Gifting Gone Wild 🎁

The First Mint
The First Mint
Featuring NBA Draft Talk, Market Movers: Finals Recap, Offer System Goes Live, Gifting Gone Wild & More

Good Morning, NFT Squad! Hope you all had an excellent weekend!
One of my favorite days of the year (the NBA Draft) came and went on Thursday, and much to my dismay — it was a relatively chaos-free night!
There were only a few small trades, with the most drama coming from whether Adrian Wojnarowski or Shams Charania would break each pick first. A tradition unlike any other!
One of the biggest surprises was the Orlando Magic taking Duke forward Paolo Banchero #1, after convincing most of the world they were going with Auburn’s Jabari Smith.
And prior to the draft, several Top Shot collectors ended up getting some court time with the eventual No. 1 overall pick:
NBA Top Shot
Collectors getting to shoot around & play knockout with a special guest 👀

@Pp_doesit x #NBATopShotThis https://t.co/5i38rSSGL2
Let’s get into all the action from the last few days:
Market Movers: Finals Recap 🏆
We had one of the biggest drops of the year on Thursday, with the S3 Legendary Finals moments entering the TS ecosystem.
At $999 (with a $200 Dapper Credit), these were pricey but ultimately likely worth it for the chance at snagging the Steph Curry moment, which is holding some serious value on the MP:
TheFirstMint
🏆TOP SHOT | FINALS FLOORS🏆

Top Shot S3 NBA Finals Legendary moments have hit the marketplace

Floors:
🧊$4550 - Curry
🧊$1486 - Tatum
🧊$1190 - Klay
🧊$969 - Wiggins
🧊$950 - Green
🧊$860 - Brown
🧊$790 - Smart
🧊$669 - Williams

GSW moments receive the Championship Year badge https://t.co/TFVrkKE98G
Factoring in the $200 in credit, the only real ‘loser’ packs as of now are those that pulled Robert Williams — but the good news is that with Steph already in packs instead of as the challenge reward, I doubt we see as huge of a drop-off after the Jordan Poole challenge wraps up on Tuesday.
Offers Up 🤝
After a soft-launch over the last few weeks, the offers feature officially rolled out to the entire Top Shot platform this week. Some data on the first day of activity, via OTM:
Own the Moment NFT
Offers are firing across the @nbatopshot community!

Some data for the first 24hrs (through yesterday 5ET):

✅ Total offers: 15,072
✅ Offers accepted: 1,442
✅ Highest accepted offer: $12k
✅ Offers below OTM TV: 94%
✅ Offers above $20: 32%
✅ Player with most offers: LeBron
Full blog with all the info on the process here.
Offers will hopefully go a long way with connecting buyers and sellers, just like we see on platforms like OpenSea and LooksRare with more traditional NFTs. This is hopefully the first of many steps to improve the marketplace experience, with agenda items like unopened pack selling, trades, leaving beta, etc. all waiting in the wings.
One step at a time!
Gifting Gone Wild 🎁
Top Shot announced a polarizing update to the gifting system on Thursday, likely in reaction to the user who was gifted tons of moments and then pulled the Legendary Magic Johnson jersey serial:
Top Shot Community
We are actively building a feature that'll assign gifted Moments a Top Shot Score of 0 for 30 days after they are gifted.
From what I gathered from the Magic issue above, this wasn’t a case of a user cheating the system, but merely playing the game within the rules Dapper had allowed.
So this to me feels reactionary, and will (like always) have ripple effects that lead to other issues.
Here are some takes from a few people smarter than I, who also seem unhappy with the result:
Jon Jackson
Ahh the angry Twitter Spaces mob wins again

The issue is…
1. TSS doesn’t scale and there’s no incentive to have extra
2. You shouldn’t be able to acquire a bunch of TSS w/o spending any $$$

1 leads to 2

No TSS for 30d is the EZ button fix, matter of time before next loophole https://t.co/tljpTszEBd
Michael Levy | flowty.io
1. User takes advantage of poorly constructed system

2. ‘Keep the system & just make *another* rule’

- strips even more ownership from ‘our’ NFTs
- opens diff loopholes to police ($1 offers=gifting)
- further disincentives keeping/getting high TSS
- 📈 complexity for users

😵‍💫 https://t.co/IvQfZbm218
Around The First Mint 🗣
Thanks for reading! — Zach @ The First Mint
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The First Mint
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