NBA Top Shot - High Risk, High Reward?

[BaseGravenberch]

Well, I'm verified and my withdrawal is working.

Originally Posted by Brobocop

Are you able to sell packs?

Not yet, unlike the other guy said they expected it to be ready before the rookie badges. Wouldn't be surprised if it happens somewhere this month. Unless the pack drop system caused major delays.
Going to be interesting to see the market for that.

[Howie7107]

Originally Posted by BaseGravenberch

Well, I'm verified and my withdrawal is working.



Not yet, unlike the other guy said they expected it to be ready before the rookie badges. Wouldn't be surprised if it happens somewhere this month. Unless the pack drop system caused major delays.
Going to be interesting to see the market for that.

What was your join date? Curious as to when I can expect my money to not be held hostage.

[BaseGravenberch]

Originally Posted by Howie7107

What was your join date? Curious as to when I can expect my money to not be held hostage.

I was in since the closed beta, but I never deposited anything, only bought a few packs with crypto and now I'm freerolling. I think it's available for everyone to do verification right now, for me it gave me the option after I pressed withdraw.

[gamboooler]

After reading about some of these people getting their accounts shut down for buying off market, think it's probably best to avoid those type of transactions. Just a heads up.

[n1nesports]

First people were like "it's no different than cards"
now people are like "I'm selling my stash and never coming back"
guess it was all for the money to begin with lol

[Vinny1984]

Originally Posted by n1nesports

First people were like "it's no different than cards"
now people are like "I'm selling my stash and never coming back"
guess it was all for the money to begin with lol

I’m not sure I follow your argument. The idea behind it was/is a success. The execution by the company was/is piss poor. They got too big too fast and are just playing catch up at this point. The $2.5 million money grab disaster last week didn’t help their cause.

[grade]

Check your Lamelo. Prices going crazy.

congrats , you know who you are. $$$

[daeve]

Originally Posted by Vinny1984

I’m not sure I follow your argument. The idea behind it was/is a success. The execution by the company was/is piss poor. They got too big too fast and are just playing catch up at this point. The $2.5 million money grab disaster last week didn’t help their cause.

Yeah I just want some consistency. Not a fan of these emails with "packs drop in 1 hour!" and I'm at work... I guess if they only aim to please the crypto/sneakerflipper crowds who sit online all day then they're doing a great job. Some of us still live in the real world a little bit

[rifleman69]

Originally Posted by gamboooler

After reading about some of these people getting their accounts shut down for buying off market, think it's probably best to avoid those type of transactions. Just a heads up.

Duh, you are supposed to allow TopShot to get their share of every transaction.

[The Accountant]

Originally Posted by grade

Check your Lamelo. Prices going crazy.

congrats , you know who you are. $$$

dang! i sold at about half of the go rate! that's crazy

[dmanrico]

Originally Posted by Vinny1984

I’m not sure I follow your argument. The idea behind it was/is a success. The execution by the company was/is piss poor. They got too big too fast and are just playing catch up at this point. The $2.5 million money grab disaster last week didn’t help their cause.

This is the biggest game of hot potato you’ll ever see. Would love to see what the average hold time is per moment. Way too early to say that the idea is a success. Won’t know viability of this product until the hot potato stops and people can’t sell their acquired moment within days for a profit.

[Vinny1984]

Originally Posted by dmanrico

This is the biggest game of hot potato you’ll ever see. Would love to see what the average hold time is per moment. Way too early to say that the idea is a success. Won’t know viability of this product until the hot potato stops and people can’t sell their acquired moment within days for a profit.

There’s always going to be hot potato in every market. Prices have stabilized for the most part. The guaranteed flip for massive ROI is long gone and there are still plenty of people hanging on to the tune of 17,000 transactions the past 24 hours. There were also 25000 buyers lined up for a $1k pack. I would deem that a pretty successful start to an idea that is just materializing. Only reason I’m watching from the sidelines is I don’t think they’ll be able to increase their man-power fast enough to keep up. Someone will but I don’t think it’s them.

[dmanrico]

Originally Posted by Vinny1984

There’s always going to be hot potato in every market. Prices have stabilized for the most part. The guaranteed flip for massive ROI is long gone and there are still plenty of people hanging on to the tune of 17,000 transactions the past 24 hours. There were also 25000 buyers lined up for a $1k pack. I would deem that a pretty successful start to an idea that is just materializing. Only reason I’m watching from the sidelines is I don’t think they’ll be able to increase their man-power fast enough to keep up. Someone will but I don’t think it’s them.

You cannot judge a product’s success in an environment where all of the customers initial experience is one where they are literally printing “money” (albeit they may not have access to that money). Of course everyone wants this product and are lining up for packs They can immediately sell them for a substantial profit. That is a poor proxy for product success. You won’t know the viability of this product until you have a legitimate downturn. At that point we will be able to gauge whether people actually believe in the product, or abandon it all together now that the easy money is gone.

[WallyatJCCards]

Originally Posted by gamboooler

After reading about some of these people getting their accounts shut down for buying off market, think it's probably best to avoid those type of transactions. Just a heads up.

C'mon now, a real Gambler would never say that. :-)

[notoriousrmb]

Originally Posted by BaseGravenberch

I think it's available for everyone to do verification right now, for me it gave me the option after I pressed withdraw.

