With the NBA Playoffs right around the corner, I think this is a good time to look at the NBA Top Shot market.
Finally, it appears that the market has stabilized.
Obviously, it came out guns blazing. But then a market correction did happen. It feels like this is the first time where we are seeing some stability. This doesn’t mean that the prices won’t drop, but it does mean that the days of a 10 percent decrease a day are most likely over.
Since the market was crashing, what have we seen?
- Users have now seen access to withdrawals, which was an early that we addressed in the first couple of Top Shot blogs.
- Dappers also made a lot of new hires, some coming from the NFL. The emphasis seems to be on building out the business with high level marketing members and having a strategic focus.
- Top Shot has done a good job of responding to feedback. Whether it be the requirements on pack drops or removing bots from the release pool. Listening to the community will be massive for Dapper and even though it is early in their career span, they’ve seem to be receptive to feedback.
- A new “King” has come forth in the NBA sphere. "Dingaling" has quickly become one of the more invested consumers of the Top Shot community. In the last few weeks, he has risen to the top ten most valued moment ranks. The “King” came in and purchased these moments “off-market” which factored into his large investment.