OT- Sports NFTs

[Seinfeld]

A few months back, I posted something about NBA Top Shot, and it’s still plugging along. However, the NFL is now part of the game with NFL All Day, and I was curious if any of y’all were in on the action.

Quick reminder - we’re talking about serialized virtual cards that are made with 3-5 second video clips rather than a picture. After buying packs and adding these things to you collection, the idea is that you can then buy/trade them just like in the old days. I never thought I’d get back into this type stuff again, but it’s easy to get addicted if you’re a sports fan

 

[aTotal360]

I'm on the waiting list.

 

[horshack.sixpack]

I don't get the appeal. I can pull up a clip online of any player i want to see. I really don't understand the money spent on some of these NFTs.

 

[dorndawg]

I don't get the appeal. I can pull up a clip online of any player i want to see. I really don't understand the money spent on some of these NFTs.

I've seen it compared to rare baseball cards or whatever. Like of course you can see a clip of Mickey Mantle, but there ain't many mint condition 57 Topps out there. That said, if you ask me, NFT stands for Not 17ing Tangible.

 

[horshack.sixpack]

Right, but when baseball cards started as a thing, you had people listening to radio broadcasts because games weren't even televised. I can understand as a kid with baseball love/ambition the appeal of having a likeness of your favorite player, trading them with friends, etc. The valuation of those things went through the roof on nostalgia (and rarity), which I kind of get. It's not way different than classic cars. The digital "equivalent", I just don't get at all. Now, once we are all just living in the Matrix, sure...

 

[mstateglfr]

I don't get the appeal. I can pull up a clip online of any player i want to see. I really don't understand the money spent on some of these NFTs.

I blew thru untold amounts of money when I was a kid buying trading cards. Donruss, Upper Deck, Fleer, etc- I kept them in business in the 90s.
As an adult?...I really dont understand the appeal of owning a clip of a player in a game.


I could see the appeal if I were to somehow buy the video of Jordan jumping up and pumping his fist after making the last second shot against Cleveland in '89. If I owned that, I could monetize it, I guess.
https://www.republicworld.com/sport...ver-craig-ehlo-may-7-1989-the-last-dance.html

Anything short of the ability to monetize the NFT and it just seems like a waste to me.

 

[dorndawg]

 

[aTotal360]

It's "untangibleness" is part of what gives it value. You can trade it without barriers. No worrying about damaging it. It's a more easily traded item.

 

[aTotal360]

It's not the clip that has value. It's the desire to own it in it's NFT form. You're essentially selling emotion.

 

[Hump4Hoops]

Top Shot is one of the few uses of NFTs that make sense to me.

It's bringing NFT technology to a card-collecting hobby (people already spend a lot of money on virtual cards for Magic the Gathering, etc.) which is pretty cool.

NFTs as they are hailed as the new future for selling online art is bunk. It's only being used by money launderers or people with extreme FOMO after missing out on bitcoin. No one actually sees thousands of dollars of value in jpegs of poorly drawn monkeys.

 

[Seinfeld]

Definitely not for everybody, but if you enjoy pro sports and collecting, they do add an extra dimension to it. Like this week, they’ve been doing these flash challenges where if you have cards of the Top 5 3 pt shooters, assist/TO leaders, etc on a given night, you get rewarded. Like betting, it can make games that you had no interest in suddenly interesting

Then from strictly a financial perspective, I had an opportunity back in December to buy a $1000 “legendary” pack, and you don’t even have to say it… why the 17 would someone do that? Well, I did it and within 48 hours, I sold the Karl Anthony Towns that I pulled for $3500. All from my phone no less.

It’s a crazy thing, and the bubble may burst at some point, but it’s doing nothing but gaining momentum right now

 

[ckDOG]

Tale as old as time.

It's not the clip that has value. It's the desire to own it in it's NFT form. You're essentially selling emotion.

As long as people are emotional and want a limited item, it'll trade. Baseball cards, beanie babies, pokemon, magic the gathering, bitcoin, NFT. None of it really offers anything special or any actual utility or consistent way of generating revenues. There's just a market that is emotionally attached to it and will exchange USD for it. Not my cup of tea, but who am I to judge?

 

[PooPopsBaldHead]

I have stolen billions of dollars worth of NFT's throughout my life so far. The trick is, you have to click on the image and select "download file." If security is high, you may have to take a screenshot.

ETA. I plan to hang them on the wall when I build my dream home in the metaverse. When the house is finished, you can all come over for a virtual BBQ.

Just bought my lot in Decentraland. Hope to break ground in the summer when virtual lumber prices come down.

https://fortune.com/2021/12/08/how-to-buy-digital-real-estate-metaverse/

 

[aTotal360]

I'll disagree about the art. Pictures of renaissance artwork will likely never catch on, but if a modern artist starts doing exclusive art via NFT, people will flock to it.

