Learn about the auction results of the ten Panini 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 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?
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R.A. Rowell is a collectibles enthusiast who comes 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, both on the blockchain and off.