joining the queue in an effort to secure one of the 36,378 Rising Stars packs.  

Included in the Rising Stars packs were 18 moments from player’s identified as “Rising Stars” during the 2021 season.  The Seeing Stars saw a mint count of x/10,000 per moment whereas the Rising Stars mint count per moment was only x/2,021.  The rarity of the moments, in addition to the rookie badges being added to the first year Rising Stars has greatly increased the value of the moments in this set on the marketplace.

“Seeing Stars” Challenge

The Seeing Stars moments are on a lot of radar’s right now due to the challenges that require these specific moments to complete.  Currently, the only challenge on the marketplace for Seeing Stars is the Seeing Stars Challenge 1.  

To complete this challenge, collector’s must acquire all 12 players from Team Durant in this year’s All-Star game.  

  • James Harden
  • Kyrie Irving
  • Jayson Tatum
  • Zach LaVine
  • Kawhi Leonard
  • Zion Williamson
  • Julius Randle
  • Nikola Vucevic
  • Joel Embiid
  • Devin Booker
  • Donovan Mitchell
  • Bradley Beal

Once a user collects all of these moments and holds onto them until March 29th @ 2pm EST, they will be gifted a Kevin Durant moment that has never been released in packs. The latest update on challenge completion percentage is included in the tweet below.

This means that if the challenge were to end today, there would be 1,540 Kevin Durant Seeing Stars moments minted. Whether or not the challenge is worth the reward is a scenario that has a lot of variables based on timing, total completions, overall market state, and EV based on serial number.

I personally have already completed the Seeing Stars Challenge 1:  

NBA Top Shot / Bob Viafora

My approach to searching for the most EV time to purchase the Seeing Stars moments has proved to be a correct one that readers may try to implement themselves in future pack drops / challenges.

Once the marketplace was opened back up, post pack drop, moments flooded to be posted for sale. For a lot of people, this seeing stars pack was their first experience in NBA Top Shot and were looking to flip the $14 pack they purchased for a huge % return.  

About 12 hours after the initial introduction to the marketplace, the entire Seeing Stars set could be purchased for ~$3,000. This is around the time frame I was on the offense, buying up all moments required for the Kevin Durant set. As you can see in the above image, the current floor for the entire set is $6,133.  

Currently, the Team Durant set is cheaper than Team LeBron. While there is no current challenge out for the moment’s on Team LeBron, it is speculated that after the Durant challenge ends, an identically structured challenge will be released for a LeBron James Seeing Stars reward.  

I am speculating that we will see a sharp rise in Team LeBron Seeing Stars moments if/when that challenge is released. As of March 2nd, LeBron James moments made up 17% of the entire implied market cap on NBA Top Shot.  

There is a premium to be paid for The King, and to be ahead of the curve on his challenge could prove to be a sharp decision as a lot of new Top Shot users. Many are unaware of the potential LeBron challenge leading to a decreased entry point on potential challenge requirements.

“Rising Stars” Challenge

The Rising Stars pack drop came shortly after the completion of the Seeing Stars. To complete the Rising Stars challenge, a collector must acquire all of the Rising Star moments via the marketplace or through securing/opening a Rising Stars pack.  Only 2,021 of the 18 moments will ever be minted which has directly correlated to the premium on these moments in the marketplace.

The current Rising Stars challenge requires users to collect nine moments from the set.

  • LaMelo Ball
  • De’Andre Hunter
  • Facundo Campazzo
  • James Wiseman
  • Mychal Mulder
  • Brandon Clarke
  • Luguentz Dort
  • Keldon Johnson
  • Rui Hachimura

Once a collector has compiled all of these moments, when the timer runs out on March 30th @ 3pm EST, they will receive an insane Anthony Edwards poster dunk. I am of the thought that this challenge is particularly a great buy right now. However, I am not pursuing it due to the fact I am already in on the Seeing Stars challenge and am not looking to liquidate any other moments I own in order to complete this challenge.

NBA Top Shot / Bob Viafora

However, check out the recent price surge on Anthony Edwards first NBA Top Shot moment:

At the moment, only about 260 people have completed the requirements of this challenge. Due to the scarcity of these rising star moments and their current marketplace price tags, the barrier to entry may be too high for a lot of Top Shot users leading to a lower number of minted Anthony Edwards reward moments and implied higher value.  

The current cost to complete the challenge is ~$9,500.  The bulk of that expense is in relation to LaMelo Ball ($4,500 lowest ask) and James Wiseman ($1,540 lowest ask).  

The Anthony Edwards poster is a candidate for dunk of the year and would be an incredible moment to own from Edwards’ rookie season. I’m envious of those completing this challenge and I look forward to seeing the details on the marketplace after the challenge completes (lowest asking price & number of moments minted).

Bobby’s Best Buy

While not financial advice, my best recommendation to new users looking to build a valuable collection is to target the Seeing Stars Challenge 1.  In my opinion, both the Durant and potential LeBron challenge provide a good value that warrants completion.

The expected value of a <10,000 minted Durant and LeBron should hold a lot of sentiment on the marketplace. In addition, these are the first Seeing Stars moments ever minted. 10-15+ years from now, this set may look like a steal as it is the first of its kind.

Wrap It Up

It may be hard to keep up with everything going on in this new space.  The One37pm team has a ton of content in the pipeline to keep you up to date on everything NBA Top Shot.

In the meantime, I recommend following @TheFirstMint, @OwnTheMomement, @One37pm and @Bobby2Nicee on twitter for real-time updates/news/analysis. 

