Topps NFT - 4/20 @ on.wax

[jefflasvegas]

Originally Posted by johnlocke36

for all you guys staking wax, I assume getting around .07% compounded daily? or around 75 wax a day for every 10k staked

The rate I saw when I staked some was 4.25% apr. Not sure what the daily is of that as haven't run a calculation.

[jduds]

Originally Posted by Bruvydsb

Excited to pick up my first jersey # serial.

JD Davis (yes, Met fan) base #28. Paid 200 Wax (very happy with the price).

Wonder how long it will take for there to be a site to properly value serials? (similar to Moment Ranks or Live Token for Top Shot)

There have been some higher sales already with significant or low serial numbers. I'm of the opinion that the premium will happen, but not hold for that long except for a few big players. With each new release, there are new opportunities for fancy numbers. The physical card market used to put a much bigger premium on things with cool numbers, but as more serial numbered stuff entered the market people stopped caring enough to pay big bucks with a few exceptions. You still might get a premium for those "EBay 1/1" physical cards, but not a huge one. I'm betting NFT's will go the same way as the market figures itself out and as more are produced. Right now, everything is fairly unique, but that is not going to last that long. I'm definitely looking for cool numbers, but not paying much of a premium for them.

[btcarfagno]

Originally Posted by jduds

There have been some higher sales already with significant or low serial numbers. I'm of the opinion that the premium will happen, but not hold for that long except for a few big players. With each new release, there are new opportunities for fancy numbers. The physical card market used to put a much bigger premium on things with cool numbers, but as more serial numbered stuff entered the market people stopped caring enough to pay big bucks with a few exceptions. You still might get a premium for those "EBay 1/1" physical cards, but not a huge one. I'm betting NFT's will go the same way as the market figures itself out and as more are produced. Right now, everything is fairly unique, but that is not going to last that long. I'm definitely looking for cool numbers, but not paying much of a premium for them.

I agree for the most part, but with these NFTs there is no other way to differentiate between cards of the same series. No grading. No raw. Just a card in the series. Either the market will want to give a premium to certain cards from the same series or it won't. I'm betting that in the short to medium term it will. Long term not so sure. But I think that for now certain numbers will continue to carry a premium, and some a significant one.

[jduds]

Originally Posted by btcarfagno

I agree for the most part, but with these NFTs there is no other way to differentiate between cards of the same series. No grading. No raw. Just a card in the series. Either the market will want to give a premium to certain cards from the same series or it won't. I'm betting that in the short to medium term it will. Long term not so sure. But I think that for now certain numbers will continue to carry a premium, and some a significant one.

The lack of grading is a great point. I definitely could see the desire to create some semblance of scarcity with serial numbers due to the lack of grading that would help keep their values strong versus similarly numbered physical cards.

[Bruvydsb]

Originally Posted by jduds

There have been some higher sales already with significant or low serial numbers. I'm of the opinion that the premium will happen, but not hold for that long except for a few big players. With each new release, there are new opportunities for fancy numbers. The physical card market used to put a much bigger premium on things with cool numbers, but as more serial numbered stuff entered the market people stopped caring enough to pay big bucks with a few exceptions. You still might get a premium for those "EBay 1/1" physical cards, but not a huge one. I'm betting NFT's will go the same way as the market figures itself out and as more are produced. Right now, everything is fairly unique, but that is not going to last that long. I'm definitely looking for cool numbers, but not paying much of a premium for them.

I’m just using Top Shot as a guide. Low serial and jersey # are king.

The long term is unknown, but Series 1 will always be Series 1.

[yoyosh]

Originally Posted by Bruvydsb

I’m just using Top Shot as a guide. Low serial and jersey # are king.

The long term is unknown, but Series 1 will always be Series 1.

Speaking of low serial numbers...

I have two Topps moments, both are serial #9
Baltimore team card and Santiago Espinal gold RC
What’s a reasonable ask for those?

[Bruvydsb]

[QUOTE=yoyosh;17282938]Speaking of low serial numbers...

I have two Topps moments, both are serial #9
Baltimore team card and Santiago Espinal gold RC
What’s a reasonable ask for those?[/QUOTE

I would just look up the sales history for each card and sort by serial. Should give you a good idea.

[redauto5]

Originally Posted by jduds

I'm actually not sure about the rates, but that might be right. I'm really just interested in forgetting a chunk of it for a while to see if it goes up. Staking is just an added bonus.

I read somewhere it's like a 3-4%CAGR for staked WAX right now, plus you have guild voting power.

