Welcome to our first article about NBA TopShot. I, “NFT GOD”, have been playing fantasy sports for over 15 years, and I love the endless possibilities provided by NBA TopShot. For those new to NBA TopShot, you can check it out here www.nbatopshot.com. Briefly, a TopShot moment is a serialized GIF of the NBA’s best players draining a 3-pointer, dishing out an assist, making a block, breaking ankles, and/or throwing down a dunk.
So, how does that tie into fantasy sports? Although the Hardcourt App is not out yet, it is coming. In the meantime, NBA TopShot has partnered with www.Swyysh.com, who awards weekly prizes for best lineups – entrants choose five moments/cards from their collection. Points are based on assists, blocks/steals, 2-pointers, and 3-pointers. This is just the start: there are endless possibilities for the future, such as DFS, season-long leagues, and even an arcade style game.
Speaking of games, like NBA2K, NBA TopShot is partnered with the NBA. However, unlike NBA2K, your purchased players/teams do not expire at the end of the season. In other words, unlike that model, the $100s to $1,000s spent will remain in your account when the new season starts. In fact, the best/most desirable “moments” actually increase in value. So, even if are not a “collector”, you can still invest in the players/moments that are valuable in the competitions/games expected in the near future.
For those still reading, here are other reasons I think TopShot moments are a great short- and long-term investment:
1. In addition to fantasy sports, I was a card collector. I now prefer digital cards, especially TopShot Moments. I heard all the arguments against NFTs. The chief reason is that they are just a picture/GIF that anyone can view and save on their phone/computer for free. I get that anyone can take a picture or record a video of a card, piece of art, or even a stack of cash. And yes, you can look at it for free. However, no matter how many copies or variations you make, you do not own the original, which actually is valuable. Even if you personally do not find something valuable, others will and do. And, since you own it, you can sell it to them on the open market. I am sure you would be sued for copyright infringement if you tried selling a downloaded YouTube video.
2. Moreover, the intrinsic value of any NFT is similar to “physical” collectibles: How much will someone pay for it? Again, it does not matter if someone buys it as an investment or for his or her personal collection. Not everyone buys art to hang on the wall forever; many purchases are short- and long-term investments. Whatever the reason, like art, NFTs are valuable, collectible, and limited in quantity. I also want to point out that, in addition to fans, several NBA players are buying TopShot moments of themselves and others. This is noteworthy because it shows that not only do they endorse the product, they also are fans themselves. In fact, even though NBA TopShot gives free packs to NBA players, many of them still spend their own money to buy more. Regardless of whether they are buying for their personal collection or to sell in the future, it’s very telling that even those who get them for free, are spending $1,000s to purchase more.
3. It is also worthwhile to point out that, similar to cards, there does not have to be rhyme/reason for why someone will pay for a specific moment, e.g., first moment, favorite player/team, #1 mint, jersey #, or a serial # that resonates such as #88, #420, #69420. The reason does not matter, the point is that even if you personally feel it is not valuable, others disagree and will pay to buy it. People have many reasons for placing higher values on certain collectibles, so, even if your disagree personally, don’t let that be a reason to miss out.
4. There is another good reason to collect TopShot moments – they are stored and tracked on the $FLOW blockchain, so they cannot be damaged or lost. This is a big bonus and a plus to anyone who has ever had a mishap. You also don’t have to deal with shady people on eBay or having to wait 6+ months to get a card back from being graded.
Although there are certainly several other reasons why I love NFTs, especially TopShot moments, the focus of this article is to provide the reasons I first joined and continue to love NBA TopShot. So, there you have it, I am a huge fan as both a collector and its unlimited future utility uses. BTW, you can also find me on Twitter @topshotfanatic.
So with that, let me introduce one of the writers. In addition to being a main contributor, he will be have his own content entitled, “Panda’s Perspectives”.
Hi everyone, I’m Panda. I think it makes sense to start with an introduction and a game plan. I come from a Wall Street background and have spent my entire professional life immersed in markets and understanding the behavioral aspects of investing. Simply put, human nature has significant impacts on decision making when it comes to investing, and more often than not, leads investors towards making choices that cost them money.
I am also a basketball junkie. If there are games on, I am usually watching them. Whether it be the NBA or NCAA, it does not matter. In fact, at my apartment, there is a second TV in the living room that we refer to as “the basketball TV” so I can watch the games while my fiancé watches whatever she is in the mood for. Unfortunately, my hardcourt addiction was never more than a hobby and offered me nothing useful beyond the occasional small talk with clients. Until now.
To say that TopShot is a terrific combination of my skillset and interests is an understatement. I have been hooked from the moment I first discovered TopShot in January via Jonathan Bales’ article, I Spent $35,000 on a Video You can Find All Over the Internet: Here’s Why. I have immersed myself in this new community that has a plethora of bright minds from all corners of the Earth. Whether it be the crypto community, traditional trading card collectors, or basketball fans, everyone has something to offer.
I think my background places me in a unique position to opine on both the Top Shot marketplace and the latest NBA happenings. My goal is to put out this blog weekly. It will be my reaction to Dapper news, NBA news, marketplace trends, and what other community members are saying. If I succeed, I will offer long-term perspectives to build an optimal TopShot portfolio while also providing some insight into NBA trends that can be capitalized on in the short-term. I hope you enjoy it. You can allow find me on Twitter @FastBreakPanda.
Thank you for reading. We look forward to your comments and questions.
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