After the Gold Rush: What Dapper Labs’ Big-League Collectibles Teaches Us About NFTs

“I guess there was demand,”Ghahary says, “because when they sold packs [at that time], it would sell out. And you could flip it and make money. But as they pumped out more supply, values started dropping, and people started leaving. Even if you’re a huge sports fan, if you buy something for $2,000 and it’s worth $20 two weeks later, that’s not great. And that mindset can sort of set in.”

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