I'm very bullish on NBA Top Shot for at least the next 1-2 years. After that, who knows. The NBA hasn't even been marketing this yet, and they will eventually market it hard because they have a profit sharing agreement with it. Plus, the media and the NBA Players are just now starting to catch on to it. So I think it's going up short term (next 1-2 years) for sure. The fact that it has a built in market/audience from the NBA is what sets it apart from most other NFTs to me.

I went in with a group of 4 other guys about a month ago. My group has way more in this than we initially imagined we would. We quickly added a lot more to our initial buyins after we played around with it for a week and had a blast with (it's definitely addicting and makes it hard to concentrate at work some days). And everything has just moon shot. So the value of our current holdings is pretty ridiculous right now compared to where we thought we'd be at this time. We are currently doing the Cool Cats Master Challenge to try and get the Lamelo reward, which I think will be one of the most sought after moments on the site for years to come.

We keep thinking of selling some to take some chips off the table, or get our initial "buyins" back. But it seems like this is just getting started. So we keep concluding that it's dumb to take chips off the table this early before the masses really hear about it and get involved. And like I mentioned, the NBA hasn't really even started marketing it yet, and they will eventually. So it will definitely grow in popularity. But which types of moments will be worth a ton long-term is still anyone's best guess.

It's a lot of fun, especially if you go in with a group of friends. And we fully realize that there is a risk that we could end up losing everything we have put in. We'll see.

Price is what you pay, Value is what you get.

I imagine we going to see a shitload of horror stories in the not to distant future.

how much can we sell the blockchain ownership of this for?



it would literally be owning digital gold.

I fully admit I'm an old and nearly a boomer.....yea I literally don't understand any of these posts.

much like the way many people do not own any rare art or sports cards, many people will not own digital art/in-game items/any sort of collectible NFT

It's possible NFTs are not for you, and that's okay. As long as you're not a right-click saver you're good by me. Public blockchains are great though for the concept of ownership of something. Many people seem to not understand this, as the mainstream response to large NFT sales is "look I just got it for free, idiot! <screenshot>"



Rich people often like to collect things for status/flexing, or because it makes them feel something (ie, nostalgia).

NFTs will go where the users and liquidity are.



Every chain is working on or already has a bridge to ethereum, which has orders of magnitude more users, liquidity, wallet downloads, etc. Optimism (L2 optimistic rollup) mainnet is launching in weeks, not months, and eip-1559 is looking like a favorite to be included in the London hard fork (~July). It's a big few months for ethereum from both a scaling and UX standpoint. Will be watching and participating closely

Beeple dropping a 105 edition run this Saturday. Only $1 if you are lucky enough to buy it. Details on his Instagram.

if only I could sell my whole portfolio for AR without moving the price 1000%...

another long-run thing that matters is the relationship between Lubin/ConsenSys and Benet/Filecoin.

Its a 3 minute mspaint

The price of art on the open market is not necessarily correlated with how long it took to create, eg. Andy Warhol, Jackson Pollock.

"art"

Its basically a big circle jerk.

top post

I don't personally like Andy Warhol or cryptopunks from an emotional/art appreciation POV, but that has nothing to do with what I'd pay for those things as investments. Is this BFI or Art & Feelings?

And I'd say paying 800$ for a share of Tesla was a bad investment, and paying 1.25 mllion for some pixel art is a bad investment too

Maybe you are the one not getting it

I'd be on board with a rational argument as to why paying 1.2 mill for a cryptopunk is a bad investment. All you have is an emotional argument.

You are banking on crypto kiddies having more money than sense. Maybe not the worst assumption to make.

The likely outcome is the mania subsides, crypto succeeds(probably) or fails, and we mostly forget about this whole thing within a few years. Then you are left with some pixel art on a ledger somewhere that you don't even look at

Are you imagining big digital auctions where people are furiously vying for this inspirational masterpiece, 30 years from now? 300?

I'm not "pro" or "anti" NFT. I don't know enough to say anything about it with any confidence, but I think it's interesting and rational discussion from people who know something about the space should be encouraged here.

Good thing you are here to police the thread while providing literally nothing, not even an emotional opinion

The bull case is that it's an extremely high beta play on ETH. If BTC became a base money and base monies were power law distributed, and ETH was 2nd place 10 years from now, I reckon apes and aliens would be worth a fortune, like Picasso's or Pollock's. If ETH flipped BTC and became a base money, that would be even better. What else would the new lords of society (crypto decabillionaires) want to flex with other than the rarest, most original blockchain collectible? These are the T-206 Honus Wagner's of blockchain collectibles.

Other thing to mention, these are and always have been priced in ETH, not dollars. Keep that in mind.

(many people do not find art or collectibles valuable or enjoy them at all, and that is totally fine. collecting, flexing, social climbing, and peen measuring is not for everyone)

And yes I think a far more digital/VR future is inevitable.

presented without comment

It's simple, it will stop when the Fed loses control of longend rates. But remember:



This is why I always tell people, especially people with smaller investing rolls: get involved in communities of promising early-stage projects, find ways to add value, exchange work for tokens. Even if you're an extremely good trader, the chances you are able pull the trigger and sell your entire stack at/near the cycle top are extremely low. Bubbles always have gems that crash and rise from the ashes years later (synthetix/aave being good examples from 2017-18 era, AMZN from dotcom, etc). Have some theses, establish positions, add value when you can. Example: I have a thesis that if *any* NFTs work out, some of the best bets are: NFTX (generalized infrastructure for NFT stuff that is trying to vertically integrate), CryptoPunks (the canonical NFT with fixed 10,000 supply), and SOCKS (as outlined in OP--potentially an ultra rare VR-status item as well). I don't have much else in the form of NFT bets, and this segment of my portfolio is small (<5%).

As for the macro cycle, focus on risk management more than edge. If you have a very high % of your net worth in early stage project tokens, and taking some profits would improve your day to day life, definitely consider selling some even if you're still bullish.

As long as the tides are rising, we will continue to see stupid people throwing around stupid amounts of money for stupid things. It's crazy how much these youtubers make to begin with, because they're able to extract a small-medium $ amount from a very large # of fans.

Got lucky to get a Top Shot pack today. Debating whether or not to open it. I probably will.

If anyone wants any moments from Top Shot, I can sell up to 8k worth. I'll give a 2+2 discount as well.

Got my first pack today and binked a pretty good one. Officially hooked

Nice! Missed mine. I could see scenarios where, say, high-profile streamers would pay a lot for unopened packs, etc. but overall opening seems like the play.

Good thread on the benefits of NFT collectibles.