I wrote a post about my NBA TopShot Journey a month ago but figured an update was necessary as things have been crazy. Hopefully what I'm writing here will make it possible for some of the readers here to make the most out of this NFT mania and get a decent profit as most of it depends on luck, timing and strong hands right now.
My journey so far:
Signed up for NBA Top Shot in September-October 2020, kinda forgot about it as I've been really busy here on Hive. Got an email survey from them saying if I fill in some answers I can get a $20 voucher for free, figured I can spend a few minutes doing that. After I did that I attempted to buy packs with the $20 voucher as naturally it couldn't just get withdrawn in crypto/cash but it wouldn't let me cause I needed some actual crypto/cash in my wallet to do so. Kind of a red flag but I went with it anyway as the required amount was pretty low (I only sent $10 in ETH at the time through @blocktrades (remember when ETH was still usable?)).
With the combined $30 now I purchased 3 packs with 15 "moments". There was no marketplace at the time yet so I kinda forgot about it for 4 months or so and then started hearing about NBA Top Shot a lot more on Twitter again. Someone mentioned a website that calculated his estimated collection value so I hopped on it, entered my username and couldn't believe what I was seeing. My $30 (really $10) "investment" was an estimated $770. It sounded a bit too good to be true or too overvalued so I started selling some of them off and they were going quick. After selling $450 worth of moments of my "early adopter" cards I realized that to withdraw the funds you needed to KYC and a waiting period, this lead me to just hold the rest of the moments I had left (2 of them).
A few weeks after that I got another email that there was going to be a "Cool Cats Pack" randomized to investors that signed up for it through the website, so I did and got lucky to be chosen. That pack cost me $14 which I was happy to pay as not only was I not able to withdraw my funds "yet", but the fact that it was a random pack from which many in the Discord seemed to not have gotten I figured it'll most likely do well as well. I opened it up and was surprised I got a Lebron James moment as that's one of the few NBA names I know (I don't follow NBA). Here's a screenshot of the moment:
I tried to convert it to a gif but it's way too big to gifify it and paste it here, so for anyone interested to watch the moment click on this link.
At the time of opening this pack that Lebron James alone was worth an astounding $200, remember the pack itself only cost $14. There is real and serious demand by investors and the platform has gotten closer to mass adoption than any other NFT platform so far has even come close to. Just to bring things in perspective, yesterday there were over 200k investors in line waiting to buy a pack that dropped and only ~10k existed, and while people were waiting in line for their chance to buy one, they were livestreaming the amount of packs left and there were over 60k viewers on their Twitch stream.
It has only been a month since I got that Cool Cats pack with Lebron so if you'd look at my current estimated collection value, while keeping in mind that I still have $450 in my wallet for having sold some moments (most likely too early) and have only invested $10 of my own funds into it (+20$ free survey voucher and $14 purchase of a new pack with profits), I think this screenshot will blow your mind as much as it has mine.
Alright, so why should you spend some time on signing up to NBA Top Shot? and getting involved?
There will be more drops.
More drops are coming all the time, there's another one scheduled for today in about 9h from this post, only costs $9 and has a limited supply. Those who come early get in line and await their turn to be able to purchase the 1 pack per investor limit.
Will this be guaranteed ROI? Probably not. It depends on what moments you get from the packs. Will they drop in value over time? Who knows, right now it doesn't look that way, I doubt anyone who has purchased packs has lost any money from it. Am I recommending you to buy moments from the marketplace to resell later? Absolutely not. I have no idea about NBA, what will hold value, what won't.
All I'm saying is that for a meager $9 deposit and trying to get in early for a chance to purchase a pack to maybe resell later there doesn't seem a more guaranteed ROI out there in the space right now. Sure withdrawing the money will be a pain for KYC and waitlist (cause the project has been literally hammered by traffic) but for those who don't mind that, it could be a nice opportunity and that's why I decided to share this with you again.
Have you been part of NBA Top Shot? I'll bet any of you who've been able to purchase packs are probably at a good profit right now. Let me know in the comments how you've done if you're willing to share. :)
Would be even cooler if some of you who signed up through my invite link last time I posted this were able to make some money and buy more Hive with it. ^^
