2021 is a new beginning. We have witnessed 10 times the Bitcoin value a year after Wall Street’s approval, we have also witnessed the invincible Ark Investment in the world, we have also witnessed the GME bears being crushed by 18 rounds of kcal, and we have also witnessed the world’s richest man Musk with a cargo of 150 times a year in dog money . Most people are looking for the next “Bitcoin”, at this time the term NFT became popular.
What is NFT?
The full name of NFT is Non-Fungible Token, Funglible means substitution, which means that NFT is an irreplaceable certificate. Many things in life can be replaced. The iPhone 12 you bought in Beijing and Shanghai is fungible, and the Bitcoin you bought in the United States and the UK is also fungible.,The Moutai stock you bought today and the Moutai stock I bought yesterday are interchangeable.
So what is irreplaceable? Kobe’s autographed basketball, Mona Lisa’s smile in the Louvre in Paris, the real estate certificate of the White House in Washington, DC, USA,The first tweet from Twitter founder Jack Dorsey.
NFT is a colorful world. My research in the past 2-3 months may have only learned some of the fur. Why would someone spend money to buy a photo? Why NFT may become the most successful application of blockchain in business .
Can a star card be sold for money?
I believe most people have heard of star cards, and some people may have collected them when they were young. The star card may be given by the noodles, or it may be given by the McDonald’s family package. If any classmate can get a picture of Jordan, he will be the object of admiration in the class,Maybe Banhua has to look differently. With age, the childhood star card may have been lost or damaged, and most people would never think that someone would spend tens of thousands or even hundreds of thousands on a good star card, a childhood memory..
It is possible that many people didn’t like to watch basketball when they were young, so Pokémon Card (Pokémon) always played when they were young. The Pokémon cards that were thrown around on the ground as a child can now be called“antique“NS.The 1999 version of the fire-breathing dragon card sold for 50,000 U.S. dollars 3 years ago, and it has now risen to more than 200,000 U.S. dollars..
If you still don’t understand why a card can sell so much money, think about stamps. I believe that many middle-class families have the habit of buying stamps every year. The stamps issued each year are not only a record of major events that occurred during the year, but also an expectation of future appreciation. Has anyone used stamps in the past ten years??So why everyone is still buying every year.
The older generation collects stamps, the new generation collects cards. And NBA Top Shot is the new era of card platform.
As a peripheral product of the NBA, the sales of star cards have been sluggish in recent years. Young people have a variety of things to play with, and fewer and fewer people buy star cards. A company called Dapper Labs came up with a whim, since the star cards have been sold at sky-high prices on Ebay, why not digitize, monetize, and uniqueize all star cards.In this way, Dapper Labs obtained the authorization of the NBA, and together with the NBA launched the NBA Top Shot, the world’s first blockchain card trading platform. Now NBA Top Shot has become a market with a market value of close to 1 billion, with an average daily transaction volume of 2 million US dollars. The number of users with star cards has increased from 4,796 at the beginning of the year to 460,000..
Different from the traditional star card, this kind of star card can only be viewed online, not a physical card that can be touched by hand. Many people may not understand what to buy without a card.
Let me first talk about the advantages of this new star card:
It cannot be faked, every card is on the blockchain, no one can copy or counterfeit it; it will not be lost or damaged. Many old cards are precious because the circulation is scarce, and there are fewer ones that are kept intact until now; the new cards are In the animated picture, the old card is just a star, and the new card represents a gorgeous goal or assist of a star; the new card connects NBA fans all over the world on the Internet, including pseudo-fans like me who started watching the game because of the collection of cards. . The main way to obtain a star card is to open a limited number of card packs. Up to now, opening a card pack is basically a steady profit without losing money. Because the cheapest card has to sell for $5, the cheapest ordinary card pack is only $9, there are three cards in it.For this reason, tens of thousands of card packs are airdropped each time(Drops) There are 200 to 300,000 people in line, it can be said that a bag is hard to find. In recent times, rare card packs ($99) and legendary card packs ($999) have begun to increase restrictions on the account and transaction amount, because many people open trumpets or use robots to cheat to grab bags.
Ordinary card packs, rare card packs, and legendary card packs correspond to ordinary cards, rare cards and legendary cards,There is a rare card in the rare card pack,The legendary card pack also has a legendary card,Ordinary cards can also open legends but the probability is very small.For each airdrop, enter the waiting room in advance, and then the computer randomly draws lots. The person who draws the previous number is eligible to buy a card package within 15 minutes. Airdrops range from 50,000 to 100,000 for ordinary card packs, only 10,000 to 30,000 for rare card packs, and only 2-3 thousand for legendary card packs. To purchase a card package, you need to pay through Dapper Labs, either by credit card payment (5% handling fee), or using Coinbase to transfer bitcoin or ether to pay.
Can a star card make money?
Yes, but the ten-fold bull market in February and March has passed. NBA Top Shot came into the eyes of many people at the beginning of March. WSJ reported that a man with a full position of 170,000 made 20 million in half a year. At that time, it was also the hottest period for NFT.
Michael Levy is still the largest personal account on Top Shot. His account has fallen from the highest point in March to 12 million, a drop of more than 40%, but the ROI is still as high as 23,643%..This is also another advantage of the blockchain star card. Anyone can see his “position ” at any time , because all transactions are transparent and unique.
Another NFT boss who participated in the NBA Top Shot early, Pranksy, has also returned very well. At the end of last year, many people laughed at him as a picker. The wave of February and March was also profitable..
