The King Enters The Metaverse 👑
The First Mint
Featuring A Deflationary Supply, Ticket Tools, Goat Games, Challenge Corner & More
Good Morning, NFT Friends! Happy Thursday — hope you had some great luck in the queues these past few days!
Let’s get into all the action from the last few days:
A Shrinking Supply 🔥
With both Trade Ticket Stress Tests and the All-Star Elite Ticket drop in the books (Standard drop is TODAY at 10 AM PST), we saw a whirlwind of moments getting sent to the Locker Room over the past week.
A good thread on the trade-in data via @jonboybeats:
Alright it’s been a full 72 hours since the “Packs 4 Trade Tix” announcement…
Here’s what happened
March 4-5: 217k tix trade in
March 5-6: 179k tix
March 6-7: 156k tix
Total of 552k moments have been turned in. Shoutout to @NestMaps for the help.
What about existing supply?!
The numbers in the thread are pretty surprising, and (assuming they are correct) could get really interesting after a few more ticket-related drops.
While I don’t think your average 60k moment is going to become valuable just from scarcity alone, Top Shot continuing to add strong incentives and utility for tickets makes them more than the pennies they were before.
My packs this week were still pretty gross, but the Twitter machine was buzzing with some nice Legendary and Rare pulls. And, in some cases, two of the same legendaries in consecutive packs (multiple users in the thread below):
As a #MFFL, I’m indifferent on my pulls. But I’ll take it. @nbatopshot #NBATopShotThis @LukeKennard5 https://t.co/VqDh2Jc0Zi
These dropped marked my first dive into trade tickets — and this great tool from MomentNerd really made a difference in the process:
🤓🚨 NEW TRADE TICKET TOOL 🤓🚨
With the @nbatopshot trade ticket packs coming this week, I coded up a simple tool to help decide which Moments to trade in for tickets.
🏀 Enter TS Username
✅ Select Moments
♻️ Go to TS site to get tickets
https://t.co/I9nj3VxcIg https://t.co/x8woUYG3qi
Goat Games 🐐
If you haven’t been following NFL All Day, the ride has felt a bit similar to the negativity in TS — with the pack churn and high price points creating a bit of a disappointing start.
However, one thing I’ve said from the start of All Day is that they’ve gotten great buy-in from a tier of NFL stars that Top Shot couldn’t capture until over a year in the platform’s lifespan (Wade, Durant).
A curious teaser was posted Wednesday from Patrick Mahomes, featuring a cool VR/AR moment experience of some sort:
3.15.22 @NFLALLDAY https://t.co/Bkq8i629yx
Elsewhere in the NFT world, we saw another superstar make a move into the space:
LeBron James filed 4 trademarks for use on digital assets from virtual footwear to basketball courts in the metaverse.
A thread: 🧵👇
https://t.co/q8NI7Hlpgl
Outside of Top Shot, we haven’t seen a ton of successful individual player-led projects (R.I.P., DeAaron Fox’s NFT reputation). However, LeBron is more akin to a Nike or Adidas — he is an institution.
It’ll be interesting to see what direction he takes — we know LBJ is quite the businessman, so I doubt he’d let himself be a part of a cash-grab or low effort project.
Also, the LeBron James kid should definitely mint his video as an NFT:
Challenge Corner 🏆
Only one active challenge (Wednesday’s Flash Challenge below), but we’ll likely see the next batch of legacy challenges after Thursday’s All-Star Standard drop.
Flash Challenge: Raising The Bar
Reward: Josh Giddey MSFE
What’s Needed: Moments from the top 5 leaders in FGM & assists
TFM x BookMate 💸
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Bookmate is offering readers of The First Mint Newsletter a free 30-minute tax consultation to discuss your tax situation. Book a call today!
Around The First Mint 🗣
🎧 We Are All Explorers (Feat. Jasmine Maietta)
🎧 There Are Too Many NFTs to Collect
Thanks for reading! — Zach @ The First Mint
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