NBATopShot: Time to Ape In!
There has never been a better time than right now to absolutely ape into NBATopShot’s NBA licensed collectibles.
by TheCommonKing
Right out of the gates, I must disclose that I am a avid (borderline degenerate) fan of NBATopShot (TS) and their products. However, I am writing this of my own accord and, hilariously, have never been given any type of compensation from NBATopShot nor any company or entity in connection with it. Not even a modicum of luck from “rippin them sweet, sweet packs!”
Oh, yeah, and disclaimer: nothing here should be considered financial advice. If you were to take financial advice from me, you likely are the type of person to help a Nigerian prince after receiving a random email; I’m just some guy on the Interwebs saying things.
The Briefest of NFT Histories:
Way back in olden times, 2021, it was the year of the blockchain. By now, many of you reading this and your friends readily use terminology such as NFT, blockchain, crypto exchange, swap, stable coin, and shitcoin. What a world - am I right?
According to a great article on The Block, by MK Manoylov, NFTs started going mainstream around 2017 on the Ethereum blockchain. CryptoKitties was actually the very first blockchain game and mainstream use of NFTs. Pssst — CryptoKitties is produced by Dapper Labs; they make NBATopShot too.
The game provided the first mainstream use of NFTs for recreational purposes and introduced the concept of unique digital assets to a broader audience. CryptoKitties demonstrated the potential of NFTs in representing individuality and rarity, setting the stage for later NFT booms. (Manoylov)
For those still catching up, NFT is short for non-fungible token - obvi, right? Still lost? Well, things that are fungible can be traded or swapped for exactly the same thing. For instance, my one Ethereum is equal and identical to your one Ethereum. We each own 1 of the exact same thing; it would be like swapping a quarter with each other. Apply this to all crypto coins, for thems thare be fungible tokens afoot. However, an NFT being non-fungible, it means that my NFT is completely different from your NFT.
An easy way to wrap your head around the world of NFTs as it applies to art or collectibles is to imagine that I have a one-of-a-kind Babe Ruth rookie card, serial number 1, and you have a one-of-a-kind Micky Mantle rookie card, serial number 1. While we both own rookie baseball cards, and both are serial number one, my number 1 will never and can never be your number 1, for they are completely different.
Because they are non-fungible?
Yes, that is correct! They are not the same, never will be the same, nor could they be made to be the same. Brain broken yet? That last part is incredibly important when it comes to art and sports collectibles specifically, since one of a kind items in these categories can fetch insane money; Beeple NFT artwork selling for $69 million has entered the chat. How this all works is through blockchain technology. Now, this is a rabbit-hole I refuse to go down with all of you, I see your eyes glazing over already. So, I will leave that job to the uber, ultra, mega nerds out there, but I can summarize it like this. Essentially, a blockchain is a massive data warehouse that also serves a public ledger. This ledger records all the ownership information and transaction history that connects a digital wallet to every NFT. The ledger aspect guarantees authenticity and prevents duplication.
Homer Simpson would have screamed “Booooooring” by now…sorry. Now on to the good stuff!
NBATopshot, The Beginning:
In the beginning…there was only cardboard, and darkness, but mostly cardboard.
Admittedly, we are talking about a product that still considers itself in BETA. So, to view the TS timeline as a beginning, middle, and end seems a bit trite. It is better to think of this product as a beginning and present. First and foremost, any tech related, even tech adjacent, product on the market that does not grow is destined to die out. And change TS did.
Originating in 2019 as an announced plan, and primarily developed in 2020, the platform saw its user base rise to 1 million in February of 2021. Keep in mind, the public launch was in October of 2020. That is just four months! This is a story told in the same way that fledgling business owners spin the tale of Bezos starting Amazon out of his garage. But, this is also when TS saw massive changes as well, and a company that can change is likely to survive in the tech industry.
The Early Days:
2021 saw massive shifts in focus for the company as cash to the tune of hundreds of millions rolled in. The cadre of employees, some that had been pulled right out of the fanbase, seemed comfortable with reasonable risk taking. 2021 saw in person summer league kiosks to purchase moments, fandom tier moments were added, the Nine Lives Lounge was established, and most notably, the WNBA was included in the action. Additionally, TS started raising eyebrows with the SEC; in major part a function of being so cutting edge that the law get as murky as TheCommonGrandma’s split pea soup. The SEC filed a lawsuit that same year. To finish 2021, TS took a chance with the mint-to-order Dwayne Wade mintpocalypse which produced well over 200k of a single moment. To cap the rollercoaster of a year off, TS then dropped series 3 in December and began leaderboard competitions and tracking. 2022 was another big year in that introduced arguably one of the most important and impactful mechanisms for the product to sustain any kind of long-term viability — moment burning. Prior to this, things were kinda weird. You would essentially send your moments to a dead wallet called “The Locker Room,” but it didn’t decrease the mint as much as it decreased the circulation. That same year Kevin Durant became the face of TS, dropped some sick ads, and by November we had “The Great NBATopShot Burn” where users burned 2.5 million moments from the platform.