But most people like me who only entered the game in March did not enjoy the appreciation bonus of the star card. Only the airdrop card package from time to time can make a profit. The trend of Leonard’s Series 1 ordinary card below is very typical. It is obvious that there will be an increase in late January (Series 2 is launched), and then the FOMO (15K card becomes a limited edition) from the end of February to the beginning of March, and NBA stars begin to collect cards.,/Internet/News is overwhelming), after March, the star card entered a 40-50% bear market, and it was also a “NFT winter”.
Why did the star card drop so much?
This is related to the airdrop card package that I said before, “make sure you earn without losing”, because most of the people who grab the card package are speculators, not star card collectors (people who are willing to hold star cards for a long time). Speculators use a trumpet, and the robot increases the probability of grabbing a card package every time, and sells it on the market as soon as the package is opened. These people increase the Supply more, and the price of the star card drops. The price of the star card in the market is determined by the lowest selling price (Floor Price). Speculators compete with each other to deliver goods at lower prices, and buyers are constantly waiting for lower prices in the future..
Take the example of James’ 15K ordinary card above. The lowest price is now $439. The market value of this card is $439×15000=6.58M..But this calculation is actually wrong, because every star card is different. NFT is irreplaceable because the two cards #1/15K and #5000/15K are different. Although it is the same goal, it is impossible for buyers to buy these two cards at the same price. From the trading history below, we can see that there is a card that can sell for $70,000 because he is #23/15K, which happens to be the number of James in the Lakers. The $9 card that drew this card is the real European King. And low-sequence cards (top 1%)Also generally more expensive than high-sequence cards.
Going further, there are only 1,532 cards hanging on the market, which means that the other 90% of card holders are not ready to sell. And the cards on the market are not all sold at $439. You can see from the below that if you are going to buy 10 cards in one go, you can push the Floor price to $455, which is equivalent to using more than $4,000 to buy this card from James. The market value has risen by 240,000. So at the end of February, why many cards can increase by 10 times in a few days, because the low-cost pending orders have been bought out by new users, and the supply exceeds demand.
Unlike stocks, all NFT transactions are on the blockchain. In other words, anyone can see all the transaction history of this star card, including the seller’s cost. Historically, the user direct_msg opened a $9 card package and sold it to 3inthekey for $445. 3inthekey was sold to the current holder Noslen for $559 two hours later, with a 25% return. And Noslen is now ready to cut meat at a price of $439, with an estimated loss of 22%.
There are many speculators like 3inthekey, because the number of NFTs is small and the circulation is very poor. Sometimes they can cut some FOMO leeks. I also know a friend who scans goods for $5, and sells it for $8 when it is scanned. No matter how small the mosquito is, it is meat, but it is definitely not as stable as the open card package. With the continuous launch of new card packs and the sales of speculators after opening the card packs, the price of star cards has continued to drop, and the value of collectors’ accounts has also continued to shrink..
Look to the future
Is the NBA star card out of play?? I don’t think that there are 400 million basketball fans in the world, and 1% of the people who collect star cards are also 4 million users.,Now Top Shot has only 460,000 card users (including trumpet).I think rare cards and legendary cards must have long-term collection value. The legendary card of James, like the following, has recently reached a new high, sold for nearly 390,000 US dollars. This legendary card is James’s slam dunk in memory of Kobe, only 59 in the world. Zhang, now there is only one hanging on the market.
In general,NBA Top Shot has three ways to make money:
Waiting in line for airdrop,Make money by God.
Buy a lot of junk cards at the lowest price and wait for the next big bull market.
Buy Superstar’s limited card at the right price(Rare or legendary is better), Long-term collection value.
Of course, there are many ways for fans to discover for themselves: including buying low at night and selling high in the morning, buying undervalued young players, buying stars who are about to retire, buying rookie player Rookie of the Year, buying season MVP , Collect the entire Collection to reach the challenge and get a free limited card (I think the risk-benefit ratio of the recent Luka challenge is pretty good).
In fact, the official also knows that many speculators are eating free lunches,So recently it has also begun to impose restrictions on the purchase of airdrops,In the future, the probability of making money from a card package will gradually be equal to the probability of losing money,That is, the Expected Value is equal to the price of the card package.The platform just started to attract users,It’s normal to have this kind of free lunch,After users reach a certain base, the market gradually matures.And as a new platform, there are many system problems,Withdraw money problem,Will be solved gradually in the future,This new generation of star cards is irreversible,Fans in the future will only gradually become familiar with his existence,Those who are willing to collect cards will go to Top Shot.
I will continue to buy some ordinary cards or rare cards that I am optimistic about at a low price in the future,If you are lucky enough to encounter the next big bull market,Maybe you can earn a legendary card of James or Curry. If there is no big bull market, it will be a collector’s item..
With the newly launched MLB Topps baseball card last week, speculators have a new lunch.I personally don’t watch baseball,There are also baseball cards that are not animated,I didn’t participate in person,Interested baseball fans can take a look.
What I am most looking forward to is FIFA’s launch of a football star card in the future,Football is the most popular sport in the world,If next year’s World Cup also launches a football star card on the blockchain,Not afraid of losing sales.Unfortunately,Many legends who grew up with us are now close to retirement.
It has always been a habit of fans to watch the game cards,NBA Top Shot uses the new era of blockchain technology to innovate the traditional star card,Also benefited basketball fans all over the world.I believe basketball is only the first,In the future, there will be more sports or other activities launching peripherals on the blockchain,Concert tickets,Film premiere tickets,Even check in at tourist attractions.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/nft-trilogy-the-star-card-on-the-blockchain/
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