NBA Top Shot (NFT): The marketplace for basketball

NBA Top Shot (NFT): El marketplace del baloncesto

When we were kids, I am sure that most of us lived the illusion of having an album to fill with different stickers or collectible cards. 

Certainly, out of any subject that you liked such as video games, anime such as Dragon Ball, Pokémon, etcetera; it was all an excitement that we lived day by day to get it filled. 

However, there was one theme that was sweeping in terms of the number of albums out there and that was sports. 

Of course, the world of sports, due to the various competitions or world cups, has a lot to offer in terms of allusive products. Thus, collectible cards were not going to be left behind. 

Nowadays, you don’t need to own an album or buy physical stickers to be a true collector of your favorite sportsmen and women.

Through non fungible tokens or NFT, you can achieve this in a more exclusive and interesting way. 

You may wonder what I mean by that? It’s relatively simple, because you can collect the best moments of different games or stars like Michael Jordan through blockchain technology. 

Today we will dribble through the vast courts of a platform dedicated to collecting moments from the world’s most famous professional basketball league: the NBA. 

NBA Top Shot (NFT): El marketplace del baloncesto

What is NBA Top Shot?

NBA Top Shot is a blockchain-based platform that allows you to buy, sell and trade NFT (non fungible token) officially licensed by the National Basketball Players (NBA). 

However, this is not all, as they are presented as packs with authenticity guaranteed and secured by the blockchain they include:

  • Videos on the field.
  • The best shot moments (top shot moment).
  • Game statistics. 
  • Description of highlights and play. 

Therefore, you can earn money by selling them while living an incredible experience. In it, unforgettable plays and key moments are transformed into collector’s items that you can own forever. 

This idea came about when, in July 2019, Dapper Labs, the NBA and the NBPA (NBA Players Association) teamed up to create NBA TopShot. 

As a result, the NBA, led by Roham Gharegozlou and his team, managed to build an entire marketplace of digital collectibles.

Evidently, instead of NFTs of cute cats like Cryptokitties, you get the highlights and exciting aspects of the NBA. 

How does it work?

The best thing about Top Shot is its intimate and legal relationship with the NBA, which makes it easy for you to have limited edition NFT packages, as the NBA is the provider of game data and video.

Therefore, the NBA takes care of clipping highlights of NBA players from more than 30 teams, including the Knicks, Lakers, Hornets, Golden State Warriors and the latest champions: the Milwaukee Bucks.

Dapper Labs then decides which and how many clips they will sell and place them in numbered digital packs. Like regular collectible cards, they are sold in packs on the official NBA Top Shop website. 

Their prices range from $9 to over $230 according to their tier classification. The higher the tier, the more limited they are.

Clearly, their tier depends on the quality of the highlight, the level of stardom of the player and the exclusivity of the package. 

In this sense, we can distinguish five tiers: 

 

    • Common: It is available in the collectibles packs that are sold and there are over 10,000 videos of that moment or the player you saw.

    • Rare tier: You can find it in the collectible packs and, like these, there are between 500 and 4,999 identical videos.

    • Legendary tier: You can obtain them through collectible packs and their edition size is from 50 minimum to 499 maximum.
    • Platinum Ice: They are acquired through auctions and there are only 3 of them in the world. 
    • Genesis: It is the last tier, the highest and most peculiar of all, since they are bought at auction and there is only one. 

Once you purchase your package with dollars, these moments will be saved and ready in your wallet to display or resell on NBA Top Shot Marketplace for up to $100,000. 

NBA Top Shot (NFT): El marketplace del baloncesto

What is your business outlook?

From the year of its creation until March 2021, more than two million purchases have been registered. Likewise, 300 million transactions have been budgeted until March 2021 in its beta. 

Among all these sales, a LeBron James moment stands out and was sold for more than $71,000. 

As of late, a collectible of Ja Morant making a basket over Aron Baynes in his 2020 rookie season is selling for $100,000.

According to its CEO, Gharegogozlou, the outlook for NBA Top Shot is favorable, as it brings rookie cards into a modern era.

In addition, since the common commercial card business is worth between $5 to $6 billion a year, she is confident that they can raise billions of dollars. 

Hold it right there, next Magic Johnson.

This is the end of our intense but very useful article to understand a little of the NFT world that is growing at an accelerated pace.

Honestly, there is much more to say about this type of platforms, so we invite you to click on the topics below.

There you can learn about similar projects or basic concepts that are essential to manage this topic such as pivots with rebounds.

Likewise, if you want to read much more about it, you can go to our main blog.

On a weekly basis, we bring you quality, easy to understand but very interesting articles on NFT and crypto news. 

For the time being, see you in a future article!

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