NBA Top Shot - High Risk, High Reward?

[rifleman69]

Originally Posted by BBases31

Lol there's no token dude

So they just magically "exist" on the etherum blockchain?

[BBases31]

Originally Posted by rifleman69

So they just magically "exist" on the etherum blockchain?

Magically? What? They're on the eth blockchain.

[rifleman69]

Originally Posted by BBases31

Magically? What? They're on the eth blockchain.

So the token is ETH. The thing that you said doesn't exist. Got it.


Hey sorare, hire someone who knows what crypto is!

[BBases31]

https://twitter.com/TheFirstMint/sta...tz_U3_gOtglFuA

[rifleman69]

Originally Posted by BBases31

https://twitter.com/TheFirstMint/sta...tz_U3_gOtglFuA

It's almost all soccer.

[BBases31]

Originally Posted by rifleman69

It's almost all soccer.

Of course. They're 3 years into soccer. NBA has been live for two weeks. Same product, same concept, same company

[rifleman69]

Originally Posted by BBases31

Of course. They're 3 years into soccer. NBA has been live for two weeks. Same product, same concept, same company

They don't correlate.

[BBases31]

Top Shot volume incredibly weak right now

[hobbytime]

Earlier today, Dapper Labs Founder and CEO Roham Gharegozlou sent this letter to team members.

Hi everyone,

As we continue to grow and adapt, I have promised that I’ll always be transparent with you. Today, I unfortunately have very sad news to share. As part of a broader refocus of our strategy and reorganization of our teams to better serve our communities, we have made the difficult decision to reduce our team size by 22%.

All notification emails have already been sent, and all conversations with departing team members will happen within the next 2 hours wherever possible given regional dynamics. If you have not received a notification, you are not impacted.

I want to share with all of you how we’ve come to today’s decisions, the impacts of those decisions and where the business will be focused as we look forward.

These reductions are the last thing we want to do, but they are necessary for the long-term health of our business and communities. We know web3 and crypto is the future across a multitude of industries –– with 1000x potential from here in terms of mainstream adoption and impact ––– but today’s macroeconomic environment means we aren’t in full control of the timing.

In addition, our company grew incredibly fast –– from 100 to over 600 employees in less than two years –– introducing operational challenges which prevented us from being as aligned, nimble and community-driven as we need to be. I take responsibility for that, as well as for the difficult decision to do this layoff and restructure our business to better serve our communities.

#@
#@How reduction decisions were made

Because this decision impacts our people, we took a very deliberate approach in looking at our business today and our future business needs to assess how each team is mapped to our strategy, where we are focusing our energy and the critical skills we need on the team to succeed.

Across every business line, we went back to basics and asked ourselves 1/ does this serve the global priority of mainstream web3 adoption? and 2/ are we leaning into what we do best and what our technology is made for.

Based on this, we streamlined and focused our product strategy around a more sustainable cost structure. We then mapped the product strategy and cost structure to individual teams and team members, making difficult decisions based on the skills and capabilities we will need for our business ahead.

Across Dapper Labs, we are doubling down on what will move the needle and get the whole industry to its next inflection point –– and pulling back on everything that doesn’t fit that focus. While we are ourselves taking big swings to 10x the market size, we also need to become a focused, streamlined organization that lets us get to profitability, control our own destiny, and sustainably build toward achieving our mission, no matter the economic conditions over the next few years.

To team members leaving

Thank you from the bottom of my heart for everything you’ve done for our mission. I’m deeply sorry we have to part ways. You have been colleagues and partners, many of you are shareholders, and you will always be friends of the company. I value and am incredibly grateful for each of your contributions to Dapper Labs and the part you’ve played in getting us to where we are today. I want to be clear that today’s decisions are in no way a reflection of your work. Your next team will be lucky to have you.