Categories
NFT Sports

How NFTS Are Going to Disrupt the Sports World

NFTs have already changed the game in regards to how we as fans think about sports collectibles and art, but the use cases of NFTs extend beyond what we have seen in the past few weeks.

Let’s peer into the crystal ball to discuss considerations and applications of NFTs in the world of sports, so if you want to keep ahead of the game in your group chats, keep reading:

Pure Digital Collectibles

Ok, so this is the category that we would put NBA Top shot in at this time.

The vibe, emotion and jeopardy of collecting physical trading cards, replicated in digital form.

I want to talk about licensed Intellectual Property (IP) being the key here, and where much of the inherent value lies within the Sports NFT world so far.

Companies such as Dapper Labs, owners of NBA Top Shot, have to create official agreements with sports rightsholders and league owners to authorize them to use official logos and imagery.

We are yet to see a CyberPunk alternative emerge as a key player within the NFT sports space, and I don’t believe this will change as sports fandom is so tied to official IP.

My advice, be wary of alternative non-official NFT projects in the sports space.

Virtual Real Estate

Would you ever buy a virtual stadium?

One use case with interesting potential in sports could be tapping into the world of NFT Real Estate.

Imagine having the chance to own unique virtual real estate which relates to your favorite team, such as owning a specific NFT seat within an online SoFi Stadium or Old Trafford?

Owning this seat in that virtual stadium could give you access to watch exclusive in-stadium events and appearances from sports starts, à la the Travis Scott x Fortnite gigs last year!

How much would you pay to own a piece of virtual real estate for your favorite team?

https://theramswire.usatoday.com/2020/01/19/la-rams-sofi-stadium-tour-view-seats/
Image via Ramswire

Fantasy Utility

Probably the easiest way to see growth in the NFT Sports space at the moment is sports entities creating their own NFT backed fantasy games, similar to what we have seen with the rise of Sorare.

Did you know there are other official fantasy NFT games out there?

For example, take F1 Delta Time, which is an officially licensed F1 fantasy game, where you purchase NFT items to build a team and compete against other players for big prizes—and it hasn’t blown up yet!

Expect more of your favorite sports to release platforms which not only allow you to collect items, but also earn rewards by putting them to use.

Ticketing

I’m sure many of us here have been stung by ticket scalps and fraudulent sales in the past, well NFTs are here to help!

Tickets to sports events are effectively one of one, based on your seat/capacity etc, meaning NFTs offer the perfect solution in the future to ensure fans get a fair deal. 

Not only will fans always be assured a genuine ticket by actually being able to verify any secondary ticket buy on the blockchain, but sports events will also be able to accurately trace sale prices and clamp down on scalps profiting from real fans getting access to the sports events they want to see.

Expect the Dallas Mavericks to be early to this party, as Mark Cuban has already announced plans for looking at blockchain ticketing solutions.

Adam Glanzman / Getty Images

Ticket hoarders artificially driving up prices & fake tickets—get in the bin!

Smart Contracts

NFTs will not just impact our experience as fans through collecting, gaming and ticketing, but they can also play a key role in smart contracts and player admin.

Due to the unique nature of NFT technology, we will likely see use cases extend to smart contracts, whereby when players are transferred between teams, confidential health records, performance data and even doping tests can be stored and transferred accordingly.

This will not only prevent leaks of data, but also ensure transparency behind the most expensive transactions that teams make.

I for one, am excited to see how all these considerations can change the sports we love for the better!

Categories
NFT Sports

Why I Believe in NBA Top Shot

NBA Top Shot is the fastest growing peer to peer marketplace we’ve ever seen. Half a million people have poured onto the site in the past 6 months. $100M+ in transactions have taken place. NBA Top Shot is undoubtedly the new thing on the block. 

But can Top Shot sustain this success and grow in the future. I’m here to say, YES. Here are some reasons why I believe in the platform:

1. NBA Top Shot is the fastest growing “peer to peer” marketplace we’ve ever seen.

In just a few months, we’ve seen the user base increase 100x and the appetite for the product is untouched by any platform I’ve ever seen. Top Shot is being organically covered by outlets like ESPN and Bleacher Report, and NBA players have next level engagement with the platform themselves. While there have been many site issues, take a step back and look at the insane success through just 6 months in their beta product.

2. The relationship and license with the NBA and the player’s association.

The NBA and their PA receive a cut on every transaction, therefore they are extremely incentivized to continuously promote this product as opposed to a physical card—where after it’s been printed, they receive no money. It has become clear that Top Shot is going to become a MASSIVE revenue builder for the league. Following the 2020 campaign, the league was searching for another revenue driver. They believe they have found their next hit. An example of the NBA’s over the top integration into Top Shot is the league’s decision to announce the rosters for the Rising Stars game of the All-Star Weekend via NBA Top Shot.

3. Utility.

For comparison’s sake, the utility of a physical sports card is tangibility, showing it to friends and that’s about it. With NFTs, utility possibilities are endless and why I encourage others not to try putting a market cap on NFTs and NBA Top Shot.

  • Fantasy Game, Swyysh allows you to use your moments to play in a weekly NBA fantasy game.
  • Mobile App/Video Game: Dapper Labs (the company behind the NBA Top Shot Blockchain) and Top Shot are creating a game called “Hard Court” 
  • A Digital Passport: Imagine attending an NBA game and scanning your ticket. One week later, a moment from that game is dropped into your Top Shot account as not only a memory but a way to track games you’ve been to in the past.

VR/AR, fan engagement, the list goes on and on but the most bullish aspect of Top Shot has to be their utility.