That next year, 2023, saw the public release of the TS app, the pack marketplace, and revamped moments explanations and/or descriptions. Looking at Series 1, the expanded explanations alone were a massive upgrade from the company’s minimalist approach on their initial rollout. Even the pack drops got better. Originally, a collector had to sit at work like a complete lunatic staring at their phone to make sure they didn’t get arbitrarily booted from a pack release queue. Pack drops in 2020 all the way into 2023 were notoriously messy. But, weirdly, the uncertainty added to the charm of it all. The latter part of 2023 started seeing a streamlined pack purchase experience.
All of these great changes can’t be mentioned unless we talk about the importance of third party TS development with Flowty (flowty.io), LiveToken (www.livetoken.io), and Own The Moment (www.otmnft.com). These three sites offer ever evolving synergy with TS, dapper wallet, and moment collections. Each serves an essential service within their own right. While LiveToken and OTM both aggregate collectors’ account values and market trends, Flowty has a type of synergy with both in that it is the only marketplace currently selling moments for less than 1$. Therefore, it’s sales data is imperative in assessing the true value of collector accounts. Additionally, Flowty has moved into renting and loans for moments which is a whole new territory. Not to be understated, while LiveToken is a basic, easy to use, and completely free service, OTM is also a free service with paywalls for advanced features. OTM has developed into a Dapper Wallet Mecca, a one-stop-shop where contests, account analysis, market trends, and just about anything one could ever want, not only exist, but they exist for both NBATopShot and its younger sibling, NFLAllDay. Don’t forget to snag a Jolly Joker. A veritable mushroom cloud of third party development has evolved out from TS since 2019.
Regardless, it is very likely that much of what NBATopShot has accomplished will go down as canon from which all other projects will be judged in the same way we all still say “fridge.”
NBATopshot, The Now:
So, where are we today? With all the updates to the website, all the functionality changes, where does the company stand? Well, there has never been a better time than right now to absolutely ape into NBATopShot.
At the time of writing this article, common entry into TopShot is completely viable for all income classes. Arguably, you could start a solid collection for just 100$. Special serials range from 15$ for perfect-mints to 50$ for jersey serials. First mints are also running for 100$ entry points. Meanwhile star players can be purchased for under a dollar. Furthermore, you no longer need to be an uber-whale to own the rare Top Shot team debut moments. For example the Boston Celtics TSD rare team moment can be picked up for around 15$. In some cases, Lebron common moments are selling for-or-at under a dollar, really cool rare moments minted to just 400 are selling for under 50$, and legendary moments can be sniped up for around $80 to $100 depending on the player or team. Here are some more specific examples as of mid January:
- Dynamic Duo (Rare). Warriors, #58, TS Debut Badge, Championship Badge = 25$
- Dynamic Duo (Rare). Lakers, #545, TS Debut Badge, Championship Badge = 25$
- Base Set 1 Common), Vince Carter #1375, TS Debut Badge = 32$
- Base Set 23/24 (Common), Wemby #2552, 4 Badge Rookie = $170
- Run it Back (Rare), Durant #58, TS Debut Badge, Challenge Reward Badge = $1,085
- Metalic Gold LE S1 (Rare), Lebron #16, TS Debut Badge, Championship Badge = $1,800
- Rookie Debut S4 (Common), Banchero #3859, 4 Badge Rookie = $35
I picked these seven moments because they were all an impossibility for me to ever purchase in prior years - I ain’t got no funds fo’ dat! Vince Carter’s last shot and first moment went for $1,399 back in August of 2021. Serial #155 sold for $7,500 in February of 2021. These prices were insanely prohibitive for entry into collecting anything of any value. The Dynamic Duo moments are the kind of cool moments collectors - not flippers - enjoy holding on to. The Warriors moment mentioned went for $190 back in November of 2022 and the Lakers moment went for $168 back in February of 2023. Likewise, Wemby and Paulo rookie moments (both generational talents) went for astronomical prices at their releases. It should also be noted that the serial #158 of the rare Lebron debut moment sold for $69,999 back in February of 2021. In the wise words of some weirdo I once met at the deli counter, “that’s a lotta’ cheddah.”
