by R.A. Rowell
As we’ve established in our first few articles about the brand new one-of-one Panini Blockchain cards, the digital assets that Panini paired with traditional one-of-one physical trading cards really don’t seem to be of much value at all right now. Of course, as we learn more about what Panini plans to do with the cards in its Blockchain program, that may change. For the next few weeks, we’ll simply be reporting on the sales themselves and our thoughts on them. After Week 10, we’ll have a more comprehensive analysis.
Week 4 of the 2019 Panini National Treasures Blockchain release featured some legendary players. Notably, a couple of the cards featured only an auto and no patch or a patch with no auto. Did this affect their value? Let’s find out.
Here’s the Week 4 Panini Blockchain line-up
Now, here’s the order and sales:
Trae Young 1/1 NBA Logoman Patch Auto - $8,816.34
Tom Brady 1/1 Patch Auto - $7,673.48
Donovan Mitchell 1/1 NBA Logoman Patch Auto - $5,469.40
Patrick Mahomes II & DeShaun Watson Dual Brand Logo Patch Auto - $3,591.85
Aaron Judge 1/1 Button Autograph - $1,387.76
Emmitt Smith 1/1 Patch Autograph - $1,387.76
Christian Pulisic 1/1 Patch Auto - $1,061.23
Jimmy Butler 1/1 NBA Logoman Patch - $734.70
Charles Woodson 1/1 Patch Auto - $734.70
Charles Barkley 1/1 Autograph - $489.81
The first Panini National Treasures Blockchain card off the board was Trae Young. That’s not all that surprising considering how Trae Young has played in 2019-20. The second was Tom Brady, one of the key players, if not THE KEY player, to collect in all of the NFL. Donovan Mitchell’s card was third, and he’s having his best year in the NBA yet for the Utah Jazz. The 4th card, the dual patch auto of Mahomes and Watson feels like a bargain.
The dropoff after that was to be expected, with the other six cards selling for $1,400 or less. One of the cards was a player we already saw in Panini Blockchain Week 2 with Charles Woodson. The difference is that this card pictures the legendary defensive back with the Raiders while the Week 2 card had him with the Packers. Notably that card sold for $653.07. This one sold for about $80 more. The other cards all seem like fair prices for those types of cards in the traditional sports card market. So, the Blockchain digital asset is pretty much just a bonus piece, as the winner will recieve the physical copy within the next couple of months.
What will Week 5 bring? We know the next 10 cards will include Ken Griffey Jr., Ezekiel Elliott, John Wall, Kaapo Kakko (our first hockey player), Pete Alonso, Dan Marino, Jarrett Culver, Aaron Rodgers, and Gianluigi Buffon.
What do you think of the Panini National Treasure Blockchain cards so far? We’d love to hear your thoughts in the comments!
Panini Blockchain's week 3 release featured a Mickey Mantle Cut Auto, an Overpriced Zion Williamson One-of-One, and More Unique Gems.
by R.A. Rowell
Before we begin to analyze the auction results of the Panini Blockchain Week 3 cards, I have to address the obvious issue with these weeks auctions. Why, oh why, Panini, did you start the Zion Williamson card at $250,000? Don’t you realize now that $100,000 was an absurd starting point and that you just got lucky with that Kobe Bryant selling for $60,000 plus? Well, in Week 3, we will see yet another $60,000-plus sale. Beyond that, not so much.
Anyway, these 2019 Panini National Treasures Blockchain auctions haven’t been all that fun to cover as they are 5-day Dutch auctions that last from Monday to Friday starting an absurd high point. It’s actually a fair point to say that letting them drag out so long has actually HURT the sales of these cards. After all, these are one-of-ones of a brand new product and as we’ve seen already, some of these cards went significantly lower than they should have for the physical “gift” copy alone.
The good news is that the market seems pretty much set now, with all the action happening on the last day of the auctions. It doesn’t make for very exciting coverage as all the action pretty much happens all at once. At least with an eBay auction, you can see how many people are watching and how many bids are in - of course, with a Dutch auction you go backwards and the first bid wins, but still… this is boring as all fudge cakes.
