It's Showtime 🤩

#178・
184

issues

The First Mint
The First Mint
Featuring the Magic Johnson Drop, RIB Theories, Multi-Accounting Mayhem, Crafting Leaks & More

Good Morning, NFT Fam! Hope you had a great weekend!
We’ve got a series in the NBA Finals, with the Warriors bouncing back to even things up at 1-1. And much of the energy shift can be attributed to Draymond Green, who spent most of Game 2 roughing things up and getting under the Celtics’ skin.
This sequence in particular was pretty hilarious:
Let’s get into all the action from the last few days:
It's Showtime 🪄
We’ve got one of the most hotly-anticipated drops in recent memory on Top Shot today, with ‘The Anthology: Magic Johnson’ highlights hitting the platform at 11 AM PST.
Each pack (featuring one of four possible moments) costs $399 — and 1,600 total packs will be available across the two queues. Full details available here (a very slick landing page, kudos to the TS design team).
This will be an interesting one to watch on the marketplace, considering it will be going back to the platform’s ‘collectible’ roots:
Top Shot Community
@JCRLA77 @nbatopshot @MagicJohnson @roham @Jayne @Eisenberg43 @TopShotEcon There will not be any challenges tied to The Anthology: Magic Johnson.

You’re free to use the Moments in future challenges that require the criteria (Lakers Moment, Rare Moment, etc) but there won’t be any challenges specific to Magic Moments.

See you June 7!
And to be honest, I love it! I miss the days of Top Shot having ‘grail’ type moments (LeBron’s Kobe Tribute S1 Dunk, Zion Williamson’s S1 moments, the Cosmic set, etc.).
Nobody needed utility for those moments —  they were valuable because they were simply amazing and significant highlights. This Magic drop feels along the same lines, and doesn’t need any gimmicky challenges or extra utility to make them special.
Also, an interesting nugget from the blog… WEN MJ?!?!?
topshotshark
Look what I found in "Magic Johnson Is Coming To NBA Top Shot..."

Has to be Run It Back 86-87, right? Really hope it's this summer... https://t.co/gA5HyAs10Y
Multi-Accounting Mayhem, Pt. ∞ 🤖
With highly anticipated drops and new features (like the Referral Program), come bad actors. And while the peripheral numbers have been trending up (see below), it’s fair to wonder how many new users are truly organic.
LiveTokenBot
📉 Top Shot Metrics for 6/5/2022 📈

Sales: 16,112 (+14% week)
GMV: $255,413 (+16% week)
Avg Price: $16 (+2% week)
Sellers: 4,735 (+30% week)
Buyers: 4,165 (+45% week)
New Users: 1,649 (+232% week)

From https://t.co/yvVmKso2Ck

Join https://t.co/kwpfKup1Au for more
And when I see posts like this ( just one of MANY multi-accounting rings still being uncovered by community members), I really have to question if the ‘starter pack’ new user experience is worth these downsides:
usdtoreros
@nbatopshot @Jayne @ElDumboTS
What is being done about the influx of obvious multi-account/sign-up bonus schemes that are running rampant right now, like the one below?
Not only are they crushing WNBA values, they are likely going to steal spots in the Magic drop this week... https://t.co/wD7Q67fjn2
It would appear that Top Shot feels the same way, with a few posts from the Community account late on Monday:
Top Shot Community
Effective immediately, as we finalize implementing identity checks for new accounts in the first-time purchase flow, the $15 site credit for all referrals will be delayed on a one-week lag. This will help curtail abuse until the automated identity check at purchase is implemented
I also think the point below is important — if the community is finding and reporting these multi-accounters, I feel like something similar to a ‘bug bounty’ (rewarding users to find flaws in a system) should be in place. Because right now, there is very little incentive to continue:
Scott Eggertsen
@TS_Coach_T @WNBATopShot I get tired of reporting these. Especially when we don't get a response on resolution and there's no reward for correctly reporting a multi.
Anyways, welcome to the many new users on the platform! Group photo time:
Crafting Leaks 🪠
Crafting has felt imminent for a few weeks now, and there’s even more smoke now following a ‘Crafting 101’ video that was released and promptly removed on Monday. But not prompt enough, as collectors saw and went wild with speculation on the placeholder moments used in the early edition of the video.
A busy day for the TS Community/Comms Twitter:
Top Shot Community
Earlier today, an early version of a YouTube video featuring a tutorial on our upcoming Crafting feature was mistakenly published and watched by the community.

All specific “Challenge Criteria” in this video were placeholders and should not be used for speculative purchasing.
This gets filed under the ‘harmless mistake’ category for me, but any error at this point for Top Shot is blood in the water — the angry community feeding frenzy will always ensue.
It’s an interesting paradox though — people always point to expecting better out of a billion dollar company, but do we really scrutinize other products the way we do with Dapper? I certainly don’t read every blog on Apple’s website, or scour each description of products on Amazon’s platform — just a thought!
It’s a sign of a passionate community, but sometimes we all need a bit of perspective!
Around The First Mint 🗣
NFL All Day. Candy MLB. NFTU College Hoops. And this week - NBA Top Shot. Burning has finally arrived to the sports NFT world and just in time to combat the woes of oversupply. In this pod, we’ll explore the different methods for burning, and their short + long term impacts.
Thanks for reading! — Zach @ The First Mint
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Follow Zach on Twitter at @GhostOfGregOden.
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The First Mint
The First Mint

The First Mint Newsletter recaps the best from the NBA Top Shot and TFM community with an occasional sprinkle of cool NFTs.

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