What is Going Great:
To me, a mere plebeian collector when compared with whales the likes of @bostonbased420 or @Banana_Mac_ , I feel like TopShot is finally firing on all cylinders. Pack drops seem streamlined, the app UI and functionality is on point, moments are exciting, and the price is right - if buying. Not to mention the cheap entry and low risk fantasy game FastBreak with real weekly rewards of packs and/or dapper balance. It is a truly fun experience; I find myself battling with IRL friends about our lineups and ringing the shame-bell (obscure Game Of Thrones reference) loud and proud whenever my lineup comes out on top. One can even join fellow collectors’ private leagues to compete right in the app. I can’t remember the last time I felt truly frustrated with anything TopShot related aside from making the cut for a pack drop - we are so back baby! The recent addition of sound to the moments is absolute fire. Albeit only the court sound — shoe squeals and fan reaction —it makes these moments in time more of just that, a captured moment in time. Hey, everyone loves to hunker down to a good old Charley Chaplin silent film, but show any man in 1910 a Michael Bey flick chock full o’ sweet sweet base, pyrotechnics, and color and they would go right from 6 to midnight. So too is the sound important to these moments.
The Duality of Innovation:
However, one of the platforms greatest assets is also its greatest weakness — being innovative. Being a first-of-its-kind platform, everything is a new idea. So, if the company is truly innovating, they are going to make mistakes. Innovation is key to the success of the company, but don’t just take it from me. Even whale collector @BostonBased420 (BB) agrees on the importance of innovation, “The key to sustaining interest long-term is building a strong community, executing on well-planned roadmaps, and constant innovation.”
When making changes for the first time, things can sting sometimes, such as making seemingly small tweaks to the ecosystem which have far reaching effects. TS score is a good example of this as the company applied a massive overhaul to how the score is assessed. To normies and passive collectors, this really has no great effect, but for dolphin and whale collectors, it makes a huge impact. The “how” is irrelevant, the point is that every change, regardless of how small, has far reaching effects. That means that not everyone will be happy all the time.
For instance, a recent questionable decision involved the recent holiday giveaway where a well known disgruntled collector - does he even collect anymore? - was gifted a high-end grail by the platform. I say, great for him! At least it is obvious the company isn’t playing favorites. However, the broader community had mixed feelings and provided some excellent advice for how to handle the holiday giveaways next year.
Another questionable decision was to gradually eliminate trade tickets. Personally, I see trade-tickets as a form of “burn-banking” where I can burn moments in preparation for a future burn related competition. Other community members don’t agree. As always, with all the changes made by TS, the online conversations are lively and passionate. However, these debates all have one thing in common, everyone wants TS to succeed. As BB notes, “There’s a lot of opportunities for the team to create something fun that brings users closer to the game, so I’m rooting for them to succeed.” Innovation does have drawbacks, but it remains the greatest tool TS has to chase success and sustainability.
These are tiny gripes of mine, like complaining about the color of your Mercedes - champaign worries. But — NEVER start sentences with “but” or “and” — do you know what happened as a result of each of these changes? The platform received excellent ideas and feedback from the community every time. And — shit, I did it again — this is where NBATopShot really shines! They always seem to listen to the very loud and very enthusiastic community.
The Community:
The NBATopshot community is something truly special. Where other NFT projects left me feeling the “ick,” with their Eyes Wide Shut type gatherings filled with hopeless, atomic-beta-nerds awkwardly swaying to indie hip-hop and sipping White Claws - the neo Zima - Top Shot achieved something completely different. They seemed to tap into a community already built around fandom, and therefore community building is much more organic. According to whale collector @bostonbased420, “the moments tie you to a network of other basketball fans, and the fanbase wants the product to succeed.”
For me, a Celtics fan is a Celtics fan. Stumbling out of a pre-game “sesh” at Half Time Pizza is a right-of-passage in Boston, as is wading through the “Pritch Please” and “Lebron’s a Douche” t-shirt stands. Anyone willing to pay 20$ or more to park after dropping a few hundred on decent tickets is my people. And - uh, I did it again - that is what sets this NFT project apart. There is something connective to it all - inherently. I don’t really know these random people in my Twitter - er, X - feed. However, that dopamine hit of posting my latest snipe of a cool moment and getting a lit BB meme comment, or a @collectn_connctn “attaboy” is priceless, and it is fun. Sure there are some complainers out there, a healthy community always has them, but they never sink the ship. People like @Banana_Mac_ (BM) and groups like @collectn_connctn are the backbone of this organically growing community. Here I am, a grown man, always excited to throw my name into a random drawing for a free moment giveaway. Why? Because the moment is cool or priceless? Nah, it’s because it serves as a fun way to be part of something bigger, something completely different, an offramp to the daily grind of smalltalk soliloquies that dominate the work space.