After all, when you look at Week 3’s lineup of Panini National Treasures Blockchain cards, you’ll realize, if these were just ordinary one-of-one cards - without the blockchain - the hype would be REAL on these. But, because of how poorly Panini has handled these auctions - and the strange lack of marketing them much at all - you simply aren’t hearing much at all. That’s both good and bad; we’re seeing the first adopters of these cards get some major bargains with some of these cards.
I’m not saying that the Dutch auction format is a bad idea. It’s just that Panini set their expectations FAR too high, and they’ll be drawing out this painful process for the next couple of months. The format itself isn’t the problem. Also, they are doing NOTHING to hype the product outside of a blog post and a couple of tweets - far as I’ve seen. Also, people are bashing the whole Blockchain aspect, for reasons we covered in our first in-depth analysis of the Panini Blockchain cards from Weeks 1 and 2. The concept is very good, the execution has very much been.... not so good.
Anyway, we still have ten pretty interesting cards to look at here. I mean, look at this lineup:
You’re telling me that there’s a Mickey Mantle cut autograph in this week’s lineup and we haven’t heard any hype around it? Plus, even though the Packers were dismantled in the 2020 NFC Championship game, you have a dual patch auto of two Packers legends, and we haven’t heard about that, either?
Yes, this week’s focus is on Zion Williamson. As sick as tired as I’m sure many of us sports fans are hearing about Zion, he was a really impressive player before and I think he’ll have a pretty good NBA career. His brief first NBA game was fire, but it was in very limited minutes. This card is fine and should be valuable, but come on, Panini - a starting bid of $250,000? You have the GALL to set THAT high a price on these cards that besides the one outlier haven’t sold for over $5k? Sheesh.
Also, Neymar’s patch is just not all that interesting. The soccer cards have been sort of bland in general so far. The Maradona one was OK, but the other one was lacking. Come on, Panini, you can do better, and you HAVE done better! Not to mention, SOCCER IS THE NUMBER ONE SPORT IN THE WORLD!
Anyway, Eloy Jimenez has a silly button auto, which I suppose we could loosely call a “rookie card.” I’m not a fan of buttons as a patch, but apparently some people like them. Barry Sanders is an NFL legend. Paul George is going to be an NBA Hall of Famer.
OK, Wentz is overrated and Jones hasn’t impressed me yet. But the rest of that lineup is pretty solid. So, overall, this isn’t a bad week worth of cards.
But, seriously, how can this week 3 lineup NOT be getting attention? It should be all over the sports card news. Anyway, for the handful of people actually watching these Blockchain auctions, let’s see how they turned out.
Panini Blockchain Cards Week 3 Dutch Auction Results
Well, then, we did have our second five-figure sale in Week 3. No surprise our $60,816.33 man is Zion Williamson. Let’s look at all ten sales in order:
Zion Williamson: $60,816.33
Anthony Davis: $9,061.23
Brett Favre/Aaron Rodgers: $3,102.05
Daniel Jones: $3,102.05
Mickey Mantle: $3,102.05
Barry Sanders: $2,775.52
Paul George: $2,612.25
Carson Wentz: $2,367.36
Eloy Jimenez: $897.97
I’m not going to break them down quite to the same level as Weeks 1 and 2 because the market appears to be stabilizing on these cards to the point where people are clearly paying for the physical one-of-one. Until there’s some added benefit to the Blockchain digital copies, there simply won’t be that much extra paid for the right to that second non-tangible asset.
The Zion is by far the highest sale more based on the starting bid than I think it’s true value. However, the hype around his debut and subsequent immediate success was fuel for the fire here. Panini truly took advantage of the timing here. That being said, the market for Zion one-of-one cards has been quite nuts. So, the five-figure sale of this card is more reflective of the current melt-up of the market for Zion cards than a FOMO (Fear of Missing Out) moment.
