That's what Jack Settleman, noted NFT enthusiast and contributor to this very website, said last weekend when discussing the state of NBA Top Shot on a YouTube livestream.
Settleman's statement crystallized a lot of what I’ve been feeling about a platform that has had a rapid rise, and is now creating frustration, confusion even, from a lot of its users.
FUD is high for Top Shot, with optimists pointing to the NBA Playoffs—still a long five weeks away—as a near term opportunity for another exciting time in the marketplace.
But despite the negativity, this is a community, an ecosystem, that's still engaged. Really, really engaged.
In the month of March, when "undercutting" rose to prominence and many moment’s lowest-asks cratered 50% or more, contributing to a decreasing overall marketcap, new users continued to come in and explore the platform. While many may have been relying on pack drops and not investing through the marketplace, all indications remain that when registration is open, new users will continue to sign up at an impressive pace.