Weekend Wrap Up: Major Sales
This week, we saw a new unofficial Top Shot record sale for a total of $1,055,000. What else is upcoming to Top Shot, though, and what else has happened in the community?
We might’ve seen the craziest transaction in Top Shot history last week so far.
Top Shot users, Dingaling, who has an account value of $5,260,914, and Baller_Basket, whose account is evaluated at $1,501,192, per MomentRanks, sold Moments for a new Top Shot record.
Baller_Basket sold Dingaling 73 #1 serial number Moments and 7 Top 5 Holo Moments for $1,055,000. The reason it’s an unofficial record is that the transaction happened off-site because Top Shot has a limit where you can only buy Moments for under $250,000. So far, nearly all of the most expensive transactions have been through bidding auctions off Top Shot or communicated through DM'S on Twitter like these two.
But, wow. That’s a big payday for Baller_Basket who's account is still evaluated at over $1,000,000.
Nevertheless, that was just one big story in the Top Shot community this week. Let’s take a look at what else happened and what’s to come.
Packs
We saw multiple pack drops last week, with one being a Premium pack and another as a stress test.
Premium packs had more exclusive restrictions to queue up than Holo packs that were released a week prior. The restrictions to queue up were as followed:
Own 15+ Moments; OR
Own 1+ Metallic Gold LE Moments, OR
Own 2+ Rare Moments
But, you must’ve spent $99 on the marketplace
Just under 70,000 collectors were able to queue up, and rebound packs were also in the same queue, to where if you weren’t lucky and land inside the top 17,000, you would receive a Base pack if you stayed in line.
Also, a stress test was announced only about an hour before the test, where 100,000 Base packs were distributed, and when the queue started, there were fewer people in line than packs! This brings me back to the times in January, where Base packs would release and collectors could easily get themselves more than one pack.
This also could correlate to collectors that have lost interest or belief in Top Shot. Collectors have gotten tired of looking at their collection value decrease while the market keeps tanking, thus causing doubt from users in the product long term. This market is testing collectors' patience, and some have decided to stop collecting, which is understandable.
The good news for believers in Top Shot for the long haul, like me, is that fewer people could queue up in line, giving you a greater chance to snag a pack!
For packs in the future, it’s still said that Holo Icon, Legendary Playoff, and Common Playoff packs are all highly likely. Also, a marketplace is expected to come for unopened packs; this is where people can sell their unopened packs to other collectors who might’ve been unlucky to get a spot in line or collectors who want to reopen that particular pack.
Another update with the marketplace is, shortly, Top Shot expects to raise the cap you can sell Moments for above $250,000.
Withdrawals
Now, over 50% of eligible collectors can withdraw funds. Even better - 90% of withdrawals are being processed within a week.
Expect the number of eligible collectors to withdrawal to continue to increase as the Dapper team is working hard on this aspect of Top Shot to please collectors.
If you live in Canada, bank withdrawal processing should come in the next few weeks.
Collector Score
Right now, known as Baller Status, it will soon convert to a new naming of collector score.
As you buy Moments, the score goes up, and as you sell Moments, your score goes down, but there will also be more dynamic ways to improve your score, like completing a challenge.
Collector score is meant to be a better determinant to show the true collectors compared to collectors looking to flip Moments eventually to withdraw. Expect collector score to be a requirement for certain pack drops in the future once implemented.
All views are my own.