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Why I am (Chicago) Bullish on NBA Top Shot

Today I tried to score my very first NBA Top Shot pack. For those unfamiliar, they are blockchain-based digital trading cards (brought to you by the obscenely successful Dapper Labs in partnership with the NBA).

Top Shot packs range from $9-230 each and sell out quickly. They contain several cards, or moments, with varying degrees of rarity which can be resold on the marketplace. The most expensive moments were previously Zion Williamson “Holo MMXX” Block and LeBron James “From the Top” Block at $100,000 each. That is until this past Monday when an enthusiast paid $208,000 for Lebron James “Cosmic” Dunk. 

Today’s drop was for around 11,000 premier packs priced at $100 each. Top Shot only issued 1 per person and made them available starting at 9 am PST (12 pm EST). For fairness, Top Shot creates a randomized queue so it didn’t matter if you logged in at 7:30 am (as several people did and complained about on Twitter) or if you rolled in at 8:50 am like me. I was assigned around 16,000 in line (out of over 200,000) and I stayed (just in case) for the full 2 and a half hours until Top Shot finally announced they had sold out.

Will Top Shot become a modern-day Beanie Baby bust? 

Maybe.

Or will these packs create millionaires?

…They already have.

Per CryptoSlam, the top seller, Pranked, has spent about $450,000 on Top Shot moments and has sold 4.9 million dollars to others on the marketplace. (Gotta love blockchain for transparency). Pranked has more than 10xd their investment – and Top Shot is just getting started. It is still in beta and has room for incredible growth. This year Top Shot has even launched a fantasy league (swyysh) based on their collectible moments. Combining the sport of day trading with fantasy, Top Shot looks like a slam dunk. ba dum tss I’ll be here all week folks! 

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