My only reasoning is that this mimics a “real” market with a very big fan base who already participated in this activity.
It also has a hugely popular force behind it (the NBA).
Cryptokitties was a game that 99.9% of the population dont give a fuck about its IP.
That being said, these are gifs that cost hundreds of thousands of dollars. It’s very stupid
Topshot, sports betting, crypto, and physical sports cards is basically where all my energy and free time is spent now.
They’ve clearly tapped into something here but they were designing this for something thats…not this. Basically something more akin to FUT then a day trading crypto market. Im not sure what’s happened here is ideal for the long-run growth of this market.
Agree some of the high end valuations make little sense to me, but that’s always been the case for memorabilia. And I would rather own a digital version of a gif than a physical card, for a number of reasons, I suspect that would be the case for many. If you are a collector, what better way to show off what you’ve collected than to have it all online for people to see it. You can get all the enjoyment out of showcasing your collection and do it to an infinitely wider group of people
OMG, just saw the new James Harden challenge. Only costs a mere $120k to complete.
I agree in general and said before, this is booming too fast for its own good. If people put 100 bucks in packs and cards and have fun for a week make money lose money maybe cashout maybe not, this is a great concept.
But this generation isn’t high on moderation.
I tend to agree that “investing” in extreme high end TopShots is insane btw. I think most of us are just enjoying trying to get packs, and gambling/daytrading on the marketplace. It has so far been pretty +ev for everyone here I would imagine. And I don’t think anyone is in deep enough to get crushed if this completely unravels but I could be wrong about that.
If you told me LeBron cost $20,000 and not $200,000, Id mostly nod my head and agree with this.
I wonder if they know what they’re doing or mashing buttons. Maybe they are trying to pump legendary cards and hope it dips the common cards market
Agreed as long as they pay the dollars eventually. Which I think they do, just going to be a painful process to get there. Im not trying to be the fun police here, just add some realism on valuations.
For the rational thinkers in this thread (ie Wheatrich and LG2) how exactly are prices on this going to crash anytime soon when there are very limited ways to get money off the site and they have so many new signups they have now disabled it? I completely agree the odds of this crashing in the longer term are high although not inevitable. But are 100,000 people just going to sit around with a Dapper balance that they can’t withdraw for months? I don’t see it.
Back to shilling. Someone better scoop my #61 ross
https://mobile.twitter.com/TerrenceRoss/status/1364287231544942592
There’s only 99 of each of the 9 moments needed, so this is marketing to a pretty small group of people no matter what. Don’t see how this impacts the price of low value moments at all.
Cool Cats is the challenge that anyone can get into. Everything else is super high end.
That could happen sure. It isn’t happening anytime soon though right? Anyone who has taken a look at the discord knows there are literally thousands of people rabid for packs and the ability to buy things on the MP.
The current situation has millions of dollars a day coming in and basically nothing coming out besides the fees like you mention.
I think some of the early adopters have the ability to cash out. It’s also possible they are heavily contributing to the decrease in prices. For instance, that Pranked account has sold over $1.4 million in the last 3 days (and over $4 million total). I’d be surprised if he’s holding all that in Dapper.
A week ago there was a few Lebrons for like $100, a few for $150, then “rare” ones for a few thousand. Now they’re all 2k+.
Obviously within a few months it will settle back to what it was, and I think I will enjoy that even more tbh. It’s more enjoyable when it’s above 5% to get a pack!
I’ve put some thousands into it, but I’m not going to be crushed if it unravels, it’s a risk i’m willing to take. And to make the bigger returns you need to put in the bigger money. It’s all risk/reward. I’m also getting a lot of enjoyment out of ‘playing’ the marketplace, which seems to be extremely profitable for the time being because a lot of people are making big mistakes with their listings. This is a hell of a lot more fun than trying to play the stock market.
Marketplace appears to be up
Edit: I lied