I got early access to official NBA licensed NFT collectibles with NBA Top Shot back in August, and I'm back with an update! This post was inspired by fellow author, PVMihalache, who wrote about NFTs recently.
What is NBA Top Shot?
Graphic 1: Tweet by NBA Top Shot
If you are like me (or PVMihalache) you may remember cardboard player cards that have a static photo on one side, and some printed text on the back. If you are a millennial, then you most likely feel that hard copy prints are things that should stay in the 20th century! For this new generation of hoops fans, the NBA is taking the next step in the evolution of the sports collectibles market by using blockchain technology. Their latest venture combines video footage of this season's most dynamic plays with statistical data that fans crave. The result are fully-licensed digital NFTs called Moments. Superstars and reserve players alike will have unique Moments that can be purchased, sold, or traded. The appeal of using blockchain is that authenticity, quantities, and ownership of each Moment are preserved. Collectors will eventually be able to use Moments which they own in a yet to be released mobile game.
The experience I had opening a pack of Moments was enjoyable. Admittedly, it's hard to replicate those emotions when you watch a video of someone else doing it, such as the one below, but you have to believe me when I say it was fun. Remember, I spent a pretty penny to buy my Holo MMX pack!
How can I tell which Moments are worth more?
Each Moment has a unique circulation number. There can be many copies of the moment, but each one has a unique number that it was minted with. The lower the number, the more valuable it is. For example, #1 out of 299 will hold more value than #100 out of 299.
Some Moments have been "burned", or taken out of circulation. So instead of a current circulation of 299 copies, there may only be 280 copies. Gaps will appear in the serial numbering when looking at the blockchain.
The higher the popularity of the player, the higher the value of their Moment compared to less popular players.
Moments are differentiated by three different editions:
1. Nba Top Shot is now open to the public
I joined in August, allowing me to acquire three Metallic Gold LE Moments, and one Legendary Holo MMXX Moment. However, NBA Top Shot is now open to the public. It's not too late to buy the Moments or select packs of Moments that you love.
It's notable that some Moments can be purchased on the Marketplace for a few dollars if you are on a budget.
2. Unsold Early Adoptor packs have been burned
Early Adaptor packs were selling until September 30. All of those packs that remained unsold were burned.
3. Packs can now remain sealed
When you purchase a pack of Moments, you can now keep them sealed. Sealed packs can be gifted, sold, or opened at a later date.
4. Flow tokens available for purchase
The Flow blockchain token (FLOW) is now offered for sale outside of the US, to non-US citizens. Biding is open now only at CoinList, and live auction begins Oct 6, 2020.
5. Premium Pack Drop 2 & Western Conference Finals moments dropped on Oct 1, 2020
The Western Conference Finals packs dropped yesterday, along with Premium Pack Drop 2. At time of writing, there are 5,645 of 8,991 packs remaining, but all 1,492 Premium Pack Drop 2 sold out quickly.
My strategy for the next few weeks
Eastern Conference Finals packs will drop soon, followed by NBA Finals packs after that. I'm still on a budget, since I don't have much space cash most of the year.
1. Wait for NBA Finals Moments to drop
I personally feel there will be value in buying the first NBA Finals Moments on blockchain. It will be interesting to see how they are priced.
2. Keep an eye on NBA Finals MVP presentation
If the MVP for the finals is not LeBron James, the value of their individual Moments should go up in value. Being named Finals MVP often springboards a player to new heights in future seasons if they train hard in the offseason, and stay disciplined. At the moment, leading candidates other than LeBron James (current odds -200) include Anthony Davis (+140), Jimmy Butler (+2,000), and Bam Adebayo (+3,000). Current odds from DraftKings Nation.
3. Watch for the last Showcase challenge
If I am able to collect enough Moments to complete the last challenge, I just may try that this month. It's worth a shot to win a unique Moment.
Is there a market for these NFTs?
I'll let you judge for yourself by looking at Cryptoslam, and on the NBA Top Shot Marketplace:
Graphic 2: Screen capture from Cryptoslam showing Zion Willaimson Cosmic (Legendary) transaction
Graphic 3: Screen capture from NBA Top Shot Marketplace showing LeBron James Cosmic series (Legendary)
Thanks for reading, and stay safe! If you would like to support my work, please hit like 👍 and follow me on Publish0x! 😊
You can also follow me on Twitter: @CryptoWordsmith
Last edited on Oct 18, 2020
Cover photo by NBA Top Shot
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