Posted a thread about this on the NBA forum, but also going to post here as collectables are a form of investing.
New website that uses non-fungible tokens on the blockchain to track ownership of digital collectables, in this case NBA highlights of specific players known as "moments" which are similar to trading cards. This has blown up over the last two weeks with top sales of certain moments going for $35K, 70K yesterday and now 100K this morning.
You buy "packs" just like trading cards and open them digitally and add random moments to your online collection. You can then sell or trade these moments on the online marketplace. There is some scarcity to the moments as some are limited and have a certain mint, making some more valuable than others, just like cards. The benefit of this over owning physical cards is 1) everything is digital, nothing physical to keep or that can be damaged, 2) everything is recorded on the blockchain so all transactions of these moments can be seen and a history of transactions are recorded and stay with the card 3) no "grading" or anything like that involved, pure marketplace that is not driven by the physical condition of the item.
Prices of these moments have 10x since the wave, a lot of people wanting to collect "Series 1" (last season, the first for Top Shot) or other rare moments that have a limited supply.
I've put in ~300 this weekend trying to just collect some series 1 and other players I like. You could flip and try to make a quick profit if prices continue to climb or hold for long term. Wondering if there would be anyone interested in forming a group to make larger purchases? Each go in 10% or something to try and nab something of higher value we wouldn't be able to buy alone.
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I Spent $35000 on a Video You Can Find All Over the Internet: Here's Why
New website that uses non-fungible tokens on the blockchain to track ownership of digital collectables, in this case NBA highlights of specific players known as "moments" which are similar to trading cards. This has blown up over the last two weeks with top sales of certain moments going for $35K, 70K yesterday and now 100K this morning.
You buy "packs" just like trading cards and open them digitally and add random moments to your online collection. You can then sell or trade these moments on the online marketplace. There is some scarcity to the moments as some are limited and have a certain mint, making some more valuable than others, just like cards. The benefit of this over owning physical cards is 1) everything is digital, nothing physical to keep or that can be damaged, 2) everything is recorded on the blockchain so all transactions of these moments can be seen and a history of transactions are recorded and stay with the card 3) no "grading" or anything like that involved, pure marketplace that is not driven by the physical condition of the item.
Prices of these moments have 10x since the wave, a lot of people wanting to collect "Series 1" (last season, the first for Top Shot) or other rare moments that have a limited supply.
I've put in ~300 this weekend trying to just collect some series 1 and other players I like. You could flip and try to make a quick profit if prices continue to climb or hold for long term. Wondering if there would be anyone interested in forming a group to make larger purchases? Each go in 10% or something to try and nab something of higher value we wouldn't be able to buy alone.
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I Spent $35000 on a Video You Can Find All Over the Internet: Here's Why