Still a no-go for me and I've been in for a while.

[The Accountant]

anyone on here have ability to cash yet?

[marlinsmaniac20]

I own all of your highlights on youtube for free.99. Gg

[Howie7107]

Originally Posted by The Accountant

anyone on here have ability to cash yet?

Not I. Despite their insistence that it's a priority, I highly doubt it. This isn't to say I think we're being scammed either. Just tilting my face off watching BTC skyrocket over the past 2 weeks while I have so much money stuck in my Dapper Balance.

[volblorx8634]

Originally Posted by n1nesports

First people were like "it's no different than cards"
now people are like "I'm selling my stash and never coming back"
guess it was all for the money to begin with lol

Was there ever a point when it wasn't all about the money?

[Howie7107]

Originally Posted by volblorx8634

Was there ever a point when it wasn't all about the money?

Sure. Just because you can't see its utility doesn't mean that it doesn't exist, because it certainly does. There's a market for sports collectibles. Physical collectibles currently hold almost all of the market share. Digital collectibles solve quite a few of the problems that plague the physical collectibles space. It's not that difficult to see that digital holds at least some value in the long-run (done properly, looking at your TopShot), and therefore will eat away at at least some of the market share of physical collectibles. You also need to look at how younger generations that will soon come into money will collect. Most of them grew up and currently live their entire life on the internet and have absolutely no interest in physical collectibles.

[volblorx8634]

Originally Posted by Howie7107

Sure. Just because you can't see its utility doesn't mean that it doesn't exist, because it certainly does. There's a market for sports collectibles. Physical collectibles currently hold almost all of the market share. Digital collectibles solve quite a few of the problems that plague the physical collectibles space. It's not that difficult to see that digital holds at least some value in the long-run (done properly, looking at your TopShot), and therefore will eat away at at least some of the market share of physical collectibles. You also need to look at how younger generations that will soon come into money will collect. Most of them grew up and currently live their entire life on the internet and have absolutely no interest in physical collectibles.

That was not a comment at all about the utility of the product or its collectability. I'm all for people collecting whatever they want! Physical cards, digital cards, gifs, memorabilia, rocks, whatever.

But the collectability of TopShot and people utilizing it for the money and profit are not mutually exclusive.

[Howie7107]

Originally Posted by volblorx8634

That was not a comment at all about the utility of the product or its collectability. I'm all for people collecting whatever they want! Physical cards, digital cards, gifs, memorabilia, rocks, whatever.

But the collectability of TopShot and people utilizing it for the money and profit are not mutually exclusive.

So what's your point? The same can be said for collecting pretty much anything.

[volblorx8634]

Originally Posted by Howie7107

So what's your point? The same can be said for collecting pretty much anything.

Totally, I was just responding to someone saying he guessed it was all about the money to begin with. I was simply agreeing. Seems like everyone was participating for the money. There's no point, it's just an observation.

[gamboooler]

They keep talking about a 1k max withdrawal... thought it used to be 10k? Wouldn't know since I'm not approved yet, although should be within a week or so. Allowing infinite deposits but capping withdrawals at 1k is absolutely ridiculous especially when you get hit with a fee each transaction.

[dmanrico]

Originally Posted by Howie7107

Sure. Just because you can't see its utility doesn't mean that it doesn't exist, because it certainly does. There's a market for sports collectibles. Physical collectibles currently hold almost all of the market share. Digital collectibles solve quite a few of the problems that plague the physical collectibles space. It's not that difficult to see that digital holds at least some value in the long-run (done properly, looking at your TopShot), and therefore will eat away at at least some of the market share of physical collectibles. You also need to look at how younger generations that will soon come into money will collect. Most of them grew up and currently live their entire life on the internet and have absolutely no interest in physical collectibles.

You're hitting on something here that is really important and the answer we're all waiting to see - whether there is intrinsic value with the TopShot "moment."

The collectible market has it's up and downs like any asset. But at the end of the day, even in a very down market, there is still intrinsic value to a collectible. Someone will still believe that a Jordan jersey, a trading card signed by Jordan, etc has value, and consequently will want to own it.

We don't know this yet about a TopShot moment. As I mentioned in an earlier post, since the outset, this thing has seen nothing but dramatic price appreciation. Consequently, it is impossible to separate the undeniable mass interest in the product between intrinsic value and pure quick flip profit interest.

The interesting nuance is that the underlying asset only exists as a digital form itself. I know some have argued that many card collectors utilize card vaults and never take direct ownership of a card they purchase - they only experience the card in digital form, so it's similar to TopShot. While true, I don't think this is a good example as the card owner knows there is a tangible underlying asset to the digital picture. This is not the case with TopShot. With TopShot, the underlying asset is the Digital image itself.

Yes I understand the implications of blockchain and that each moment is uniquely identified and consequently can be "owned," but this is still separate from intrinsic value. The Mantle that someone owns in a vault and shares online via picture is still backed up by a tangible asset. The TopShot moment that someone owns is the asset itself.

So what happens when the inevitable price decline occurs (whenever that occurs - could still be a long time from now)? Will people look at the "moment" as a real asset and maintain a desire to own? Ready to swoop in when they feel the market has bottomed out? Or will they classify a moment as a digital clip to be consumed like other digital clips. I really don't know the answer to this. Will be fascinating to watch play out.