NBATopShot, I have to come clean though. Real talk - I have been cheating on you. I am a weak man. I have been fooling around a bit with Panini lately and, I have to say, they got a ton right. However, there is no comparison to the TopShot community nor its product - none. My Panini analysis is a blog on the way, I’ve already started, so I will save that for another time. However, the truth is that TopShot has something special, something I have not seen replicated, something that is easy for normies, tech-geeks, collectors, whales, and flippers alike. According BM “I think the market is there and will only grow with the continued adoption of cryptocurrency etc. I think the fact that they are licensed with the NBA is huge too, there’s really no other product out there like it. TS is special.” She is right, it is truly special. There is something there for everyone. Collectors like Matt Roth (@KingsofCardio), and @TSBramira1 bring market and user sentiment analysis to new heights for the truly degen-collectors, while people like BM, @TopShotKingdom, @GiftGoatNFT, and @collectn_connctn are all churning out content and/or giveaways for all types of collectors, and they are not alone. Hell, I am not the only one writing articles on this stuff either. Bramia has fired out some of the most interesting material I have ever read; it is like getting a PhD in market analysis all in one article. Check it out HERE.
NBATopshot, The Future:
I am just a simple man, so there are just a few upgrades I personally would love to see in the near future, not the least of which is leaving the BETA status in the dust. In-app trading between collectors is something I think would be huge, even if there were a nominal cost associated with it. I would also love a better way to both digitally and physically flex my collection.
Nick from Crypto Slabs (@CryptoSlabs) is a major entry in the physical-flex realm. For 50$, he is shipping out physical slabs of the digital play. He can do this with sets, serial collections and/or team sets. From what I gather, he can pretty much do it all. The price seems to be a good fit too. Most grail moments are priced such that a 50$ investment to show it off makes sense — at least to me. Nick seems like a great dude too, always a bonus, and he is great at getting back to you on “X.”
There is also another product called Infinite Objects (IO). According to their website, the TS display will run you 100$ and you need to connect your digital wallet. The price isn’t ridiculous, but I like Nick’s personal touch and would defer to his product at half the price. Plus, the IO display is just that, a digital screen. Matt’s product is much more of an eye-catcher if it were sitting on a shelf or in a case. Again, this is just my opinion.
nifted.com is another option albeit much pricer - 180$ to 280$. However, the difference being that, as it states on its website, your NFT collection - either Ethereum or Flow blockchain - is connected to their app. You can then showcase up to 40 (Flow) NFTs or 30 Ethereum NFTs at once, on a loop, on the device. So, to me, this comes down to price over value. If I had 40, 1000$ grails, 280$ for a device to show them off might make sense. However, Nick’s production is absolute fire in that each slab looks like it is a graded card with a digital display.
To me, I would personally go with Nick and CryptoSlabs - that is my hot take - I’ve heard nothing but stellar things about the product and Nick! Plus, I am broke, so 50$ a pop seals the deal for me.
Whale collectors have some great advice for TopShot’s future. @BostonBased420 (BB) suggests, “TopShot should enhance the FastBreak experience with a scoreboard hub where you can monitor your performance against other community members while also showcasing your moments at play.” FastBreak seems to be a great area of upgrade for TS. BB continued, “Right now they have FastBreak Runs – I’d suggest that they create a theme for each ‘run’ and the winner can memorialize their victory with a specialized pin in their profile.” @Banana_Mac_ (BM) also noted further gamification as something for developers to focus on. “I would also love to see another form of a game in addition to FastBreak! I love FastBreak, but I think there’s other games they could develop. Why not a simple over/under?” I know there are many collectors out there with similar wishlists. Just try posting something online about your thoughts and prepare for a tsunami of interesting and constructive feedback.
Not to sound like a trite lil’ simp, but this feedback loop is what this is all about, the future of TS is now, unfolding each day, and its is being informed by an energetic and passionate fanbase that truly cares about the future of the product. According to BM, “There is a strong community within TS, and we need to continue to grow that!” So, as I said at the very start, “There has never been a better time than right now to absolutely ape into NBATopShot’s NBA licensed collectibles.” And — damn it, I did it again — hopefully after having read my little puff-piece article on the subject, you take a chance and enjoy the product and community as much as I currently am.
TheCommonKing OUT!
