Ep.236: NFT Investing: Should You Buy NBA Top Shot

Sean: What is your most favorite Top Shot moment you bought so far? What is Top Shot first? Maybe we have listeners here who don't know. Marvin: Do you want the blockchain answer or you want the simple answer? Let’s go with a simple answer. The best way to say it ist, it's like NBA cards, but it's a video version which is online. That's it. You collect it online. That's what it is basically. You're collecting moments. If with NBA cards, you're collecting pictures printed out on cardboard. In Top Shot, it’s a digitized format which is videos. That's what it is basically. Sean: Do you have a favorite? Marvin: When you go that route, you can separate it as what you look at as an investment, and then what you look at as a collection. So if it’s a favorite as a collection, it would be Steph Curry. This is what I believe also, NFTs, I think will be easier accepted as an asset than other Cryptocurrencies that people don’t understand. Why? People understand that when I buy a LeBron James, I get to understand the value easily as compared to what is a Chainlink, what is an ADA, what is XRP, what is Litecoin. It's harder to grasp the value of it versus if you look at it as a collector. So I think that the inherent value of it also will be, a lot will buy the NFT, some of them have no intention of selling it. So I'll give you an example. There was a pack drop, I think it was the rare All Star collection. So I said, if I will be able to get a Steph Curry, even if it’s expensive, I will never sell it. So I think that's the demographic that you get there also. People always think that those who enter Top Shot are all investors. Not necessarily because it is just like a condo. Not all who buy a condo, will have it rented out, some of them will live there. So it’s the same with Top Shot. There will be a chunk of people that will buy it because they're really collectors. So it's not income generating for them. The fact that you own it, it’s a different feeling. The argument in NFTs is that it’s just a video. You can watch it on YouTube for free. That’s true, but it’s the same with the NBA cards. I can screenshot that shot by LeBron James, then I’ll print it and copy how it’s laid out. Or if you notice it also, there are those who upload their cards, right? Just use it and edit it on Photoshop, then copy it and print it. However, it does not have the same value as the real thing, the bragging rights that you own it. So imagine this. I feel that you're into Pokemon cards, Sean. Sean: When I was young, yes. Marvin: I don't know anything about Pokemon cards, but the prestige of owning something that is very, very rare, but here’s the difference with Top Shot. In Top Shot, because it’s a blockchain network, people will see who the real owner is. If it’s a card, no one knows where it was stored or who bought it or where it came from. It will be hard to display how rare it is. Unlike in blockchain, everything is seen on what its value is. You can also see all the transactions. For example, there was an artwork that was, I think, $68 million by Beeple, if I remember properly. Everyone knows that he was the one who bought the artwork. So the prestige to that, I think that's what makes it interesting. Even the Mona Lisa, there are so many fake Mona Lisa paintings that you can buy in the mall.  But it does not mean that that has any value. It's more of the rights that you own the real thing. Youtube: https://www.youtube.com/leadershipstack Join our community and ask questions here: from.sean.si/discord Facebook: https://www.facebook.com/leadershipstack