To support departing team members, we have worked to create a package of benefits so you can receive compensation, health and other benefits from Dapper Labs while you seek your next opportunity:

Generous compensation: this includes three months severance for full-time employees
Health continuation benefits: six months of COBRA for US team members and comparable benefits for international full-time employees
Resume and career coaching: We have engaged an external professional services provider that has already been ramped up and is ready to support outgoing team members at every step of their next search.

Talent directory: We will be creating a public website (opt-in) to help support departing employees in finding new roles

Alumni support: We will engage as a team to help and use our networks and executives’ networks to connect dots wherever possible

Mental health benefits: This will vary by health provider, but at minimum every outgoing employee will have access to four months of digital counseling.
#@
To team members staying

Today is an incredibly difficult day and it’s going to be hard to say goodbye to people we’ve worked closely with –– it’s OK to take time to be there for our colleagues who are leaving. Your team leaders will be hosting Office Hours in the afternoon so we can come together as teams. Tomorrow at our regularly-scheduled All Hands 11am PT you’ll hear from 20+ leaders across Dapper Labs about the path ahead. We will also host Q&A, so you can submit questions live or in advance via dap.pr/aaa.

We are builders with a mission that is more important than ever. Putting a web3 wallet in every pocket is how we empower the next billion communities and the creators who serve them to control their own digital worlds. Our full-stack product strategy is how we do things the market can’t: we start from the user and work our way back to whatever technology is needed to enable a great experience. The refocusing of our organization will let us achieve every milestone sustainably: web3-native, mobile-first, and community-driven.
#@
With gratitude

Roham

From earlier today from Roham.

Thoughts on everyone using the platform?

[tjforce]

Originally Posted by hobbytime

From earlier today from Roham.

Thoughts on everyone using the platform?

I've seen layoffs happen in much harsher fashion.

Probably a necessity. Momentum has slowed so quickly that it was inevitable.

[hobbytime]

Originally Posted by tjforce

I've seen layoffs happen in much harsher fashion.

Probably a necessity. Momentum has slowed so quickly that it was inevitable.

Is this something we can look at the leadership for blame/fault?

They have been called out for plenty of mistakes over the last 2 years. And the IRacer77 scandal wasn't a good look for them.

I don't know, this platform might be in trouble as people gravitate back to more physical cards than NFTs.

[KhalDrogo]

He’s going to 10x the market back to what it was? LOL.

People didn’t want NFTs. They wanted the vehicle to make money that NFTs represented for a brief period of time. This is a risk off world until it’s not. NFTs, crypto, unicorn tech, etc. do not fit the current environment.

[hobbytime]

I think one of their downfalls was hiring customers. What did Packrip Ewing or Andy B have to become a part of their team without having to get rid of their inventory or at least stop selling or buying. Isn't this seen as a huge conflict of interest? I'm glad we can have a good discussion here as I noticed on their sub reddit, one of their mods deletes topics that don't fit their discussion.

[ninjacookies]

Imagine being laid off as a scapegoat for the tulipmania .gif landscape.

Roham smoking that good good.

[rifleman69]

Originally Posted by hobbytime

From earlier today from Roham.

Thoughts on everyone using the platform?

Layoffs are happening all over, Dapper isn't immune to it.

[BBases31]

Originally Posted by KhalDrogo

He’s going to 10x the market back to what it was? LOL.

People didn’t want NFTs. They wanted the vehicle to make money that NFTs represented for a brief period of time. This is a risk off world until it’s not. NFTs, crypto, unicorn tech, etc. do not fit the current environment.

They sure do, they just don't want an NFT "asset" that's just a picture or video and nothing else. Sorare has grown the entire year through the collapse of value of every other NFT. Sorare gives an implicit ROI to the asset. Sorare went up while everything else went down.

Originally Posted by rifleman69

Layoffs are happening all over, Dapper isn't immune to it.

Sorare is hiring for a ton of positions and hasn't laid anyone off

[Paderborn1907]

Originally Posted by BBases31

They sure do, they just don't want an NFT "asset" that's just a picture or video and nothing else. Sorare has grown the entire year through the collapse of value of every other NFT. Sorare gives an implicit ROI to the asset. Sorare went up while everything else went down.



