OT: Luka Garza Digital Card Auction

[carmenst]

On Tuesday there will be an auction for a digital trading card of Luka Garza. Using blockchain technology this is unique collectible that can't be replicated with fakes. As Luka is not a pro and is fresh out of college, the winning bid amount will show what a top player in the NCAA could potentially earn from their own digital card if the NIL rights are given to players.

In fact the more I think about it, a NCAA digital trading card marketplace akin to the NBA Top Shot would be successful and provide earnings to both players and schools. I think football would be successful and potentially wrestling and women's basketball depending on market demand.

 

[RUfromSoCal?]

so, it's not actually a trading card, then?

 

[rubaseball78_rivals]

so, it's not actually a trading card, then?

Makes it tough to use a clothespin to put the card in the spokes of your bike.

 

[RU82]

The real fun will start when HS players can sell their digital cards.

 

[carmenst]

Makes it tough to use a clothespin to put the card in the spokes of your bike.

Yeah , it’s just digital. The card looks pretty good. The winner of the auction will also be able to play a game of HORSE against Garza, have dinner together and a meditation session. No bike ride though.

 

[Westcoast]

Makes it tough to use a clothespin to put the card in the spokes of your bike.

You stick your phone in the spokes while the card is showing on the screen. Makes the same sound.

 

[toby83]

Yeah , it’s just digital. The card looks pretty good. The winner of the auction will also be able to play a game of HORSE against Garza, have dinner together and a meditation session. No bike ride though.

i know you said HORSE, but this is how i picture 1-on-1 vs Garza

 

[Pancho1939_rivals]

this will ultimately show whether people watch the school because of the players or players because of the school. I would pay 50-100 bucks so my kid could play horse with someone like him....

 

[NickRU714]

Garza is an awful test case for this.
He has zero NBA appeal and his “value” is at near bottom now that college basketball is over.

Imagine the option to buy a Garza NBA rookie card right now.
$5 would be too much.

 

[NickRU714]

The real fun will start when HS players can sell their digital cards.

Jaden Hardy, Jabari Smith II and AJ Griffin would probably be more valuable than ever current NCAA player except Cunningham and Mobley and Suggs.

 

[RUBlackout]

this will ultimately show whether people watch the school because of the players or players because of the school. I would pay 50-100 bucks so my kid could play horse with someone like him....

I think people watch because of the school first. Only time I see people watching for the players is in March Madness but I think that is by default because fans just want to watch games

 

[RUfromSoCal?]

NFTs are only valuable as long as people find them valuable - not by fake scarcity pretending to be interest.

Garza will be worth <$20....................
talk to me in 5 years......

if you disagree, my gam-gam has some beenie-babies you can get from her too..

 

[carmenst]

Apparently the auction is over and the winning bid was $41,142. Part of the proceeds are being donated to the University of Iowa’s children’s hospital.

 

[RUfromSoCal?]

Apparently the auction is over and the winning bid was $41,142. Part of the proceeds are being donated to the University of Iowa’s children’s hospital.

Lindsay Lohan cranks these NFts out like crap out of a goose... every week...

this one went for $50k.......

someone has figured out the world is dumb......... I'll give her that...

 

[ScarletKid2008]

Do you think of NFTs as buying rights to a digital image? If it's treated like art or photography then I do see some commercial asset aspect to it. But $40k for a Garza trading card seems odd. Some of the valuations on these early NFTs are absolutely mind blowing.

At first I was in the "this is ridiculous and will go away camp". But its quickly becoming mainstream and its hard to ignore the price tags these things are fetching.

Online commerce is insane. So much money to be made from so many different corners of the internet with little to no talent or start up costs. Things like Amazon FBA, Youtube channels, Instagram/TikTok Influencers,NFTs, Coaching programs, Only Fans, etc. etc.

 

[carmenst]

Do you think of NFTs as buying rights to a digital image? If it's treated like art or photography then I do see some commercial asset aspect to it. But $40k for a Garza trading card seems odd. Some of the valuations on these early NFTs are absolutely mind blowing.

At first I was in the "this is ridiculous and will go away camp". But its quickly becoming mainstream and its hard to ignore the price tags these things are fetching.

Online commerce is insane. So much money to be made from so many different corners of the internet with little to no talent or start up costs. Things like Amazon FBA, Youtube channels, Instagram/TikTok Influencers,NFTs, Coaching programs, Only Fans, etc. etc.

I think it’s a generational thing where digital assets are attractive to the younger crowd who have grown up with cell phones in their hands and everything is digital. I think NFT’s are here to stay. These are collectibles where the art/images can be highly prized by a bidder. Is someone going to overbid on an NFT at some point ? Sure. I haven’t looked but I would think an NFT marketplace like NBA top shot maybe more than you think to start up and maintain.

 

[carmenst]

Lindsay Lohan cranks these NFts out like crap out of a goose... every week...

this one went for $50k.......

someone has figured out the world is dumb......... I'll give her that...

I wouldn’t pay 50k for a Lindsay NFT , but good for her if she can sell it.

 

[anon_0k9zlfz6lz9oy]

NFT’s just show you how many suckers are out there haha. What an insane concept

 

[NickRU714]

NFT’s just show you how many suckers are out there haha. What an insane concept

Or are we the suckers for not getting in on it?
I'm slowly thinking I'm the fool.

Let me go create an NBA TopShot account now.....

