NBA Top Shot update

[Seinfeld]

So as I posted a few weeks back, I’ve always enjoyed the collectible/memorabilia world, and any time you can combine it with new tech, I get intrigued. Well, I eased into this whole top shot market by buying a couple $9 packs, and I honestly nearly exited as quickly as I jumped in, but then I got an offer to reserve a special $14 “cool cat” and thought what the hell. Upon getting it and opening the pack, I pull a Devin Booker that I thought might be worth $10. After checking the market, I see that it was going for $300 and at that point, I was convinced that there was something to this craze

After a little more research, I discovered that the reason this Booker cool cat card was so valuable is because you must have it plus 9 other cards to complete a challenge that nets you a limited edition Luka. Once again, I debated whether I really wanted to invest $1000 on additional cards to get this Luka card, but I couldn’t help but think that if I snagged it, I’d get my money back and then some.

Well, long story short, things weren’t looking super hot for me for a week or so, but I pulled my account up yesterday and the damn Doncic card is worth $5500. This stuff is wild, and it may crash and burn, but it’s a craze like I haven’t seen in a long time. Anyone else doing this Top Shot stuff yet?

 

[dorndawg]

Do you have any recommended reading for a beginner? Can a person "gift" a pack?

 

[Seinfeld]

Here’s one that ESPN just did earlier this week, and I’m pretty sure it’s exactly what kicked off the surge in activity/sales over the last couple days. It really is wild because it’s like they’ve combined the rush of investing, virtual currency, and collecting into one product.

https://www.espn.com/nba/insider/st...-top-shot-dizzying-world-digital-collectibles

You can gift individual cards, but TS has said several times that they’re not big on gifting packs because it would promote scalping. People have found ways around this, but I’ll give TS credit as they’re spending a ton of time and money to prevent bots and A-holes from turning this into another PS5 disaster with scalpers.

There really isn’t a ton to it as the high dollar cards are mostly the same ones that would be valuable in the real world. I.e LeBron, rookies, low serial #, limited editions. The whole challenge concept is new, though, because it adds an element that’s not in the paper card market. Not to mention that you can buy/sell these things with a few clicks on your phone. My only gripe so far is that you can only withdraw $ with either a virtual currency account or else a bank wire that comes with I think a $35 fee. Aside from that, though, it’s been a lot of fun. I’ve completed another set that will reward me with an Anthony Davis limited card in a week or so, and it’s currently projected to be worth around $1500. After that, I’m going for the master set which nets you a Lamelo Ball limited edition rookie. Time will tell what it’s worth, but his common rookie is going for $3k, so there’s no telling about an even more limited challenge version

Let me know if you dive in!

 

[MSU124]

I’m in. Up to $20k (put in $3k). **** is addicting. You going for the master challenge?

 

[jethreauxdawg]

This made me look up an old Kobe rookie

Card I’ve got. I’m seeing it online for between $125-$4000. Mine is in great condition. I’m gonna look into this more

 

[Seinfeld]

Nice job. I've got roughly the same amount into it so far, but I'm only hitting $13K in total account value. The Luka CC is by far my most valuable card, and I'm hanging on to it as I think it's going to skyrocket the closer we get to the Lamelo master challenge. I guess the downside is that a lot of the other CCs are probably going to plummet once the challenges end, but then again, who knows... the way the entire market is taking off right now, they may be just fine

What are your most valuable moments? I'm for sure going after the Lamelo CC master challenge. His common rookie is sitting at $3k, and if there ends up being only 2500 or so of the CCs due to the Luka bottleneck, it legit might hit $10k. If you snag a low serial or jersey number as well, look out

 

[MSU124]

That Ball moment is going to be awesome.
My top 5 moments:

Luka CC
Lebron S2 base dunk
RJ Barrett S1 base layup
Haliburton
KD S2 base three (my favorite moment - KD loves memorabilia- check his Twitter, and this is his first point as a Net and back from his injury)

 

[Seinfeld]

That’s a great haul for only having started a month or two ago. I’ve been trying the figure how to snag a Ja S1 moment, but they’ve just gotten too pricey

So as I mentioned at 2PM yesterday, my account was sitting at $13k, but I woke up this morning to $22k. The Luka CC is now nearly $8k by itself, and if you haven’t checked your account, I bet you’re over $30k now

 

[Seinfeld]

That’s awesome. I’m not sure about the exact process, but if it’s in as good a condition as you say, I’d definitely consider getting it professionally graded. Even an 8 or 8.5 grade is highly valuable, and if you somehow have a 9.5 or 10, look out

 

[aTotal360]

I used to be a hardcore card collector in the 90s. True 10s hardly exist for older cards because of old manufacturing processes. Factory lines and off centering in 99% of the cards produced. Mishandling is a secondary issue. With that being said, I'd definitely recommend sending off to PSA or Beckett for grading.

 

[mstateglfr]

That’s a great haul for only having started a month or two ago. I’ve been trying the figure how to snag a Ja S1 moment, but they’ve just gotten too pricey

So as I mentioned at 2PM yesterday, my account was sitting at $13k, but I woke up this morning to $22k. The Luka CC is now nearly $8k by itself, and if you haven’t checked your account, I bet you’re over $30k now

Is $22K in this game actually equal to $22,000 USD that you can cash out and hold in $20 increments in your hand? Or is it a virtual $22K that you can spend on other virtual clips of cool plays?

If its real USD, what is the reason for it increasing so much?...why is the Luka worth so much more today than a couple days ago? I assume its because it needs to be part of a set or something?

 

[Seinfeld]

Granted, this is sort of a yes and no answer, but I’ll start by saying that the valuation does not mean that you have $22k in cash that you can transfer to a bank at any time. Like a Beckett, it’s just an estimate of what your moments are worth based on up to the minute buying/selling activity in the marketplace. It’s still on you to sell your moments, and there’s a 5% transaction fee on everything you sell.

That said, it’s also fair to note that the valuation is based on the lowest list price currently in the marketplace, and as daily marketplace sales are topping $30M, there’s a more than reasonable reason to expect that someone out there will/would buy your moments for those values. After that, you’re free to move your sales money to Coinbase, a checking account, etc. Every buy/sale is public knowledge that is traceable online on a variety of different websites, so there’s really not much that’s a mystery about any of this. You can literally go out to the web and see exactly what cards any user account has, what they paid for them, etc.

I’ll admit... I have no idea where all this is going, but I’ll say again, it’s one of the more intriguing things I’ve encountered in the last 10+ years. People are 100% shelling out tens or even hundreds of thousands of dollars per day on these

 

[mstateglfr]

1- thanks for the explanation.

2- its depressing to hear there is yet another trend that makes me tilt my head in confusion over the appeal.

3- the creators had to have thought about this, but what makes their product any better/different from anyone else who markets gif length moments?

4- does popularity in something like this help show the NBA is not going broke even though some here claim it is?

5- i fully understand markets and value exists because others agree there is demand and value, but it is tough to conceptualize and accept that something which doesnt physically exist has so much demand and value. i think its the lack of physical ownership that is a mental hangup. if you dont physically own it, then why have it- that sort of thing.

6- 17 i am old.

 

[DesotoCountyDawg]

It’s just like wheels and cars and skins in Rocket League worth astronomical amounts or the value of certain items in other video games worth a lot. There’s a demand for these things even though they have no real value.

 

[CochiseCowbell]

It’s just like wheels and cars and skins in Rocket League worth astronomical amounts or the value of certain items in other video games worth a lot. There’s a demand for these things even though they have no real value.

Time to repeal my step-son's allowance and get him to contribute to the household.!**