Hi everyone,
This is a follow up post to my two earlier posts
Post one
Post two
Let me start with the mistake that I made:
I sold a base moment series two, a 3 pointer from Steph Curry for 120$ exactly a week ago on NBA Topshot and I was over the moon with the sale. Now, it is being sold for 1169$... And you might think, yeah that's a one time thing, that is one of those rare gems that only the happy few will buy. Well, you could not be more off, I said it in my last post, the marketplace is going crazy, that was an understatement, the market is just off to the moon and even way past it. This moment has been sold over 10 times in the last two hours ranging from 1000$ to 1250$ depending on the serial!!
While I am writing this article the minimum asking price already went up from 1169$ to 1195$.
From now on I am going to treat my 8 individual moments (all base set series 1 and one cool cat series 2) that I still own as separate 'coins'. Yes, that is how fast these cards are moving and for now, the only way they are moving is up! I will write an update every couple of days to see how these moments are priced and if the bubble will burst.
Because this crypto collectible NFT game is so hot, there are many tools that have developed for keeping track of your accounts value, the marketplace etc.
I have already sold some moments for a total of 175$, plus the 2056$ at current lowest market sale price puts it at 2231$. Remember I invested 24$ by buying packs.
I don't know enough personally about the NBA itself, so I am not actively participating in selling and buying moments, even though maybe I should, because everything is going up, even the latest editions. I feel most comfortable buying a 9$ pack, if I manage to get my hands on it and that is super tricky, because each time a pack is released, it sells out in seconds.
This is a project that is insanely bullish, one of the biggest indicators for me is how active the discord is, there are thousands of people chatting and mainly about buying and selling. I have seen accounts with over 50k in profits, starting out with only a couple of 100 dollars.
I think this is the epitome of the current bull market.
Disclaimer: This is not financial advice, only for documenting purposes