If you’ve been around the hobby for a minute, you know that opening a box of One and One is a high-stakes gamble. It’s stressful. It’s fast. Honestly, it’s basically over in thirty seconds. You get two cards. That’s it. Both are slabbed in those clean one-touch holders, and usually, one is a base or parallel while the other is an autograph. But with 2024-25 Panini One and One Basketball, the vibe feels a lot heavier than usual.
Why? Because the clock is ticking.
Panini is losing the NBA license to Fanatics/Topps in 2025. This release, which hit the market around September 17, 2025, represents one of the final "premium" swings Panini gets to take with the NBA logo and team colors. If you pull a patch auto of a rookie like Reed Sheppard or Zach Edey, you're looking at some of the last licensed on-card signatures of this era. It’s weird to think about, but the hobby is changing fast.
What’s Actually Inside the Box?
Let's skip the marketing fluff. When you drop over $1,300 on a box—yeah, that's the current hobby price at places like Steel City or DA Card World—you’re paying for the "chase." You get one pack. Inside that pack are two cards.
The first card is your "filler," though calling a One and One base card "filler" feels a bit disrespectful. These are numbered to 75 or less. Panini added a new Orange parallel this year, numbered to 49, which slots in between the Blue (/35) and the Purple (/25). If you’re really lucky, this slot isn't a base card at all, but a Downtown or one of the new metal inserts like Prizmania or Manga.
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The second card is the autograph. This is where the money is made or lost. We’re talking on-card ink. No stickers here. The Timeless Moments Autographs are back, and they still feature those iconic photography shots that make the card look like a piece of art rather than a trading card.
The Rookie Class Reality Check
I’ll be real with you: the 2024-25 rookie class doesn't have a Victor Wembanyama. It just doesn't. But that doesn't mean it's a "dead" year. In fact, because the checklist is more balanced, the prices on individual boxes might actually stay more stable than the volatile Wemby-chase of last year.
- Zaccharie Risacher & Alexandre Sarr: The top picks are the obvious targets, but their market is still finding its footing.
- Reed Sheppard: Collectors are all over his shooting splits, and his autos are moving well in early breaks.
- Dalton Knecht: Being a Laker adds an automatic 20% "tax" to his card values. That's just how the hobby works.
- Zach Edey: The Grizzlies big man has a massive following, and his Rookie Jumbo Patch Autos are some of the most sought-after physical cards in the set because, well, the guy is huge, and the patches are too.
The "Case Hits" That Keep People Ripping
Nobody buys 2024-25 Panini One and One Basketball hoping for a base card of Lauri Markkanen (no offense to Lauri). They want the Downtown. This year, Panini introduced the Downtown All-Star variant. It’s a Hobby-exclusive chase that features players in their All-Star gear with even more chaotic, city-specific artwork in the background.
Then there are the metal cards. Permit to Dominate and Black Color Blast are the big ones this year. The Color Blast cards, specifically, have a white-hot market because they look incredible in a PSA 10 slab. They’re super short-printed (SSP), meaning you might see one in every few cases, not boxes.
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Why the License Change Matters for Your Investment
Usually, when a company loses a license, people freak out and sell everything. I don't think that's going to happen here. In fact, 2024-25 products might become "cult classics" because they are the final licensed versions of certain sets.
Think about it. Once Topps takes over, Panini can still make cards, but they won't have the "Celtics" or "Lakers" names on them. They’ll be "Boston Basketball" or "Los Angeles Team." The jerseys will be airbrushed. The logos will be gone. That makes these 2024-25 Panini One and One Basketball cards the "true" last editions of the Timeless Moments and Downtown brands as we know them.
Historical data from the last time a license shifted (back when Topps and Upper Deck lost out to Panini in 2009) shows that the final year of the "old" brand often holds value surprisingly well. Collectors get nostalgic.
Survival Guide for Buying One and One
If you're going to get into this, don't buy a single box and expect to get rich. The "floor" on these boxes is low. You could pull a veteran auto of a bench player and a base card worth $20. That hurts when the box cost $1,400.
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Most people are moving toward Group Breaks for this product. It’s cheaper to buy the "Rockets" or the "Lakers" in a 10-box case break than it is to buy one box yourself. Just make sure you’re using a reputable breaker; with cards this expensive, you want to ensure they're being handled with gloves and shipped in the original one-touch.
If you’re a singles buyer, wait. The "new shiny toy" syndrome is real. Prices for 2024-25 rookies will likely peak the week after release and then dip until the All-Star break. That’s when you strike.
Final Thoughts on the Set
Panini One and One remains the cleanest-looking product in basketball. The lack of "junk" cards makes it feel premium. Even the base cards, with their thick stock and gold foil, feel like they belong in a high-end collection.
Is it worth the $1,300+ price tag? For most casual collectors, probably not. But for those chasing a 1-of-1 Black Parallel or a Logoman, this is the pinnacle of the 2024-25 season.
Next Steps for Collectors:
- Check the Checklist: Before buying into a break, verify if your favorite player has an on-card auto in this set; some vets only appear in the base set.
- Monitor Secondary Markets: Keep an eye on eBay "Sold" listings for Downtown All-Star cards to gauge the actual market value versus the "asking price."
- Compare to 2023-24: If the 2024-25 prices feel too high, look at last year's One and One singles; you might find a better deal on a sophomore Victor Wembanyama than a rookie who hasn't proven himself yet.