🚨 3/28 CHALLENGE UPDATE 🚨

Market pullback underway πŸ“‰

🌟 Rising Stars 1 (Edwards): $7,320
🌟 All-Star Game 2 (Dame): $4,515
🌟 Rising Stars 2 (Zion): $4,840
🌟 Seeing Stars 2 (LBJ): $2,755
🌟 Seeing Stars 1 (KD): $1,610

Will they continue falling?? Image
All of the challenges are down >10% in the last 48 hours:

RS1: -15.9%
ASG2: -17.8%
RS2: -11.9%
SS2: -11.4%
SS1: -10.5%

Most of the declines have come just this morning. Data from @AddMoreFunds
James Wiseman's RS1 moment is one I've had my eye on for a while.

In the past couple hours it seems like there has been some panic-listing around $1,100 😳

There are only 2 days left in RS1, wonder if owners of the bigger moments will get antsy. Image
Will the challenges continue to vary together?

All 5 of these challenges are on different timelines and some of them are ending soon.

Keep an eye on RS1. It's over in 48 hours & many collectors have liquidity tied up there. Tuesday could be a volatile day.

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More from @MaxMinsker

30 Mar
πŸ“‰ ARMAGEDDON PT 2 πŸ“‰

πŸ’« Rising Stars EditionπŸ’«

In the 20 minutes since the challenge ended, Rising Stars moments are down ~50% based on min-ask right now per @EvaluateMarket

If you thought collectors took a bath on Seeing Stars, just wait ⬇️⬇️ ImageImageImageImage
If a collector bought at the bottom of the RS1 market (About $7k AT LEAST), they would lose about $3,500 if they sold now.

SPOILER ALERT: The Edwards reward isn't even going to come CLOSE to making up that difference. I'd be shocked if it even makes up for half (at open).
One interesting difference in RS1 is that there wasn't nearly as much "buying on the way down" as we've seen in the past.

There weren't any intermediate sales at say a 10% loss within 2 min of the challenge ending.

Panic-listing tanked every single moment within about 5 seconds
Read 4 tweets
30 Mar
The @dapperlabs fundraising news is breaking my brain 🀯

(and it's not because MJ is investing, it's because Dapper Labs just became a Unicorn overnight) πŸ¦„πŸ¦„

A thread: ⬇️⬇️⬇️
Here's my *guess* for Dapper Labs' valuation over time.

Today they basically skipped from Series A to ~Series D

Valuation yesterday: ~$70 million
Valuation today: $2.6 BILLION🀯🀯

~40x

They're now one of the ~300 most valuable private companies in the world.

This is INSANE Image
Their last round was $13.4M.

I know that seems like a lot, but that is NOT that much money. Hire a couple top-tier engineers and your run rate is already <12 months.

However, $305M IS a lot of money.

It's insane that Dapper Labs was able to build this off Series A $.
Read 7 tweets
30 Mar
🐻🐻 3/29 Challenge Update 🐻🐻

Rising Stars 1: $6,870 (-14% since this morning) πŸ“‰
Rising Stars 2: $4,430 (-7.9%) πŸ“‰
All-Star Game 2: $3,890 (-12.8%) πŸ“‰
Seeing Stars 2: $2,410 (-20.7%) πŸ“‰

I'm a little bit worried about marketplace conditions right now ⬇️ ImageImageImageImage
There are a number of reasons why the market might be falling:

1. General FUD (like we've been seeing)
2. Lack of new money in circulation
3. Pack drop/Increased supply, etc

But honestly, I really think today's decline is mostly about Seeing Stars 1.
Maybe I'm off, but I saw people projecting KD to settle ~$700 (at least) AND that the SS moments would hold up ok post-challenge.

BOTH of these assumptions fell through.

SS1 moments cratered post-challenge (they've recovered a bit since) and KD was easily attainable at $500.
Read 6 tweets
29 Mar
🚨 Only 1 hour left top complete Seeing Stars 1 🚨

Set is only -2% since yesterday morning (currently $1,582) but there are some weird trends happening within the set.

A thread: ⬇️ ImageImage
The two most expensive moments in the set are going in opposite directions.

Zion is -20% in the past 24 hours πŸ“‰
Harden is +10% in the past 24 hours πŸ“ˆ

Zion is totally bottoming out.
Many of the bottom-tier moments are beginning to trade well below $100.

Bradley Beal has dropped >10% in the last couple hours and continues to spiral.

Will people start panic-listing as we approach the buzzer?? Image
Read 6 tweets

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