The Biggest Rent-Seekers

Lots of good discussion originated by @mbl267_NFT on users who buy packs with the sole purpose to flip the moments for profit. He used the term “rent-seeker” and it has stuck. So I will highlight one other group of rent-seekers on TS–the price snipers

Using tools such as LiveToken, the price snipers scoop up low priced listings and immediately relist with a markup. Whether they are using bots or have the fastest CPU/ethernet/internet connection, oftentimes it is the same accounts who win the race to buy these deals.

Using only the TopShot UI, there is 0% chance of getting one of these low priced deals. Many accounts only activity are to buy and immediately relist - It is not hard to find accounts with this type of sales history.

They are not adding value or liquidity to TS and only function as a tax to long-term collectors. And everyday you can read Discord and Twitter and see users frustrated by these price snipers.. This is not the activity which will help grow our community.

@Eisenberg43 in office hours says most price alert tools are allowable and trying to prohibit tech is always a tough game. He also mentioned there is a large strain on the platform's technology when multiple people try to buy one moment at the same time.

So I propose a solution to both issues.

Limit the number of “recent hot listings” any account can buy to 1 or 2 per day. Define this as a moment just listed within 5 minutes. This will not impact the seller – their moment will sell just as fast or within 5 minutes.

These newly listed items will go to many different buyers instead of the same users. And it should dramatically cut down on the technology strain. I have proposed this in the User Suggestions.

https://nbatopshot.featureupvote.com/suggestions/181939/limit-number-of-purchases-of-recently-listed-items-12-per-day-per-user