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NBA Top Shots (and other NFTs discussion)

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[OP]
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Jul 10, 2014
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NBA Top Shots (and other NFTs discussion)

"What is NBA Top Shot? Explaining the Blockchain NBA highlight collectables
NBA Top Shot is the future of the trading card market. Virtual packs can be purchased and either 'showcased' or re-sold on the virtual marketplace with some highlights currently selling for as much as $100,000 USD.

By Kyle Irving

NBA Top Shot www.nbatopshot.com
What is NBA Top Shot?

That's a question that will be asked much more frequently in the near future.

NBA Top Shot is a blockchain-based platform that allows fans to buy, sell and trade numbered versions of specific, officially-licensed video highlights.

In a joint venture that began in July of 2019 between the National Basketball Association, the NBA Players Association and Dapper Labs have come together to create NBA Top Shot, a "revolutionary new experience in which jaw-dropping plays and unforgettable highlights become collectibles that you can own forever," per Dapper Labs Chief Executive Officer Roham Gharegozlou.

In plain terms: think of the future of the sports trading card market mixed with similar principles of cryptocurrency, but it's virtual cards that contain individual NBA highlights.

How it works: the NBA cuts the highlights and then Dapper Labs decides how many of each highlight they are going to sell and number them. They place each highlight into digital packs, just like regular trading cards, and sell the packs on the official NBA Top Shot website for prices ranging from $9 to $230. The pack prices depend on the quality of highlight, the stardom level of the player and the exclusiveness of the card. Once you purchase a pack, those highlights go into your encrypted, secure highlight wallet to be "showcased" or re-sold on the NBA Top Shot Marketplace.

According to Action Network, there have already been five sales on the global, open, peer-to-peer, always-on marketplace worth over $20,000 U.S. dollars, including a specific LeBron James highlight that recently sold for over $71,000.

While this tweet below isn't the specific highlight that sold for $71K, it gives you a better idea of what NBA Top Shot's cards look like.

Currently, there is a highlight card of Ja Morant dunking over Aron Baynes from his Rookie of the Year season last year that is being lobbied for $100,000 on the open marketplace.

If you're wondering how to get started, all of the packs are currently sold out on the NBA Top Shot website - the only place you can buy, sell or trade the virtual cards. Check back here for when packs go back on sale or check out the NBA Top Shot marketplace to start your collection by purchasing individual virtual cards.

"This takes the traditional collectible into a modern, global era," Dapper Labs CEO Gharegozlou told The Action Network. "All markets are immediate and international. No longer do you have to wait for a card to be graded, or delivered, or fear of forgeries."

"...The trading card business is worth $5-$6 billion annually," Gharegozlou stated to The Action Network. "I don't see why we can't get to a place where this business is grossing $1 billion alone.""

I bought my first pack for ~$15usd and flipped one highlight for $125usd and the remaining others are worth about $60usd collectively. My buddy also gifted me a highlight for my birthday that was worth $10 then and is now $100. Does this have anymore staying power than CryptoKitties? I would say yes as it is tied to the NBA with a global fanbase but hoping to hear what others think. We can also discuss any other NFTs (non-fungible tokens) in this thread as they represent a quickly growing market.
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Oct 24, 2005
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Someone posted about this in the entertainment forum around the beginning of the year. I made an account but of course I didn’t decide to really look at it until this weekend when it seems to be really blowing up.

Managed to luck out and get a stress test pack and threw a few bucks in at the marketplace. Who knows where things will go if this blows up even more or when they release new sets with more mints.

For me seems like it can be a fun little distraction to look at after hours though I see a lot of people are putting in and making some serious money.

No direct withdrawal to a bank account in Canada yet though but sounds like it’s something they’re working on so have to go through a crypto wallet for now to get your money out.
2006 - Pepsi/Frito Lay Win Every Hour Contest - 1279 Entries - Loser!
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Jun 13, 2019
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If you thought paying for porn was peak stupid, you were wrong...

Lol at anyone dumb enough to pay 70k for an video clip from a basketball game
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Oct 24, 2005
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Isoflex117 wrote: If you thought paying for porn was peak stupid, you were wrong...

Lol at anyone dumb enough to pay 70k for an video clip from a basketball game
100% agree but the people paying that much money aren’t buying it because they value it as a collectors item. The whole thing is pretty much just a big speculators market like playing in the altcoins.

Prices of everything exploded this weekend and hard to see it getting even crazier but it might as I can see it attracting more casual sports fans, degenerate sports gamblers, and anyone caught up in the current market/crypto mania looking to make a quick buck (WSB bro types).

I’ve put in a few bucks. As a NBA fan it’s a fun distraction and I’m not planning on taking it too seriously.

If anyone is lucky enough to get a pack those are literally free money right now.
2006 - Pepsi/Frito Lay Win Every Hour Contest - 1279 Entries - Loser!
[OP]
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Isoflex117 wrote: If you thought paying for porn was peak stupid, you were wrong...

Lol at anyone dumb enough to pay 70k for an video clip from a basketball game
Wait until you hear what people pay for *pictures* from a basketball game -- one recently went for $780k Face With Tears Of Joy
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Aug 19, 2002
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Yesterday the cheapest price for an individual card was around $14/$15. Today it's $25. A $9 pack contains 3 card, so $75 flip. Is this the greater fool theory in action?

Don't get me wrong, I wouldn't mind throwing down some money for a few packs for fun, but they're nearly impossible to get.
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goob3r wrote: Yesterday the cheapest price for an individual card was around $14/$15. Today it's $25. A $9 pack contains 3 card, so $75 flip. Is this the greater fool theory in action?

