⚓️ the top shot effect
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I wrote yesterday about how we already have nostalgia for NFTs that are barely a year old. in my heart, that is exactly feel about NBA Top Shot. that’s because it’s what got the hooks in for my NFT mania.
but I learned a lot from the experience too and I look back on it fondly. though I no longer keep up with my “moments” as diligently as I once did, I still have them and am attached to all the lessons I learned from them.
remember the days of euphoria? (not the TV show you pervs).
a pack drop and a stress test would cause you to text everyone you knew and tell them to get to a computer.
it has me wondering: are those days in the broader NFT world also a thing of the past?
remember when every project sold out? and that late night pump that would have you up until 2 AM watching the sales? that’s no longer the case…just like every pack drop isn’t a queue of a few hundred thousand people anymore on Top Shot.
does that mean that we’ve collectively moved onto that stage when Top Shot was clearly fading in popularity, but we still held on?
I’m not sure we’re quite there yet, but it’s something I am keeping a close eye on. and I’m calling this phenomena…the Top Shot effect (patent pending)
sentiment has shifted and people are constantly complaining about supply, floor prices, and Kevin. no, this isn’t just NBA Top Shot…it’s also all the other NFTs.
no one will be able to time the peak, but when we look back on the peak, it will have been obvious.
you see, people will tell you fundamentals are important. I’m sure they are (though I’m still unclear what fundamentals actually are) but it’s not really what we ultimately care about. what keeps the momentum going is fun.
fun…not fundamentals (patent also pending).
you could feel everyone having less fun over the last few months. it was becoming a business. aping in at 2 AM faded away. sweeping floors didn’t ignite a community like it once did. people started caring about the money only and using words like “utility”.
apathy is bad for a business. that’s certainly where we’re at with Top Shot, and where we *could* be heading with NFTs.