NBA Top Shot Weekly Summary (Week of 2/22/21)
Updated: Mar 2
It was another eventful week for NBA Top Shot as the media attention continued to increase and more users have joined the platform. So many NBA players have been joining every day in the past week that it's been hard to keep track. Fortunately, Top Shot now displays their profiles (with verified checkmarks) on the front page.
Here is a recap of some important events that happened during the week:
February 22, 2021 (Monday)
Haliburton, Hart, and Lee live-streamed pack openings on Twitch.
Top Shot did a stress test (Release 18) with 5,000 base packs. Someone pulled the LeBron James #1/15000 3-Pointer. Congrats!
The market has experienced its first noticeable dip in days after a couple weeks of endless mooning.
A Cosmic LeBron (#29/49) sold for $208,000 which is to date, Top Shot's highest sale.
February 23, 2021 (Tuesday)
Dapper did a stress test (Release 19) with 5,000 base packs.
Holo Icon 2 Challenge for a James Harden reward went live. The moments included in the challenge are the Holo Icons for White, Curry, Warren, Anderson, Herro, Robinson, Gordon, Harris, and Carmelo. As of today, the total cost to complete the challenge is $112,708. The challenge ends in ~7 days.
The first Series 2 MGLE challenge for a Terry Rozier moment went live. Moments needed to complete the challenge include the S2 MGLEs of LeVert, Hardaway Jr., Rose, Williams, Herro, Randle, Dort, Murray, and Mitchell. As of today, the cost to complete the challenge is $19,784. The challenge ends in ~18 days. (Note: I'm actually unsure when this challenge started; hopefully, Dapper will send challenge announcements in the future!)
February 24, 2021 (Thursday)
Dapper did a stress test (Release 20) with 5,000 base packs. I finally got one--and that is the most eventful event of that day! ;)
After a series of successful stress tests, premium packs were announced for February 25.
February 25, 2021 (Thursday)
The drop of premium packs which was scheduled at 9am PST was postponed to 12pm, and then to Friday at 9am. Everyone was sad--but it was for a good cause:
February 26, 2021 (Friday)
The day finally came! Premium packs were dropped at 9am PST. 205,000 people were in the queue with only a 5% chance of getting one of the 10,631 packs.
The market has reached new market lows in two weeks before recovering hours later. S2 moments had it worst. LeBron James S2 3-pointer dipped below $1,000 before going back to $1,475. I wrote a blog on the recap of the premium pack drop with some insights on the market in its aftermath here.
NBA Top Shot officially declared its stance against marketplace bots. Goodbye, Pickle! Excerpt from the blog:
NBA Top Shot announced pre-order for Series 2 Base Set for February 27.
February 27, 2021 (Saturday)
Pre-order queue for base sets started at 10am PST and lasted for hours. The queue entry was extended to 2:30pm due to some site performance issues. (I got in line at 10am and completed my transaction at 1:42 pm)
Due to the pre-order, the marketplace was down for most of the day.
Before the end of the week, here's some market snapshots:
As of February 28, at 11:54am, NBA Top Shot still leads the Crypto Collectible Market with $131.1M in sales--102% increase from last week's--with over 66,000 buyers and over 424,000 transactions.
...and some challenge insights:
The Gift challenge is ending in ~2 days with 2,991 users on track to get the Derrick Rose challenge reward. This is a lot lower than the /8888 total mints for each moment in the set, but is to be expected, as a lot of The Gift moments are still in packs and undistributed. The cost to complete the challenge as of today is $2,445.
One more thing, some new tools I found this week!
I just found out about this super cool site which lists all challenges, their current completion amount and total floor price for all moments in the challenge. All challenge data from this post are from the NBA Top Shot website and from Slamdunk.us. Check them out!
NBA Top Shot released a new website to check their website operations status here: https://status.nbatopshot.com
Whew, that was a lot. Are you ready for next week? Talk to me! Comment below or holler on Twitter @topshotnoobie.
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