Anthony Davis has been extremely successful for the Los Angeles Lakers. So, it’s probably no surprise that his card was the second-highest seller, a whopping $9,061. Of all 10 of the cards in Week 3, this is probably the highest overpay for the physical copy alone. The other eight I feel were fair prices, although a couple may have been on the low side - especially Eloy.
At the end of each week, we’ll continue to report on the Panini Blockchain card sales. After Week 10, once all 100 initial one-of-one Panin Blockchain National Treasures cards are sold, we’ll have more of a full breakdown of all the sales.
What do you think of how the market for these Panini Blockchain cards is developing? Do you see any bargains in the Week 3 card sales?
Learn about the auction results of the ten Panini National Treasures Blockchain cards from the Week 1 release.
Panini America has set a major landmark by releasing ten sports cards that are unique one-of-one collectibles that come in two forms - a physical copy and a non-fungible token on a private Panini blockchain. In the first week, Panini released ten of these 2019 Panini National Treasures Blockchain cards. These cards were auctioned using the Dutch auction format. The bidding began at a whopping $100,000 for each card. This number was greatly criticized, although the Dutch auction format itself has been done for other unique blockchain collectibles before.
The first of these Panini Blockchain cards to sell was a Kobe Bryant One-of-One card styled after Panini’s highly popular National Treasures set. It features both an autograph and an NBA Logoman patch. The final sales price was $61,714 on January 8th, 2020! This is a much higher price than many collectors anticipated, and perhaps the trigger was pulled due to FOMO (Fear of Missing Out).
The next three sales came close together three other sales. But, the next three cards sold for a mere fraction of the Kobe Bryant card. The second card to sell was a dual auto/dual Logoman patch Ja Morant/Rui Hachimura card, for a final sales price of $3,591.85 on January 10th, 2020. That is a much more reasonable price it would seem for this one-of-one card, especially when compared to its physical counterparts.
The third sale was a Kyler Murray one-of-one NFL Shield logo patch auto. It sold for $3,183.68. Again, that’s much closer to what you would expect for a card like this. The fourth car to sell was actually one of the most initially hyped, a Honus Wagner cut autograph one-of-one. It sold for $3,102.05 on January 10th, 2020.
The next two sold shortly after the others on January 10th, 2020, together at the same price. They were both NBA players. The fifth and sixth of the week one sales were Damian Lillard and Coby White Logoman autos. Each sold for $1959.19. The seventh sale was a Gleyber Torres auto with Nike patch, which sold for $1551.03.
Shortly after the Torres car sold were two more sales, these ones NFL stars. The 8th sale was Panthers running back Christian McCaffrey, another Logoman auto that sold for $1306.13. Not long after was legendary quarterback Peyton Manning and his Logoman auto which fetched $1224.50.
The 10th and final sale was a dual patch autograph of soccer star Luis Suarez. His card brought the lowest total of all, just $571.44. Not to say that’s not a substantial amount of money, but it’s easily the cheapest of the 10.
Do keep in mind that these sales come with two distinct assets. One is an actual physical card that will be shipped to the buyer. The other is a digital representation of that card as a non-fungible token on Panini’s private blockchain. This NFT can be sold on Panini’s blockchain marketplace. The physical copy is treated just like any ordinary one-of-one trading card. They are entirely separate and distinct assets. You can sell the digital asset and keep the physical card, keep the digital asset and sell the physical card as you would any other card, or sell both, or keep both.
What will be very interesting to watch now is what these blockchain NFT cards end up selling for on the Panini marketplace. It will also be interesting to find out what happens if any of these Panini National Treasures Blockchain cards end up on eBay. Since they are one-of-one cards, how the secondary market responds to these sales, and whether the initial buyer profits in the end, will be quite a story to follow.
More analysis to come. We’re excited to see what Week 2’s batch will bring. Will we see another $50,000-plus sale?
Richard A. Rowell is a collectibles enthusiast coming from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, especially those using blockchain technology.