Sorare is hiring for a ton of positions and hasn't laid anyone off

Yeah Sorare is growing, but it’s also different since it’s gamification/gambling.

DapperLabs (especially Topshot) lost track and are neither true good collectibles (like Candy or Panini) nor good gamification tokens.

[ninjacookies]

Originally Posted by Paderborn1907

Yeah Sorare is growing, but it’s also different since it’s gamification/gambling.

DapperLabs (especially Topshot) lost track and are neither true good collectibles (like Candy or Panini) nor good gamification tokens.

Updated thoughts on the Panini NFT platform?

I'm honestly looking to liquidate my port. Are there far less buyers using the crypto wallet?

[Brobocop]

Originally Posted by ninjacookies

Updated thoughts on the Panini NFT platform?

I'm honestly looking to liquidate my port. Are there far less buyers using the crypto wallet?

I think Panini has very low liquidity. I buy a pack here and there to fill the itch and am probably at a slight loss overall. I wouldn't touch anything Dapper at the moment.

I remember people laughing at folks like Rifle and I for bagging on Top Shot. My number one concern was sinking in a ton of money into the platform and Dapper just folding. Feel like today took a step toward that direction.

The big pumpers of Dapper and Top Shot have fled rather than eat crow.

[ninjacookies]

Originally Posted by Brobocop

I think Panini has very low liquidity. I buy a pack here and there to fill the itch and am probably at a slight loss overall. I wouldn't touch anything Dapper at the moment.

I remember people laughing at folks like Rifle and I for bagging on Top Shot. My number one concern was sinking in a ton of money into the platform and Dapper just folding. Feel like today took a step toward that direction.

The big pumpers of Dapper and Top Shot have fled rather than eat crow.

Yeah. I noticed most Panini base cards and inserts don't have a recent sale for the past several months. Honestly wish I could source a whale to unload the entire port to. Just want to get out of this whole nft space completely.

[rifleman69]

Originally Posted by Brobocop

I think Panini has very low liquidity. I buy a pack here and there to fill the itch and am probably at a slight loss overall. I wouldn't touch anything Dapper at the moment.

I remember people laughing at folks like Rifle and I for bagging on Top Shot. My number one concern was sinking in a ton of money into the platform and Dapper just folding. Feel like today took a step toward that direction.

The big pumpers of Dapper and Top Shot have fled rather than eat crow.

Yep, they all just up and left because they got burned.

[rifleman69]

Originally Posted by BBases31

Sorare is hiring for a ton of positions and hasn't laid anyone off

Sorare is not immune. Honestly it sounds like they didn't have enough help to begin with, with all of those job openings.

[BBases31]

Originally Posted by rifleman69

Sorare is not immune.

You may not like it but they are completely immune to whatever happens to the rest of the NFT market. During the biggest NFT collapse ever earlier this year the Sorare market went up

[Paderborn1907]

Originally Posted by ninjacookies

Updated thoughts on the Panini NFT platform?

I'm honestly looking to liquidate my port. Are there far less buyers using the crypto wallet?

I‘d wait until the Fanatics rumors are either confirmed or go away.

Brett recently confirmed a few features that are on the roadmap and will come soon (new homepage, debut badges etc.). Also Whales still going after the big name challenges and the new utility with the Golden Tickets.

They‘ve to go through crypto/NFT Winter like all other projects as well and the vast majority of people are holding.

[ninjacookies]

Originally Posted by Paderborn1907

I‘d wait until the Fanatics rumors are either confirmed or go away.

Brett recently confirmed a few features that are on the roadmap and will come soon (new homepage, debut badges etc.). Also Whales still going after the big name challenges and the new utility with the Golden Tickets.

They‘ve to go through crypto/NFT Winter like all other projects as well and the vast majority of people are holding.

Bro. Fanatics rumor? Isn't that like a few years out?

Honestly I'm scared about what the NFT market is going to look like a few weeks from now.