Banksy sold NFT "pieces" of his most famous painting. He divided the painting into 10,000 pieces and sold them for $1500/each. That's $15M for the whole damn thing.

Again, your selling emotion, not a tangible product.

People pay lots of money to own virtual items in video games. They would do the same thing with art.
https://estnn.com/10-of-the-most-expensive-items-in-video-games-ever/

 

[aTotal360]

Exactly. You can argue the Honus Wagner's card is only worth 1 cent because that's all the ink and paper is worth. But that's now how it works. People have to get over that hump in their mind.

 

[ckDOG]

So how does the 10,000 pieces work in this example?

I'll disagree about the art. Pictures of renaissance artwork will likely never catch on, but if a modern artist starts doing exclusive art via NFT, people will flock to it.

Banksy sold NFT "pieces" of his most famous painting. He divided the painting into 10,000 pieces and sold them for $1500/each. That's $15M for the whole damn thing.

Again, your selling emotion, not a tangible product.

People pay lots of money to own virtual items in video games. They would do the same thing with art.
https://estnn.com/10-of-the-most-expensive-items-in-video-games-ever/

For me, art could be personal and you hoard it. Or you could charge admission to see it in a gallery and create a revenue stream. For the chopped up Banksy art, is there a way to charge money to view it outside of the 10,000 folks that own it? Or is the 10,000 ownership pieces the only way possible to view it? Or is it just the satisfaction of knowing you "own" a piece of that art despite not controlling who can view it or being able to make money off it aside from selling your individual share?

 

[horshack.sixpack]

Diamonds...

 

[horshack.sixpack]

Lemme show you my piece, just step over here on the internet...

 

[mstateglfr]

It's not the clip that has value. It's the desire to own it in it's NFT form. You're essentially selling emotion.

Right- and at this age, my desire to own it in its NFT form would be to then license it out. Anything short of that and it isnt appealing to me. I could just download a gif or copy a youtube url and download a clip of it if I want to 'own' some specific move/play.

Me at 12? Sure, I would probably collect and trade these because the concept is the same as cards. 25 years later I would have a virtual box of NFTs that is meaningless to me instead of a physical storage bin of cards on a shelf in the basement.

 

[aTotal360]

Hard to say. I don't think people are charging admission to view it. Again, it's all about the emotion someone has saying the officially own a piece of Banksy art. Whether that piece is digital or physical, people are attracted to the idea of it.

People want to poke fun at being able to "copy and save" a picture. But that's the difference between between owning The Mona Lisa and having a poster of it. The canvas and paint isn't worth that much. But owning THE version of it by it's creator makes it priceless. Same with NFTs.

I play a lot of video games, so that's probably why I can relate to it. I see digital skins sell for cash all the time. I've done it myself. I sold a sword in Guild Wars in the mid 2000s for several hundred dollars.

I will also add I have zero plans on spending a lot of money on NFTs. But I do like football cards, so maybe I will.

 

[ckDOG]

As long as the motive is for entertainment/joy/speculation

Hard to say. I don't think people are charging admission to view it. Again, it's all about the emotion someone has saying the officially own a piece of Banksy art. Whether that piece is digital or physical, people are attracted to the idea of it.

People want to poke fun at being able to "copy and save" a picture. But that's the difference between between owning The Mona Lisa and having a poster of it. The canvas and paint isn't worth that much. But owning THE version of it by it's creator makes it priceless. Same with NFTs.

I play a lot of video games, so that's probably why I can relate to it. I see digital skins sell for cash all the time. I've done it myself. I sold a sword in Guild Wars in the mid 2000s for several hundred dollars.

I will also add I have zero plans on spending a lot of money on NFTs. But I do like football cards, so maybe I will.

Can't argue against it. If for legitimate investment purposes, that's going to be a no for most people. I hope folks aren't putting much money into these things hoping for any long-term financial returns.

 

[horshack.sixpack]

Yep. If it's a fun hobby, or you just like it, enjoy. I get hung up because it would just be for potential investment and since I don't get it, it's too high of a risk for me.

 

[NTDawg]

I have stolen billions of dollars worth of NFT's throughout my life so far. The trick is, you have to click on the image and select "download file." If security is high, you may have to take a screenshot.

ETA. I plan to hang them on the wall when I build my dream home in the metaverse. When the house is finished, you can all come over for a virtual BBQ.

Just bought my lot in Decentraland. Hope to break ground in the summer when virtual lumber prices come down.

https://fortune.com/2021/12/08/how-to-buy-digital-real-estate-metaverse/

Buying NFT homes in the metaverse is weird **** but we could have SPS neighborhood with wild *** block parties every weekend.

I think was the JRE podcast with Ari Shaffir and Tony Hinchliffe that one of them was real into the virtual world and hung with folks at virtual bars.

 

[ckDOG]

Anyone in the market for non fungible farts?

