NBA Topshot - My personal experience

Hi everyone,

I was talking about the NBA crypto collectible Topshot 'game' to some people today in discord (@crystalhuman and @9999 if that is his hive account name) and realised that although this is already huge, not a lot of people here might know of the hype just yet.

And, is it just a hype?

Well, the game is an officially licensed product of the National Basketball Players Association, so that makes it something quite a few fans could go nuts for.

And some of them already did, or at least that's what the creators (who btw are the same ones as the creators of Cryptokitties) want us to believe. Apparently a LeBron James Video Highlight sold for $71,455!! and earlier in the year a Ja Morant highlight (No. 1 out of 49) was purchased off the platform's secondary marketplace for a then-record $35,000.

I thought to myself I need to get into this and at least buy one pack to see what the fuzz is all about. Well, I can tell you from a personal experience, is that it is not easy to get a pack, because the demand way over-exceeds the supply and every time a new pack is dropped it is sold out within 30 minutes and causes all sorts of problems.

Because the demand is so high, the website crashed and I wasn't able to purchase a pack and I got an email saying that if I wanted to I could reserve a pack, rewarding me for my efforts in trying to buy a coolcats pack (They bring out all kinds of packs, from legendary packs costing 999$ to coolcats packs costing 15$).

And so, I did.

And yes, I was able to buy a pack a couple of days later, which costed me 15$. I opened it and got one special moment (like in each of these coolcat packs is guaranteed) and 4 normal base moments. I listed them all for sale at the current market value and already sold one today for 10$.

Now, as you can see, that was one of the cheapest ones out of my pack and I already got 75% of my initial investment back.

If I sell the rest at these listed prices, this one pack that I bought for 15$ should give me a 483$-15$= 468$!!! profit???

I think that can not be sustainable right?

The NBA fanbase is huge and there are some people out there with quite a lot of money, but still? Is this the way it will always be when you purchase a pack from NBA Topshot, or is this just because it has all just started and things will calm down? I don't know, but I do know I will be trying to get more packs if and when new ones come out.

Practical Stuff

Since its launch, the company has reportedly registered nearly $20 million in sales ($6 million from packs and $14 million on its secondary marketplace) with upwards of $1.5 million in trading volume in January alone. So, it is busy and what I am wondering how easy is it to withdraw your money?

There are some bugs, that is for sure, here it says I sold a moment for 5$, while I actually sold if for 10$ and that is also what my Dapper account shows (9.75$ minus the fees).

Next up trying to withdraw the money

As you can read there are a lot of restrictions when trying to withdraw to a bank account, which is something I personally can not do anyway, because I live in Europe and do not own a US bank account. So, converting it in USDC is currently the only option I have.

Here we go.

Well, there you see it, it will take at least 30 days due to heavy demand.

I will keep you informed about how this all goes, but for now I stand to loose 15$ and could win 468$ (minus fees) and it all looks legit, even though I will have to wait quite a while to get my money.

Sign up here to start collecting and selling NBA Topshot crypto collectibles

Cheers!

TC

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