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NBA Top Shot Part 2: The New Drop

NBA Top Shot

NBA Top Shot has been the latest buzz from the time the calendar flipped to the year 2021. The latest trend and fad in the collectible world has been a hot topic for the past few months. However, it seems that so many people have joined the Top Shot network that the server can’t handle them all. Seriously.

Last time, we discussed some details and broke down what NBA Top Shot exactly is, and here’s a new update on the latest. Still, NBA Top Shot is not going away anytime soon, even with talks of a ‘diluted market.’

NBA Top Shot is Thriving

The New Trend is Still Abuzz in the NBA Community

Many people worried that the market would crash soon. However, that’s not even remotely close to the case. In fact, NBA Top Shot has too many people trying to get a pack, according to UPROXX. 

NBA Top Shot‘s biggest problem has generally been a good one: too many people want a part of the basketball highlight collectable startup as part of the explosion of interest in NFTs. It’s become wildly popular, even more than it already was. Dapper Labs- the partner with Top Shot that handles the financial side- beta tested a new pack drop on Monday.

Usually, a pack drop would start at a certain time and you would get a randomly assigned number in the queue. Unfortunately, many users would be left out because their queue number was higher than the number of packs available. Enter the new roll-out. The companies decided to do a pre-order roll-out in an effort to guarantee more packs to users.

That was the new drop for Monday and it was a smashing success. At 11 am PST, there were over 150,000 users lined up to get their hands on a pack. When their turn came, they pay with their Dapper balance and their spot is secure.

Still, 150,000 at the time of the queue opening is absurd. The number just continues to rise as people begin to learn about Top Shot and the NFL world as a whole.

The Elephant in the Room

NBA Top Shot isn’t foolproof, believe it or not. While hundreds of thousands of users have an account, there has been a huge issue they are trying to resolve.

The problem? A lot of users can’t withdraw their funds.

https://twitter.com/NBATopShotShark/status/1376262503680913410?s=20

Top Shot released a statement saying they have given access to more users to withdraw and are working tirelessly to gain access to more members.

Still, that’s a huge problem. As of this past week, there are approximately 28,000 users that have access to withdraw funds from the site. However, as of Monday, there were more than 150,000 users in the queue to start. That number would only get higher as time goes on.

The previous drop had over 300,000 people in the queue. With this new pre-order drop, the number should surpass that. However, only approximately 10% of users can withdraw funds.

That’s a major issue Top Shot needs to fix and quickly. As it turns out, there are third-party sites you can use if you are in a hurry to sell your moments.

Trade Deadline Market

The NBA trade deadline was insane. Why is this important?

Well, if you owned a moment of Aaron Gordon or Nikola Vucevic, its value might go up. If you owned an old Andre Drummond moment, the value might increase as well.

Much like regular trading cards, when a player switches team the value tends to increase. That’s a good sign if you held on to some of those older moments from those players.

Nonetheless, the unpredictability of the market as a whole has scared some people off. The drops every week were said to ‘dilute the market, and now Top Shot is cracking down to eliminate bots.

People made multiple accounts with different emails and have tried to monopolize the market. They gift moments to each other and then sell them for a profit. In all honestly, it’s the same with the PS5, XBOX, and even shoes and that kind of stuff.

Still, Top Shot is doing its part in an effort to eliminate it.

 

Seriously, Join Now

If you have been waiting to see if it’s worth it, don’t wait any longer. Make an account and stay tuned for the latest information and drop dates.

However, the general consensus seems to think this ‘hobby’ is overhyped, according to this poll from Darren Rovell of Action Network. 

For what it’s worth, NBA players and some big names are getting involved with the company, including Kevin Durant, Klay Thompson, Kyle Lowry, DK Metcalf, and the GOAT himself.

This signifies that big, astronomical things are on the horizon for the company.

It’s worth it, and it’s fun. You can buy whatever moments on the marketplace (I got a sweet Anthony Edwards slam) and it’s just a fun hobby that could snag you some cash.

This ‘hobby’ won’t be going anywhere anytime soon. It also brings to question whether or sports get involved and follow suit on the latest in the NFT world.

Main Photo:
Embed from Getty Images

Matt Wadleigh, Associate Editor

Matt Wadleigh, Associate Editor

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