I have your woman

https://gizmodo.com/tiktok-star-who-sells-her-farts-in-jars-starts-selling-1848305521

 

[MS-halfstep]

Against my better judgement I'll take the bait here and try to unpack this.

ffs, I just can't even wrap my head around this. $1K bucks for a fart jar, I mean there are some sick weirdo's out there so I can perhaps see that happening. But a NFT fart jar and you can't even smell the fart

And to top it off they actually put this in the article:

"Matto has launched a website selling 5,000 fart jar NFTs for .05 ether, which at the current exchange rate works out to about $191, not including ethereum’s notoriously high gas fees."

 

[dorndawg]

Buying NFT homes in the metaverse is weird **** but we could have SPS neighborhood with wild *** block parties every weekend.

I think was the JRE podcast with Ari Shaffir and Tony Hinchliffe that one of them was real into the virtual world and hung with folks at virtual bars.

Username ALMOST checks out.

 

[rynodawg]

I looked into it when MLB started it last year, but the packs were sold out instantly and haven’t thought about it since then. For that $3,500 sale, are any of those sites tracking and reporting that stuff like a brokerage, or are income taxes just not a factor? Most people would just not report normal trading cards.

 

[PooPopsBaldHead]

Just throwing this out there for the entire board... You want a fart jar, let me know. I will hook you up.

If you really want something special, send me your pillow. I will fart on it and ship it back. When you lay down in the bed at night for the next few months, it will be like I'm right there with you.

 

[Beretta.sixpack]

Read today where ETH brings in $1B a month on NFTs....

A few months back, I posted something about NBA Top Shot, and it’s still plugging along. However, the NFL is now part of the game with NFL All Day, and I was curious if any of y’all were in on the action.

Quick reminder - we’re talking about serialized virtual cards that are made with 3-5 second video clips rather than a picture. After buying packs and adding these things to you collection, the idea is that you can then buy/trade them just like in the old days. I never thought I’d get back into this type stuff again, but it’s easy to get addicted if you’re a sports fan

If ETH is bringing in $1B a month on NFTs, i can only imagine where ETH is going when ETH 2.0 goes live and the NFL is involved with NFTs....glad i own a couple of ETH tokens...

 

[Quincy A. Wagstaff]

receipts but on a centralized blockchain!

I don't get the appeal. I can pull up a clip online of any player i want to see. I really don't understand the money spent on some of these NFTs.

The first step to understanding the disruptive nature of NFTs is to learn the history of how receipts evolved to solve the problem of reminding you and other people that you bought something 1/243 — Phil Geiger (@phil_geiger) December 28, 2021

 

[JungRebel]

It's a really easy way to move large amounts of money on a pseudonyms platform and the wash trading possibilities are almost endless. What's not to like about that?

 

[JungRebel]

Yeah but have you seen how much gas is required to ape shitcoins on Ethereum? Racket.

 

[Beretta.sixpack]

It is a racket. And its not going anywhere anytime soon...

NFTs and gaming love them some 2.o.....everyone complains about gas fees, but it keeps going up.....i hate speculating on price, but ETH is a use token....i wouldn't call it a **** coin....looking for 8-10K this cycle

 

[PBDog]

NFTs and gaming love them some 2.o.....everyone complains about gas fees, but it keeps going up.....i hate speculating on price, but ETH is a use token....i wouldn't call it a **** coin....looking for 8-10K this cycle

If the fees are high doesn’t that mean usage is high? It is called gas right?

 

[OneParticularHarbor]

A few months back, I posted something about NBA Top Shot, and it’s still plugging along. However, the NFL is now part of the game with NFL All Day, and I was curious if any of y’all were in on the action.

Quick reminder - we’re talking about serialized virtual cards that are made with 3-5 second video clips rather than a picture. After buying packs and adding these things to you collection, the idea is that you can then buy/trade them just like in the old days. I never thought I’d get back into this type stuff again, but it’s easy to get addicted if you’re a sports fan

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[UpTheMiddlex3Punt]

NFTs are dumber than Beanie Babies. Because it's like a Beanie Babies, but all you're getting is the 17ing Ty tag.

 

[JungRebel]

Not calling ETH a shitcoin, calling 90% of eth tokens shitcoins

 

[PBDog]

NFTs are dumber than Beanie Babies. Because it's like a Beanie Babies, but all you're getting is the 17ing Ty tag.

I hear it is setting up to be the new music outlet - no more music execs. Complete disruption of the entertainment industry.

 

[Quincy A. Wagstaff]

Just because a sports league or celebrity gets behind a project

doesn't mean it isn't a scam. These people are paid to shill. Doesn't mean it's going to make you rich.

 

[sandwolf.sixpack]

I have stolen billions of dollars worth of NFT's throughout my life so far. The trick is, you have to click on the image and select "download file." If security is high, you may have to take a screenshot.

Haha, I enjoyed this explanation of NFT's.

View attachment 23542