Don't get me wrong, I wouldn't mind throwing down some money for a few packs for fun, but they're nearly impossible to get.
$75 if you get 3 absolute bottom tier moments but more likely there would be something half decent in the pack.

I think the odds for latest 5000 release today was like 1/12. They will have wider releases of packs like 50000 so it’s hard to gauge how this might impact the current pricing. If the user base keeps exploding though prices may be able to keep up with dilution.

There’s the real market to make real money. This is just a bit of fun and some beer money is nice.
2006 - Pepsi/Frito Lay Win Every Hour Contest - 1279 Entries - Loser!
Deal Guru
Feb 9, 2009
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so many tulips blooming in this market at the same time ;)
Deal Fanatic
Aug 17, 2008
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Not for me, but if you can burn $6.6mm, it's your life. Do you buy a big screen tv and display this along side your Monet?

How a 10-second video clip sold for US$6.6-million
MARCH 1, 20212:21 AM

https://www.reuters.com/article/us-reta ... SKCN2AT1HG

Update
Crypto art is gaining traction and one of its biggest stars is an artist from Thunder Bay

https://www.theglobeandmail.com/arts/ar ... ars-is-an/

Excerpts;
Crypto art is digital art with an attached unique identifier, in the form of a non-fungible token (NFT), on the blockchain. NFTs can’t be replicated and only the holder of the NFT can own that piece of crypto art.

The work is offered in “drops” – online sales that generally happen in two ways. Buyers can purchase an open edition (think of it as a numbered print, in traditional art terms). Each edition is sold at a set price, but purchasers have only five minutes to buy. The other part of a drop is the auction of a 1/1 edition, a single unique work. Bids for those are taken for 23 hours.
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Last edited by MrMom on Mar 1st, 2021 2:00 pm, edited 1 time in total.
Deal Fanatic
Jan 22, 2006
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I decided to test it out and bought a pack this weekend for $9 USD. There were about 150k fans in the queue waiting to purchase.
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Aug 17, 2008
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Namaste @zaidyboy

Maybe you just made the 2009 equivalent Bitcoin purchase or you just bought some tulips with a similar lifespan. Thanks for taking one for the RFD community either way. And yes, that ^ was a play on words.Winking Face
Deal Fanatic
Jan 22, 2006
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MrMom wrote: Namaste @zaidyboy

Maybe you just made the 2009 equivalent Bitcoin purchase or you just bought some tulips with a similar lifespan. Thanks for taking one for the RFD community either way. And yes, that ^ was a play on words.Winking Face
hahaha!
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Mar 27, 2007
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Imagine if Banksy sold a one-of-a-kind NFT. It would break the internet.

It's also possible for original creators to receive royalties from secondary sales. Think music or photos. Suddenly that digital asset you own can make you serious money.

Don't dismiss NFT's. I don't know enough to recommend them (yet), but they have serious potential.


Disclaimer: I'm not an expert, and I don't own any.
Deal Guru
Apr 11, 2006
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zaidyboy wrote: I decided to test it out and bought a pack this weekend for $9 USD. There were about 150k fans in the queue waiting to purchase.
Don't leave us hanging man. What did you get?!?!
[OP]
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Jul 10, 2014
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ItechJester wrote: Imagine if Banksy sold a one-of-a-kind NFT. It would break the internet.

It's also possible for original creators to receive royalties from secondary sales. Think music or photos. Suddenly that digital asset you own can make you serious money.

Don't dismiss NFT's. I don't know enough to recommend them (yet), but they have serious potential.


Disclaimer: I'm not an expert, and I don't own any.
NFTs are absolutely here to stay. Gradually, then suddenly.
[OP]
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kenchau wrote: Don't leave us hanging man. What did you get?!?!
This person bought a pack that was for the first time released to anyone who wanted to buy one. These moments will have the lowest value by far. The previous pack before that went for $99 and I wasn't able to get one but the drop before that was the Cool Cats drop. I bought a pack for $15 and pulled a $600 moment, a $150 moment, and three moments ranging from $20 to $50. Of course, these values fluctuate but they've settled around the numbers listed. I sold my top two moments and will use the profits for future pack purchases. It's certainly a bubble but imo it's better to be first than right in speculative investments. Crazy to say but it rings true more often than not.
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May 22, 2003
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kenchau wrote: Don't leave us hanging man. What did you get?!?!
Won't be released for 2 weeks I think. I waited over 3 hours, haha! I entered the queue around 12:30, line was frozen and I was 140k in line. Went out to do all my errand, came back at 3:30pm and was still at 50k.
Deal Fanatic
Jan 22, 2006
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kenchau wrote: Don't leave us hanging man. What did you get?!?!
As @djdestroyer mentioned above, its the lowest of low and I won’t know until the second week of March. I’ll keep you posted hehe.

p.s thank you for creating this thread. I think this is the start of something big!
Member
May 19, 2015
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Toronto, ON
Bought my first few moments. Going to wait a week or two to check the market again. Most likely will buy again after ppl get their packs and saturate the marketplace a bit.
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Aug 19, 2002
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I too bought into the weekend pack. We'll see how much this drop goes for soon. I have honestly not been following blockchain and crypto all these years, but the hype around digital asset ownership seems like a fantastic use case and future market.

I haven't listened to all of this yet, but there's a Future Commerce podcast on Top Shot.

https://podcasts.apple.com/ca/podcast/n ... 0510755515

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