🎙️We Need More $5 Packs
The first Top Shot redemption, NHL is coming to NFTs, and the "Chesstival" is born.
What’s up everybody, it’s LG Doucet here.
Listen.
We need more $5 packs around here.
No, I don’t mean locker packs full of 60k moments.
I mean stuff thats fun to open. Stuff that is easy to open. Stuff that new people will want to open, and spend a lil’ $10 or $20 trying out.
We’re over two years into this game, and almost a full year into this bear market; and yet, we’re still seeing packs drop for $200, $600, or more. And that’s across all types of projects.
It’s not that I’m against high value assets - if anything, I’m more for scarcity than I am for over supply and a $1 floor.
But the inevitable truth is that many of the “casuals” we want these projects to attract are not $600 pack buyers. Not in this market. Maybe not ever.
There must be a way to give everyone a fun pack experience, make it cheap, and still develop a market with high value assets (rare ones).
I think it could be as simple as keeping those big assets hidden in common packs, rather than propping them up with high prices.
For example, if a new person has $100 to spare, which path are they more likely to follow and feel good about:
Path A: Buy a $5 pack with a 0.1% chance of a rare card, try again for $5, and eventually rip 20 total packs.
or
Path B: Buy a $99 pack, with a guaranteed rare card, sell it off, and never return.
Of course, these scenarios are bias towards the point I’m trying to make - but path B is so bland. Is it really that fun to be guaranteed something in a particular?
Whereas Path A may not yield a rare at all, but kickstarts a new person’s collection and gives them more to think about, even if they didn’t land anything “good”.
If someone were to launch a collectibles project from scratch today, do you think they should follow Path A or B?
Well we’re about to find out, as the NHL is set to unveil their NFT plans this coming Sunday April 30th.
And yes, we definitely talk about that and the Top Shot redemptions on this week’s pod…
🎙️210 - Top Shot Redemption Strategy, NHL Is Coming to NFTs, $200 For Packs is Too Much, and "Chesstival"
Good news - we actually stay on topic this week!
We kick off by recapping the NBA Playoffs, and doing one of the FIRST EVER Top Shot Redemption moments (Brooklyn Nets lol). We then drop into a chat about the NHL's upcoming NFT collection, and what they could get done with a fresh slate in the space (fingers crossed)
In today’s episode:
3:45 - Phil’s awkward Evaluate story
6:00 - Phil went to the confessional box
18:00 - Warriors vs Kings; Fox injured?
28:00 - The East is boring AF
32:30 - NBA Top Shot Redemption Strategy (Butler for $3?)
45:00 - Dillon Brooks
58:00 - LG just joined TikTok and loves it!
1:02:00 - Oilers vs Kings; Tik Tok solved it?
1:07:00 - NHL Breakaway (NFTs)
1:11:00 - Udoka signs with Houston
1:13:00 - The Ideal NHL NFT project
1:23:00 - Why are there $200 packs?
1:27:00 - We need better fandom benefits
1:37:00 - Quick Hits, Fall Out Boy + “Chesstival”
1:42:00 - Hot Take of the Week
1:53:00 - Phil was obsessed with Topanga from Boy Meets World
2:01:00 - Candy Plays of the Week
🔥Hot Take of The Week
This one came as a request from a long time listener, who seemed to know that Phil would have deep rooted opinions about 1990s TV shows.
And the lucky winner….
Phil really loved this answer, and referred to the “Who Shot Mr. Burns” saga as prime storytelling that would fit NFTs really well.
⚽ Live Now | FREE Pack on Golazos
Cost: Free / $20 / $200
Supply: Open / 4,800 / 700 packs
Time: Available now!
Thoughts: Always love to see FREE packs on any project, so hopefully this brings tons of new people into the Golazos ecosystem. They are available until May 8.
⚾ Live now | Candy MLB Plays of the Week
Cost: $30 / pack
Supply: 848 packs per team
Time: Available now!
Thoughts: These did not sell out last week, for the first week of the season. However, they are removed from sale by the end of the week, keeping that scarcity up!
🏉 April 28 | AFL Round 5+6 Packs
Cost: $26 / pack
Supply: 350 packs
Time: 10pm PT Thursday Night
Thoughts: These packs on AFL have actually been selling out! So keep an eye out later this week when Round 5+6 goes on sale.
Overall volume down again, although a yuugggee surge for Candy Digital on the charts!
On the Unique Buyer side, a big (and expected) surge for NBA Top Shot as many people came to the platform to grab some redemptions.
Sometimes I write tweets just to make people snap, and sometimes I write tweets because I’m genuinely curious.
This one was both.
And hey listen, the hockey playoffs are on folks!
But does that mean that any of you know anything about hockey?
Man, what is going on with that last answer.
And last, another classic throwback:
**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
A web3 sports community. Collectibles, NFTs, and Metaverse.
Tweets and Newsletters are not endorsements.