Bidding currently at $30K on a fractional share of a video clip at Heritage Auctions

Aquarian Sports Cards · #1 02-13-2021, 10:46 PM

Quote:

Originally Posted by Mark17

But you still aren't the chump - I mean owner - of record.

Somehow I'll manage to live with the disappointment...

MattyC · #2 02-13-2021, 11:04 PM

This thread is the comedy I needed today. Great material, gents. I hope the Sunday show is half as good!

h2oya311 · #3 02-13-2021, 11:43 PM

WTF is this garbage? Either I�m really dumb because I don�t get it or this crap is so far fetched that everyone who buys into it is dumb. Maybe that�s the point. It�s so ridiculous that I feel like I need to try out a �base� digital blah blah blah for <$20 so I can feel part of the game and not �miss out�.

Seriously though, is this like the emperor�s new clothes?

Seven · #4 02-14-2021, 12:26 AM

I thought I saw it all when you could buy shares of stock in a player a while back (I believe it was Arian Foster) this takes the cake. Where do we go from here. Does anyone want to buy fractional shares of athletes memories? For the low price of $4000 you too can buy a video recorded memory from Michael Jordan's Brain!

drcy · #5 02-14-2021, 12:40 AM

Hmm.

Prof_Plum · #6 02-14-2021, 07:00 AM

Pfft. It's not even 3D.

Snapolit1 · #7 02-14-2021, 06:02 PM

I have no idea if this will catch on. But I have no reason to mock it and talk about how it's the end of collecting, second coming of the apocalypse, etc., etc. It's strikes me as far fetched, but who knows. Innovation is good. I'm sure the guy of Wall Street who proposed the first mutual fund in 1924 was roundly mocked by every grey haired old trader in town who calmly announced without the slightest reservation that it was the most ludicrous thing they had ever heard of. A lot of things have struck me as asinine and worked out quite well for others. ("Why in the world would anyone want to buy a 4th floor walk up in Greenwich Village in NYC for $235,000??? Ha ha ha. That's the funniest thing I have ever heard!).

BillyCoxDodgers3B · #8 02-14-2021, 10:50 PM

Brought to you by Steak n' Chop?

seanofjapan · #9 02-16-2021, 11:11 PM

Quote:

Originally Posted by Snapolit1

I have no idea if this will catch on. But I have no reason to mock it and talk about how it's the end of collecting, second coming of the apocalypse, etc., etc. It's strikes me as far fetched, but who knows. Innovation is good. I'm sure the guy of Wall Street who proposed the first mutual fund in 1924 was roundly mocked by every grey haired old trader in town who calmly announced without the slightest reservation that it was the most ludicrous thing they had ever heard of. A lot of things have struck me as asinine and worked out quite well for others. ("Why in the world would anyone want to buy a 4th floor walk up in Greenwich Village in NYC for $235,000??? Ha ha ha. That's the funniest thing I have ever heard!).

Yeah but for every guy who was (in retrospect) wrongfully mocked for inventing mutual funds (or something similarily succesful) you've probably got 100 guys who were rightfully mocked for inventing things like futures markets for Hummel figurines or something like that.

This seems to me like something that will fall into the latter category. Mutual funds make sense. Apartments in NYC being expensive makes sense. This does not.

The whole thing raises a lot of red flags. It sells it as you "owning" an NBA play, but its not legally possible to have a property right in an intangible event like that.

Reading over their contract, what you have is a contractual right to "own" (defined in the contract in a different way from the legal definition of owning something as property) a "non-fungible tolkien" that only exists in their App. Then there is a huge amount of text containing disclaimers which absolve them of any responsibility to you, the person who buys one of those things, if things go south in any way shape or form. It also makes you give up your right to sue them in a court of law for anything they do.

So BUYER BEWARE. If this company goes bankrupt, or they just decide to shut their app down because it isn't making any money for them anymore then POOF, your non-fungible tolkien is magically worth zero and you have zero legal recourse against anyone.

https://www.nbatopshot.com/terms

swarmee · #10 02-26-2021, 05:10 AM

Bidding now at $52,500 with 2 days remaining. And NBA Top Shot has actually blown up so much, because the management team is taking packs out of circulation in order to give them away to internet influencers and NBA players. So the hype continues to grow around this, but the servers and company cannot handle the traffic. Buying packs is almost impossible because of the huge numbers of users and bots trying to access the site in time to be part of the randomized selection to get a pack.

Secondary market values on even the newest common moments shot from $2-4 each to $50 minimum over the last week, and now those same clips are selling around $15-20. It's been pretty crazy to watch.

SWinn · #11 02-26-2021, 11:45 AM

My opinion on this is a lot different than others:

These guys bidding this up like crazy will all be buying vintage cards eventually, when they realize where the value is. It never fails. Junk card era of the early 90's: they're all buying T206 and later cards these days.

I work in futures and when cryptocurrencies came along and the younger dem. was daytrading them like nuts pretty much all of us predicted these same guys will be trading stock and futures roughly 6 months later when they realize what a waste of time it was. And they did. Retail trading apps are exploding these days, with many thanks to crypto.

So I dunno. Let them do it IMO. See ya on the other side lol.

swarmee · #12 02-26-2021, 03:39 PM

There was a pack release today at $99/pack for 6 moments: one /499 "Metallic Gold Limited Edition" and the rest /15,000 or more copies. They had 175K accounts trying to purchase during the 15 minute window they were available to get in the random line. Only 10,000 packs were awarded, and 1,000 more were held back for more influencers/players. I've seen people selling their pack they bought immediately for $1,100 cash or opening them and selling their /499 clip for thousands by itself. Then when the network opened up to trade/sell cards on site again, the servers got overloaded again and they restricted sales, again.
So if you were one of the 6% who got a pack, good on you. But companies can only provide this poor level of service for so long until their core customers get annoyed and leave. Currently only 6K of the accounts are permitted to withdraw any money because they are totally unprepared to meet government regulations, specifically the "Know Your Customer" provision.

bbcard1 · #13 05-23-2021, 07:25 PM

While I am not active in the market it really is quite interesting. I find it amusing that a bunch of buys (myself include) see the value in a 1933 Goudey Ruth but not a color copy of it. Here's a half decent primer.

https://www.npr.org/2021/03/22/97998...fungible-token

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Heritage Auctions #50028 Bidding Ends - July 30-31!	petecld	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	07-29-2020 01:02 PM
Heritage Auctions #50026 May 7-9 � Bidding Ends Starting Tonight!	petecld	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	05-07-2020 03:53 PM
Heritage Auctions - Open for bidding!!!	e107collector	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	24	10-09-2015 09:12 PM
The Heritage Auctions- Leon Luckey Collection is open for Bidding	Leon	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	111	07-17-2015 11:23 PM
Not sure if posted yet, but video clip on autos	tcdyess	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	08-31-2012 12:47 PM