 

[RUtrumpet92_rivals498139]

This thread led me to read about NFTs. Wow, that is insanity. A fool and his money are soon parted. Good for whomever can get people to fork over real money for an "authentic" original digital item that can be replicated exactly.

 

[anon_0k9zlfz6lz9oy]

Or are we the suckers for not getting in on it?
I'm slowly thinking I'm the fool.

Let me go create an NBA TopShot account now.....

Haha what is the asset backing the investment. Granted im a simpleton with my investment philosophy and I like simple things hence why I invest in real estate. Im a tangibles and necessities guy

 

[anon_0k9zlfz6lz9oy]

This thread led me to read about NFTs. Wow, that is insanity. A fool and his money are soon parted. Good for whomever can get people to fork over real money for an "authentic" original digital item that can be replicated exactly.

I just dont see the value of owning a 10 second video clip when you can just watch it on youtube. Apparently people are buying nft houses now lol. Aka virtual houses to fill up with their virtual art. Its insane haha

 

[RUfromSoCal?]

 

[RUsundevil]

I tried chewing my cell phone case thinking it was bubble gum.

 

[NickRU714]

Haha what is the asset backing the investment. Granted im a simpleton with my investment philosophy and I like simple things hence why I invest in real estate. Im a tangibles and necessities guy

Physical real estate?
Okay boomer.
But what are your "digital real estate" holdings?

https://www.coindesk.com/here-comes-the-virtual-real-estate-boom

I can't believe this is a thing.
Reminds me of Inception with the sleeper den:

"They come to be woken up. The dream has become their reality."

 

[NickRU714]

I just dont see the value of owning a 10 second video clip when you can just watch it on youtube. Apparently people are buying nft houses now lol. Aka virtual houses to fill up with their virtual art. Its insane haha

I don't get the attraction.
But are people buying and holding?
Or just another way for speculative investing - similar to buying physical baseball/basketball cards.

But I don't get physical art either.
Same thing - you can get a replica or a print.

 

[anon_0k9zlfz6lz9oy]

I don't get the attraction.
But are people buying and holding?
Or just another way for speculative investing - similar to buying physical baseball/basketball cards.

But I don't get physical art either.
Same thing - you can get a replica or a print.

I believe most of the smart people are buying, pumping, and then selling off to a sucker. They realize there’s no long-term viability with this and ultimately the suckers will be left holding the bag

 

[red sail]

My head just exploded - some dope just paid $41+k for a Garza digital card? What a joke.

 

[koleszar]

My head just exploded - some dope just paid $41+k for a Garza digital card? What a joke.

Could be a booster getting out in front of the NIL craziness. Look he just established what a player at Iowa could potentially be worth one digital card at a time. 10 digital cards and you too can make $410k while playing for Iowa.

 

[RUfromSoCal?]

...and this stuff isn't even that "new". I recall reading over 7-8 years ago (maybe longer) of people spending real money (tens of thousand$) for stuff on "Second Life" and other virtual worlds...

heck - there are still live auctions for crap on that Second life (though I have never understood what it actually is.. https://places.secondlife.com/parcels/208711/six-minute-hill-208-16-moderate-1024m

and isn't the whole premise of that film Player One - essentially this sort of VR value to stuff...

Clearly, blockchain and the success of Crypto has made people have a lot of interest in this stuff -- but this stuff specifically seems very much like a bubble - unlimited supply of individual (singular) items is still an unlimited supply - which, ultimately, has a real value very close to ZERO...


Now as others stated above... you could make the same argument that this:

is just $37 of paint and about $340 worth of some fairly marginal artist's time. And yet, you could (very easily) get close to $41,000,000.00 of very real dollars if you owned it and sold it today...

even though you could get an exact replica to hang on your wall for about $129.99.

 

[red sail]

Could be a booster getting out in front of the NIL craziness. Look he just established what a player at Iowa could potentially be worth one digital card at a time. 10 digital cards and you too can make $410k while playing for Iowa.

This NIL will put a nail in the coffin of amateur sports and the NCAA as we know it. All the bag men can do their dirty work out in public now.

 

[NickRU714]

All these articles are lying.
The auction wasn't just for the Garza NFT.
There is a bunch of other stuff too.
I'm not an expert, but would the charity donation part be a tax write-off for the winner?

Signed shoes have zero value to me but I'm sure in Iowa they are worth most of that 40k.

Imagine a RU player won NPOY - someone on here would definitely buy this package.

https://www.espn.com/mens-college-b...-garza-becomes-first-college-athlete-sell-nft


In addition to acquiring ownership of the "Luka Garza Consensus National Player of the Year Card," the highest bidder of the auction was awarded the opportunity to meet Garza, compete in a game of H.O.R.S.E against him, share in Garza's meditation techniques and attend a dinner and movie with him. The winner also gets a lifetime "VIP pass" to all future basketball camps hosted by Garza, as well as an autographed pair of the shoes he was wearing when he broke the all-time Iowa men's basketball career scoring record.

 

[GoodOl'Rutgers]

I have not followed this closely.. but theres a MMO game that maps their credits to US dollars..

 

[NickRU714]

Now this is a NFT that could actually have value.
Mobley will be a Top 5 (3?) pick in the NBA.
Mobley's value is only increasing while Garza is becoming more and more irrelevant in baskstball with each passing day.

https://www.latimes.com/sports/usc/story/2021-04-16/usc-evan-mobley-declares-for-nba-draft