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[ItsMeJordanD]

I'm working on building a site that will provide additional data and stats from the AtomicHub marketplace and I'll probably share it here if/when I get the basic features done.

One thing I made so far is a tool that shows the 10 biggest sales from the previous 24 hours (not including packs or bundles). It seems that the amount of money spent on these Topps MLB NFTs has been down the last couple days, but this is the current list if anyone's curious:


Player | Type | Rarity | Mint # | Price

1. Mookie Betts | Base | Common | #1 | 15,000.00 WAX
2. Mike Trout | 1986 Anniversary | Super Rare | #157 | 8,169.33 WAX
3. Shohei Ohtani | Base (70th Anniversary) | Epic Exclusive | #15 | 5,999.99 WAX
4. Aaron Judge | Base (70th Anniversary) | Epic Exclusive | #3 | 3,900.00 WAX
5. Gerrit Cole | Base | Common | #45 | 3,750.94 WAX
6. Keston Hiura | 1986 Anniversary Chrome Facsimile Signature | Legendary Exclusive | #4 | 3,481.04 WAX
7. Shohei Ohtani | 1986 Anniversary | Super Rare | #77 | 2,994.75 WAX
8. Mike Trout | Base (Rainbow) | Rare | #143 | 2,989.97 WAX
9. Ronald Acuña Jr. | 1986 Anniversary | Super Rare | #145 | 2,618.78 WAX
10. Cody Bellinger | 1986 Anniversary | Super Rare | #5 | 1,999.00 WAX

[lauriontj]

Originally Posted by jduds

The lack of grading is a great point. I definitely could see the desire to create some semblance of scarcity with serial numbers due to the lack of grading that would help keep their values strong versus similarly numbered physical cards.

I agree.

I think we’ll start to see more color parallels of cards just like we see in physical cards.

Base
Red
Orange
Gold
Green
Blue
Purple

Etc.

This will create the scarcity. Also, the burning of cards will continue to help keep value.

At some point I think Topps will introduce the physical cards with NFTs. We are so early in this madness, but I’m really excited. This first release of series 1 is going to be insane 5 or 10 years from now.

[dabbadoo]

Assuming you guys have NFT cards, but no extra WAX lying around, are you rooting for WAX to go up? For me, it doesn't seem to make a difference as I think most people will still think of buying/selling in dollars.

[monkeymcgee]

Originally Posted by dabbadoo

Assuming you guys have NFT cards, but no extra WAX lying around, are you rooting for WAX to go up? For me, it doesn't seem to make a difference as I think most people will still think of buying/selling in dollars.

They are thinking is wax whether they realize it or not if they are going by sales history data in the apps.


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[koncheng]

I have 18k wax staked and it is producing approximately 1.2 wax per 24 hours. Is this normal? Seems quite low...

[MogulSkier39]

Interesting to note that with the cashing out it would seem the value of wax should dip, but it continues to tick up.

[JRX]

Originally Posted by MogulSkier39

Interesting to note that with the cashing out it would seem the value of wax should dip, but it continues to tick up.

The market cap of wax is 432M and the 24hr trading volume is 7.2M. You cashing out isn't moving the market.

[MogulSkier39]

Originally Posted by JRX

The market cap of wax is 432M and the 24hr trading volume is 7.2M. You cashing out isn't moving the market.

Great!

[jefflasvegas]

Originally Posted by koncheng

I have 18k wax staked and it is producing approximately 1.2 wax per 24 hours. Is this normal? Seems quite low...

At 4.25%, you should yield less than 800 wax per year, so quick calculation, should be close to 2 wax per day.

[redauto5]

Originally Posted by ItsMeJordanD

I'm working on building a site that will provide additional data and stats from the AtomicHub marketplace and I'll probably share it here if/when I get the basic features done.



One thing I made so far is a tool that shows the 10 biggest sales from the previous 24 hours (not including packs or bundles). It seems that the amount of money spent on these Topps MLB NFTs has been down the last couple days, but this is the current list if anyone's curious:





Player | Type | Rarity | Mint # | Price

1. Mookie Betts | Base | Common | #1 | 15,000.00 WAX
   
2. Mike Trout | 1986 Anniversary | Super Rare | #157 | 8,169.33 WAX
   
3. Shohei Ohtani | Base (70th Anniversary) | Epic Exclusive | #15 | 5,999.99 WAX
   
4. Aaron Judge | Base (70th Anniversary) | Epic Exclusive | #3 | 3,900.00 WAX
   
5. Gerrit Cole | Base | Common | #45 | 3,750.94 WAX
   
6. Keston Hiura | 1986 Anniversary Chrome Facsimile Signature | Legendary Exclusive | #4 | 3,481.04 WAX
   
7. Shohei Ohtani | 1986 Anniversary | Super Rare | #77 | 2,994.75 WAX
   
8. Mike Trout | Base (Rainbow) | Rare | #143 | 2,989.97 WAX
   
9. Ronald Acuña Jr. | 1986 Anniversary | Super Rare | #145 | 2,618.78 WAX
   
10. Cody Bellinger | 1986 Anniversary | Super Rare | #5 | 1,999.00 WAX
    

Very cool, looking forward to seeing the site progress man!

