'What made the difference between Top Shot’s spectacular success and All Day’s more muted reception?' By davidzmorris
The early days of the COVID-19 pandemic showed us human nature in a largely new context. People around the world were locked down and separated, but at the same time newly connected via the internet and social media.
He was also becoming a bigger fan of the National Basketball Association by December of 2020, when he says he finally learned about the boom in sports collecting thanks to aBut a funny thing happened on the way to the wax pack. Ghahary was, at least for a time, more right than he could have possibly predicted. He started picking up Top Shot pieces in December 2020, and within a month pandemic pandemonium had followed in his footsteps. Top Shot secondary-market sales exploded from under $10,000 per day in November to nearly $7 million per day by early January, according to data fromSales kept going up. Top Shot frenzy reached a sharp peak on Feb. 22, 2021, when a staggering $45.
Some of that came down to differences between the features of the two collections. “The [All Day] web site itself is not as good as Top Shot,” Ghahary says. “It doesn’t have all the same features, which is a bit confusing. Because it’s both Dapper Labs, so you would think they would use the same technology, but it is very much a separate project.”
“There were different types of collectors, who came from maybe the crypto space.” Many, Eddiedunks says, saw Top Shot as a way to diversify crypto investments, summarizing their motives as “‘[ether]jumped and I put it into Top Shot. I have no idea who these players are, I can just watch the charts.’” Those participants may have made the early 2021 price bubble both bigger, and more fragile. “They were more in-and-out.
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