What Does LE Mean and When Do Moments Turn LE?
Updated: Jul 11
In light of some CC moments turning LE very soon, I thought it'd be a good time to refresh on what LE means and when Moments turn to LE.
What is LE?
There are two types of circulation counts in NBA Top Shot: LE and CC. LE stands for Limited Edition, which means that the Moment is capped at the current circulation count displayed and no additional mints will be made of that Moment. CC Moments, on the other hand, are those that Top Shot can decide to mint more of. If you look at the marketplace, you can see these circulation count designations after the tier of the card and the current circulation count as seen below:
In this sample, Top Shot can mint more of the Murray and Wall Moments which can change the circulation counts of those Moments above 35,000. Tacko Fall's Moment, however, is capped at 12,000, which means that there will be no more than 12,000 of that Moment in the market, ever.
When do Moments turn LE?
Currently, there are a few known events when Moments can turn LE:
1. Player moves to a different team
When a player moves to a different team and that player currently has a Moment with an open circulation count, that particular Moment will turn LE. For example, the two Moments below with players who got traded to Heat and Nuggets, respectively, will turn LE soon.
2. Series ends
When the current Top Shot series ends, all moments in the ending series will turn LE. For example, you should not find any Series 1 Moment with an open circulation count today. Similarly, when Series 2 ends, we would expect all Series 2 moments that are not yet limited to turn LE prior to the arrival of Series 3.
3. Special circumstances
We've only seen it happen once, but on February 19, 2021, Top Shot decided to retire all of the existing Series 2 moments at the time. This meant that all CC moments in existence prior to February 19 suddenly turned LE with no warning, just a blog post. The move was said to be made to "make room for new plays from rookies, fan favorites and others who haven’t yet made it to NBA Top Shot."
What is the significance of Moments turning LE?
Historically, Moments that turn LE can raise their prices quite significantly. This is because buyers know that the current circulation count will stand and there is no risk that the Moment will be minted to higher counts. For example, we know that Oladipo's Layup Moment while playing for the Rockets will have a max Moment count of 35,000. However, other Moments that are 35,000+ CC, like the ones below, can still be minted to how ever many in the future, whether that be 50,000 or 100,000, further flooding the market with those Moments, which would in turn devalue them.
Hope this blog post clears some things up and prepares you for what is about to come!
Holler on Twitter @topshotnoobie.
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