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[redauto5]

Originally Posted by MogulSkier39

Interesting to note that with the cashing out it would seem the value of wax should dip, but it continues to tick up.

I think people cashing out did impact WAXP prices downward after the initial drop for sure as the quick flippers figured out how to get their money out. Topps MLB had been the 3rd most volume edition of NFT on WAX the last few days, so other products are moving WAX prices just as much if not more than Topps MLB for now. I think Topps MLB will end up being the biggest product on the platform long term though. We have a single drops worth of product on the platform vs some of these others that have years of drops.

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[MogulSkier39]

I’m starting to see a slight uptick for the first time in days of my wax value (not usd) through TokenHead.

I’ve watched a few videos about “staking.” Anyone have any articles they recommend? Thoughts on long term growth through staking vs. holding wax in NFTs?

[yoyosh]

Waiting so long to release more packs (or to even announce the next release date of packs) seems like a miss.

[jduds]

Originally Posted by MogulSkier39

I’m starting to see a slight uptick for the first time in days of my wax value (not usd) through TokenHead.

I’ve watched a few videos about “staking.” Anyone have any articles they recommend? Thoughts on long term growth through staking vs. holding wax in NFTs?

Staking, to me, is just an added bonus on holding crypto that you expect to go up. I expect Wax to go up, so I am holding some and get the staking interest while I wait for it to go up. NFTs are convertible to Wax, but are subject to the market fluctuations. If you expect the NFTs to go up, then buy those. I'm holding some of those as well. Right now, I think people are treating the market in dollars. A Mike Trout is worth around 165.00 regardless of the value of wax. You can time when you sell to get more wax, but at least currently holding NFTs isn't catching the increases or decreases in wax prices it seems. If cards start staying constant in Wax prices rather than dollar prices, then NFTs themselves will be an excellent place to park Wax as you'd get the potential NFT price increases and the potential Wax increases. I am certainly no expert in this, so am more than willing to be corrected on anything here.

[redauto5]

Originally Posted by yoyosh

Waiting so long to release more packs (or to even announce the next release date of packs) seems like a miss.

Why? It's been less than 2 weeks. To me every day that goes by that Topps DOES NOT release more packs or announce another drop increases confidence in the secondary market. I feel good about it and am still buying here. Packs are great for quick money flips but in the end (Top Shot) inflates the market to hell and is super antiproductive for the investors/collectors in said market. Pack drops only benefit flippers and the company selling the packs and its a super short term thing.

Topps if you are reading this PLEASE DONT BECOME TOP SHOT!

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[dasiegel]

Originally Posted by jefflasvegas

The rate I saw when I staked some was 4.25% apr. Not sure what the daily is of that as haven't run a calculation.

Edit found a good article

[ItsMeJordanD]

I just thought of a problem that could happen with people posting their NFTs for sale based on the USD price instead of WAX on AtomicHub. This is why I think it's best to just list your items for a specific amount of WAX.

"Pump and dump" schemes have been a fairly common occurrence in cryptocurrencies where groups of people buy a specific crypto at the same time to pump up the price so that less savvy investors see the big gains and buy in themselves which drives up the price even further after which the original group sells at a profit and the price dumps back close to the original level leaving the victims holding the bags.

My worry is that the AtomicHub marketplace gives an additional incentive for groups or "whales" (people with huge amounts of crypto) to artificially drive up the price of WAX because it would allow them to buy up all the NFTs listed for USD prices at a discount.

For example, if the value of wax is $0.25 and you list an NFT for sale at $250, the price would be 1000 WAX at that moment, but it would fluctuate based on the current value of WAX. Someone with millions of dollars might be able to pump the value of WAX up to $1 at which point they could buy your NFT for only 250 WAX and then they could sell the rest of their WAX. Once the market has corrected and WAX is back at $0.25 you would only have $62.50 worth of WAX for that NFT.