100k Moments Burned🔥

Featuring Roadmap Woes, LG's moment locking, Office Hours, and Team Sets.

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Jul 23, 2022

What’s up everybody, it’s LG Doucet here.

GhostofGregOden is getting hitched today (congrats Zach 🎊 🥳) so I’m taking over the newsletter. And by the time you read this, I’ll be in Portugal with my family and TheReelPhilD. Prepare yourself for EuroWhoas.

Let’s get into all the action from the last few days

Leaderboard Rewards

Top Shot held its first Office Hours session in a while yesterday, and although I wasn’t able to listen (was busy with a queue-botched UFC Strike drop), there seemed to have been some spicy details revealed.

TheFirstMint @TheFirstMint

🏀TOP SHOT | OFFICE HOURS🏀 The takeaways from today's session with @Eisenberg43 💥S4 Crafting Challenges feat. Burning & Trading In 💥S2 will be 'heavily used' 💥First leaderboard rewards to be Duo Moments /750 💥Flash Challenges require lots of burning/holding Thoughts?

Series 4 Roadmap Woes

Speaking of Series 4, lets check in with the GM.

Jayne @Jayne

I’ve been grumpy the last few days. S4 roadmap planning getting to me. Fighting hard to deliver on the reset to the economy and product. I’m really excited about the near term future and how it sets us up for S5 and beyond. Now - off to Disneyland to become nice again 🤓🙃🎢

Hmmmm. Disneyland you say.

Although Jayne mentioned 3 weeks ago that the roadmap “was being finalized this week”, I’m happy to see it taking due course.

It should take a while. Series 3 was an oversupply mess, and killed the momentum from the August 2021 Top Shot run up. That can’t happen again.

Now, what is this roadmap going to look like? We don’t know much yet, but this post from a few months back might provide a hint:

Jayne @Jayne

@TS_DRLB even at the expense of what we promised to the community? I would prefer a more flexible roadmap so we could adjust based on real-time data and demand, but also don't want to come off as "unpredictable" or not delivering on promises. do you think that's an issue?

The People Like The Locking

Moment locking (a.k.a. staking) is in full effect on TS, and the community seems to be pretty happy about it!

Although the rewards for staking are not known outside of team melt moments for the top 750 on each team leaderboard in September, it hasn’t stopped collectors from going full in on it.

Jared Magnuson @ThunderHour

My whole @nbatopshot account is now locked. 400/400 and counting.

Personally, I’m a big fan of the locking idea. I think it provides a good aesthetic to Top Shot and gives the hardcore users something to lock forward to, on top of a way to show off their commitment to the platform.

I currently sit 233rd on the Raptors board, and been scoping out a few other low cost/high TSS moments to snag for this.

That being said, many questions still remain about leaderboards and TSS, such as this one from OG Mike Levy:

Michael Levy | flowty.io @mbl267_NFT

Top Shot locking question If I lock a moment today, is the TSS locked? Or if the TSS falls (because Average Sales Price falls) my locked moment will reflect the new TSS (based on the lower ASP)?

100k Moments Burned

As you may know, I am a massive fan of BURNING MOMENTS.

And with locked moments + burning combined, the Top Shot team has now taken a whopping 2.14% of supply off the table for at least 365 days.

TheFirstMint @TheFirstMint

There are 36,856,071 total moments on Top Shot per @EvaluateMarket. 🔒689,208 Moments Locked 🔥100,000 Moments Burned That’s only 2.14% of total supply.

Now of course, you could look at this and only focus on the first number; that there have been almost 37 million moments printed, with no end in sight.

But with the promise that Series 4 will be “net zero” in new moments, we should expect the that supply removal percentage to rise over time.

Just need to know what that looks like sometime before tip off.

Flowty x TFM 🤝

The First Mint is excited to announce our new partnership with Flowty, a peer-to-peer NFT loan and rental platform on the Flow Blockchain founded by Michael Levy (fondly known as MBL throughout the Top Shot community):

Are you an NBA Top Shot collector / investor? Did you know that you can do a LOT more with moments than just buy and sell them?

Need help completing a Top Shot challenge? Rent on Flowty.
Have extra moments for a challenge and want to generate income in a safe way? Rent out your moments on Flowty.
Need liquidity but don’t want to sell your moments? Use moments as collateral to take out a loan on Flowty.
Looking for an alternative way to invest in Top Shot? Generate passive income by lending (funding loans) on Flowty.

Flowty’s rental and loan marketplace allows renters, owners, borrowers and lenders to transact in a safe and easy way!

Want to learn more? Join the Flowty Discord and follow along on Twitter at @flowty_io.

Around The First Mint 🗣

🎧 Crypto Portfolio 101 (Feat. Scott Melker)

We've heard this before: “fortunes are made in bear markets”. But what exactly does that mean? We bring on The Wolf Of All Streets to tell how he approaches portfolio building in the crypto space, and discuss lessons from recent hardships.

🎧 Can Brands Win in NFTs? (Feat. Adam Brotman)

🎧 The Future of UFC Strike (Feat. Malik Jiffry)

Thanks for reading!

**This is not financial advice. Nothing in this newsletter, podcast, or publication should be considered financial or trading advice of any kind. Please do your own thorough research and make your own trading decisions. This is not advice.”

About The First Mint

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